Sammy Chand is a record producer, artist manager, soundtrack composer, artist, and entrepreneur. He is also the founder of Rukus Avenue, a record label based in Los Angeles, CA.
$50K investment in 1Music
- overseeing and implementing of events strategy
- leading communications, activations, and strategy with partners; business structure on behalf of Harmony one
- India and strategy around the South Asian subcontinent, and general business/culture intersections
- Adoption of the Harmony ONE through partnerships (overseeing content production)
April Deliverables - 0/0/0/%
1MusicDAO and social tokens, 88Rising Partnership & Execution, 1MusicDAO strategy and artist acquisition.
This document will present the vision of the 1MusicDAO, a new Web3 based music company that will work with music artists to create a new economic ecosystem around Web3 products. By working with musicians and artists to create utility around their own social token, our goal is to help drive artist communities into their own DAOs. Although this will result in greater independence for the artist, it is important that we carry the mindset of adding value and utility to the artist’s current traditional music business.
By focusing on presenting our music industry partners with sound tech partnership and economic opportunities built around their community, our net takeaway will be more 1Wallet adoption, greater Blue Metaverse interaction, and wider Harmony ONE engagement. With a keen focus on building community through engagement and access, artists will utilize our partners to build the perfect metaverse experience. Complete with performance venues, NFTs with utility toward community oriented economics, premium and exclusive content, we will bring new meaning to the artist fan club.
In the past, NFTs and other Web3 items were always perceived as impetuous and without thought of any utility beyond a visual digital product. They also lacked a greater vision or ecosystem, but now, our Blue Metaverse serves as a perfect solution and perfect housing for the Web 3 space for an artist. Moving forward, we must present genuine value through access and exclusivity to fans in order for them to convert and adopt the 1Wallet. A programmatic content schedule that fits the roadmap of the artist is going to be the key ingredient to a relevant and long lasting relationship from the engaging fan.
- Increase 1Wallet adoption through exclusive content from our own in-house music program by adding 50k users from 1MusicDAO artists in 2022
- Strengthen our relationships with our NFT partners by bringing strong user cases
- Increase Blue Metaverse engagement by increasing cultural interaction by holding a major metaverse concert by the end of the year
- Focus on the artist’s success : If the artist wins, this community wins
- Let’s build community : Offering unique engagement that builds a sense of community
- Present value to the fan : Give access to content you can’t find anywhere else
- Add value to the existing business : Supplement the artist’s traditional model with strong corresponding Web3 strategy
- Think wide : Ideas that present unique utility for the fan base
- Add to our existing relationships : Partner our own artists with some of our partners (88?)
State of the Business
The music business as a whole has enjoyed a period of stability. During the last 14 years of the great streaming revolution, the metrics of the music business have seemed to arrive at a general consensus amongst label, artist, and streaming company. The music business has always been at the mercy of its technological counterparts and has rarely been at the formative ground level of the economics of an emerging space.
Enter Web3, a new space that can fundamentally change the economics of the music business, and greater, the entertainment industry as a whole. Even if we forget about the fact that consumption will result in immediate accounting and more accurate articulation of usage, we should consider the fact that the artist’s community will enjoy in the financial success from the artist themselves. This will create less dependence on traditional record label economics, and result in a greater amount of creative autonomy for the artist.
At the core, the music business has always been the prospect of volume, both in sale and in overall credibility. Although that may not change from the perspective of economic success, Web3 allows the artist to form their own marketplace complete with it’s own economics. Artists can finally put together products and utility that are far more customized to their own specific ecosystem and then subsequently, channel their fanbases through utility into wider marketplaces like the metaverse.
Over last several months, we have all witnessed a surge in the space of NFTs associated with musicians, but what has been lacking is a thorough ecosystem of products and utility that serve lasting function to their fanbase. The opportunity in this expansion into the Web3 space lies within an entry point of exclusive content that a driven fanbase is looking for, and with perks and experiences they can’t find anywhere else.
We are now entering a very interesting period where the music industry and opportunities around it seem to be a little more democratized than ever before. There is a sense of enthusiasm and optimism in the industry that is resonating beyond even the creative spaces of the music itself. The visual and sensory experience around the music is about to take life, and how does the artist create that? How do they move their music into the spaces they have never articulated their music experience in before, and how do we use our technology to help them do so? In here lies our opportunity.
