Web3 | How COLORS and Zora are disrupting the music industry in the best way
What unfolds when you merge Web2 and Web3 music platforms? Every aspiring artist‘s ultimate dream comes true. The extraordinary collaboration between COLORSxSTUDIOS and Zora is one that will change history. COLORSxSTUDIOS offers artists an immersive stage to perform live and engage in captivating interviews. With millions of subscribers across various social media platforms, it serves as the perfect launchpad for emerging talent seeking global recognition. On the other hand, Zora, a pioneering Web3 company, spearheads the movement to unite culture and creativity with cutting-edge blockchain technology, empowering artists to monetize their creations. Their mission revolves around bringing creativity to the blockchain, evident through their highly anticipated IRL events like Zoratopia and the tastefully curated Web3 culture publication, Zine. Together, COLORSxSTUDIOS and Zora are revolutionizing the music industry.
These two music powerhouses have joined forces to deliver an unparalleled experience to their devoted fan base. This groundbreaking partnership introduces the extraordinary world of COLORS COLLECT, a brand new digital collectible platform. Fans can now engage with their favorite artists and immerse themselves in the vibrant COLORS universe like never before. By acquiring and curating their own shareable music collection, fans unlock a realm of exclusive opportunities while supporting the talented artists behind the scenes. The inaugural series of collectible episodes — featuring an exceptional lineup of artists including Bellah, Bryann, Erick the Architect, Rema, RIMON, and YEИDRY — debuted just last week, captivating audiences worldwide.
For this Web3 exclusive, Jeremy Grinberg from the COLORSxSTUDIOS team and Brendan Smith from Zora open up about the monumental partnership. Read up.
What can people expect from this collaboration?
Jeremy Grinberg: So, essentially, what we’re doing is creating a new platform called COLORS COLLECT, which now allows fans, artists, etc. to collect their favorite shows as digital collectibles. Beforehand, you could just engage with our shows on Instagram, etc., and this is sort of a new distribution channel that allows fans to get [what] they know and love. So, [season one features] six different artists and we hope to continue this moving forward.
How can people purchase a show?
Brendan Smith: So, right now, you would have to kind of connect your own personal wallet. Thankfully, both COLORS and Zora came together to create a multitude of different options. If you don’t have a MetaMask, if you have a coin-based wallet, totally fine; you’re able to connect and basically collect right off the bat. I think over time, at least on Zora’s end and in collaboration with COLORS, we would love to, you know, bring this to them as well — figuring out ways that people don’t even really need to go through that kind of clunky process that is still a little bit of, you know, a way in which people are having a hard time collecting these days. But I think over time, that’s gonna get a lot smoother. And I would say as soon as the next, you know, coming months is… enabling people to collect in a much more frictionless manner.
What do consumers get for collecting a show?
Grinberg: Right now, we’re not gonna promise anything quite yet because we’re developing the platform. But you do get a copy of the show and from there, it exists on the Ethereum blockchain, which means it exists always on marketplace. So, technically, you could sell the show if you’d like or you could hold on to it. But it’s like a collectible, like anything else. It’s like a poster that you may hang up on your wall. So, that’s essentially what is coming to market right now. And that’s what we’re allowing fans to do. Then, also, they can create their own unique custom profiles showcasing all of their collectibles, and they’ll be able to share those socially.
We hope to create an ecosystem where you can see your participation within the COLORS ecosystems. So you can say, “I’ve collected these collectibles. I bought this sweatshirt. I attended this show,” and you can sort of see your thumbprint within the COLORS world that you couldn’t before. So, yes, that is what you’re getting.
Can you break down the revenue aspect and shares for the artists?
Grinberg: It’s a 50-50 split, so 50 percent goes to the artists — and we’ve divvied that up between 25 percent to publishing and 25 percent to master. So, if there are different participants in either category, you know, it pays out accordingly, and then 50 percent [goes to COLORS COLLECT] and allows us to continue this and keep building out this platform.
Smith: This unlocks an entirely new stream that is very direct, and it doesn’t really have that kind of middleman in between distributing the funds. So it’s a direct revenue kind of relationship and then a direct kind of social relationship.
Is there anyway for artists to be a part of what you’re building?
Grinberg: I mean, I think there’s definitely ways for artists to be a part of the Web3 space in terms of being on COLLECT; at least for now, it’s gonna focus on artists that are curated by our curation team. So that’s sort of out of my hands. But that is sort of like the bread and butter of COLORS in a certain way. But it doesn’t prevent artists from coming into the space, collecting their first collectible, working with Zora and creating something really special. Maybe it’s not the best answer, but there’s many ways to participate — even if it’s not directly on COLORS COLLECT.
Is there anything else you would like people to know?
Smith: It is a like world-class brand and that platform has done a ton of work on the curation side, you know, in terms of featuring some of the best acts [before they ever broke out] into the world. So, I think if artists who are curious or interested in participating in this ecosystem, [it might not be COLORS is that first step]? But I think what they can do is it takes about three clicks, and you can put something on chain via Zora. So feel free to like, you know, create a profile and try it out. And at this point, it costs you nearly nothing to do. So if you are an artist curious about, you know, what to do with this tooling or how it even kind of works, [we’ve] made it fun, to Jeremy’s point, and it is something that we would encourage people to just give a shot.
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This collaboration holds huge significance in the way we interact with our favorite artists. Firstly, it offers creatives a remarkable avenue for ownership and enhanced monetization opportunities within the industry. Secondly, it sheds a spotlight on the incredible capabilities of Web3 technology while leveraging the influence and trust of an established brand to introduce it to a wider audience. The prospects of this partnership are truly exciting, and I eagerly anticipate witnessing the progress it brings forth. This union has the potential to drive substantial growth for both Web3 and the music industry as a whole, forging a path toward a vibrant and prosperous future.
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