2021-2022 Lessons Learned
The very first area to consider in this space is not the progress from a technological or capabilities perspective, but perhaps something that many of us didn’t consider when intersecting our work with the cultural gatekeepers, and that is work and industrial culture. At the core of our identity at Harmony ONE, is a culture of decentralized and transparent information, as it is also baked into the basic psychology of the overall Web3 space. However, this may not transfer so easily to our prospective entertainment industry partnerships that carry and create culture. Their proprietary information is sometimes rooted in the public’s level of anticipation and any breach or compromise in this area can reach deep legal ramifications.
Over the last few weeks, we have been engaged in relationships with several major strategic partners that have forced us to evaluate our culture and how we go about doing what we do. In all regards, there have been teachable moments that have allowed us to grow in healthy ways. It is after all, the exchange of understandings that come from reaching common ground that solidify people-oriented partnerships. As these partnerships grow and evolve, the audiences we nurture will need more content that is native and comes from an in-house perspective. These in-house operations will continue to bridge the content gaps with outside partners, but also help Harmony develop their systematic and programmatic engagement without any external restrictions or legal parameters.
Lastly, and perhaps most importantly, we have learned that the music industry feels that the current music industry model is antiquated and needs an overhaul. The autonomy that comes from a successful community/DAO is going to power the artist’s community going forward, but finding a successful business model that truly benefits the artist and its community is going to take time. More specifically, just how our Web3 operation is going to best interface with the traditional music business jurisdiction and its marketing power will provide the formula. That transition to Web3 from the traditional model is still some time away, until then, we have to best supplement it with unique experiences that builds an audience.
Our focus over the next three to six months is rooted in putting together an artist roster and building a proprietary content repertoire. While allowing the artist to exploit their content in the traditional realm of the music business, we allow 1MusicDAO to focus on the commerce in the Web3 and metaverse spaces. However, the most important goal for the artist in our Web3 world is to develop engagement around their own social token that is governed by an overall DAO for the artist.
The path for artist sustainability and success is paved not only through the artist, but also through the success of its community as a whole. With the power of the social token, fans will be able to vote on any number of points of engagement through the artist and then enjoy the financial success of its outcome. This circulatory effect will power the “queen bee” of the DAO to power its creative initiatives, but with financial and social benefits for the entire “colony”.
Our three month to six month plan for any artist would like this : The first-third of the time would be content production, the second-third of the time would be content release, and the final-third of the time would be product support and marketing. By utilizing the collective resources of some of our key culture and entertainment fellows at Harmony ONE, we plan on supporting the artists at 1MusicDAO with all the resources they would need to produce their content.
The focus of our content would be centered around solutions for the artist’s specific roadmap. Coming up with simple closed system ticketing solutions to NFT products that touch on the specifics of their creative content, to Metaverse supported world’s for the artists to hold mega-concerts; the world is our oyster. Driving fan engagement through a various realm of touchpoints including gaming and other Web3 elements could really provide new ways for artists to connect with their fans.
As artists on-board with their content, our initial focus will be to direct fans to our 1Wallet to develop engagement around our community oriented initiatives. For them to adopt our coin to purchase exclusive products or “drops” through the 1Wallet “Discover” tab, or be sent on a scavenger hunt with clues given to them through our 1Wallet “chat” tab, the possibilities are endless.
The final realm would be to utilize the social aspects of the 1Wallet to direct our fans to eventual metaverse activations like concerts or social clubs or any other gaming environments related to their favorite artist. This level of engagement will really help convert fans on many levels to our best attributes as a company. With the wide range of ways for the artists we sign to adopt different technological partners, we could create unprecedented bridging between tech and music. In fact, one could argue, with this convergence of technology and creative liberty, Web3 could facilitate the greatest creative environment ever, and Harmony ONE could be at the center of it all.
1st artist : G Yamazawa
Channel fanbase toward 1Wallet to create engagement around the “G Coin” social token to be governed by a G Yamazawa DAO. 5-out-of-9 DAO will govern the creative process and the treasury. The specific NFT’s are still to be decided.
General Strategy : Finish G’s EP/Album with hit producer Omarr Rambert. Develop a roadmap of Web3 products around this album. Finish all music videos, designing of NFT programs, and metaverse activations. Release the album in partnership and in tandem with one of our traditional record label partners. Share assets to create value for label and 1MusicDAO and create the ability for G to leverage a favorable deal in the traditional business. Release Web3 content every week for 12 weeks after the release through 1Wallet.
- Weekly events or listening parties in LA, SF, NYC with new talents
- Community Growth: Discord/Twitter (weekly) (e.g. 20% w/w growth)
- PR: Culturally focused media exposure (Monthly) (e.g. Rolling Stone, NYT…)
- Monthly AMAs w/ artists via Twitch or Spotify
- Launch artist's social media channels (e..g. TikTok, YouTube, Spotify podcast)?
- Sponsor 100 new talents in the next 3 months ($1000 / new talent)
Month 1 : May
- May 1-7 - G will record 3 new songs to finish his album titled “GEORGE”
- May 8 -14 - Music Production, Music Video ideation, NFT design, launch social coin
- May 15- 21 - Web 2 and physical marketing, Mix and Master Album, Visual collateral
- May 22- 28 - Record music video 1 and 2, Finish Album, Finish deal with traditional label
Month 2 : June
- Jun 1-7 - Launch NFT ecosystem, Turn in album, Record music video 3, Finish video 1
- Jun 8-14 - Release first single with music video, dig merch line, NFT series around song
- Jun 15-21 - Finish and release second music video and corresponding NFT series
- Jun 22 - 28 - Release album with new “blind minting” version of album
Month 3 : July
- Jul 1 - 7 - Launch DAO initiative, launch utilities around DAO and metaverse
- Jul 8 - 14 - Release 3rd song, begin Metaverse concert promo, Album gamified
- Jul 15 - 22 - Release documentary and related Web3 product
- July 23 - 30 - Metaverse Festival Concert
Spotify Streams monthly
Avg of Top 5 Videos/Views
45% - Artist
45% - Artist DAO
10% - 1MusicDAO
The Traditional Music Business
Licensing deal to a label where artist splits revenue from dollar one.
More leverage for the artist for marketing budgets from label
Potential partnership for some of our artists with current labels
5-out-of-9 DAO will govern the creative process and the treasury
Channel fanbase toward 1Wallet to create engagement around the “G Coin” social token to be governed by a G Yamazawa DAO. 5-out-of-9 DAO will govern the creative process and the treasury. The DAO will become autonomous from there.
Steps toward the DAO
- Net Takeaway : Use a 3 month music program to build community and launch a DAO
- We will use this community to create wealth for the entire community through Social Tokens through songs
- The 5-out-of-9 DAO will govern the creative process and the treasury
- Artist will advocate over the DAO or keep some kind of creative control
- Blind Minting of music - so no 2 people can get the same version of the song
- AI generated - dynamic
- Work approved by the dao, profit share will go :
- 45% to Artist
- 45% to Fans
- 10% to 1MusicDAO
- Can we build a concert venue or a metaverse space for all performers we engage?
- A “Donda-like” music player experience that is gamified on the web
- 1WALLET UX
- DeFI kingdom character or any other ecosystem for artist?
- Both for artist and fans
- Derive products from music and premium content to build engagement through 1Wallet
Goals for 1MusicDAO
- 1Wallet adoption
- Build User Acquisition
- Strengthen customer acquisition cost metric
- Build on the Blue Metaverse
- Integrate the Bored Apes
- Perhaps G can adopt one apes for 3 months: the story why G picks a particular one. See /apes
- Utilize the Gaming aspects: character, fashion avators
- Social Token
- #G Coin or #GY Coin
- Speak with Michael Fang about Liquidity Pools
- NFT program
- Open Sea Campaign - Leo
- Mad NFT/ ONE integration -
- Design New NFT programs/Rime/Other partners
- Drive Fan engagement
- G currently averages 45,000 streams, we project a 250,000 after our campaign
- Enlist KPI for other aspects
HYBE and Bang Si-hyuk Are Transforming the Music Business-With a Little Help From BTS
This April, Las Vegas might feel a little different. For two weekends, the stars of South Korean supergroup BTS will play concerts to sold-out audiences at Allegiant Stadium, filling the city with tens of thousands of passionate fans of their brand of high-energy K-pop.
One of 2022’s rising market trends in music is the sale of NFTs—nonfungible tokens that exist on the blockchain—of songs and other assets, like tradable photocards of artists. In late 2021, Bang announced HYBE would pursue building an NFT exchange of its own as a joint venture with fintech company Dunamu... is to have greater control over how NFTs are created and distributed... bullish on the future of NFTs for his artists.
The NFT question is just one piece in Bang’s vision of a new, better-functioning business model for artists. One of the primary challenges in the global music industry is the tension between artists, labels, and streaming platforms for fractional payouts. Bang’s method of evading that minefield is to diversify HYBE artists’ income streams. “While contemplating questions like: ‘How can we satisfy fans and expand the artist’s reach, and at the same time create a longer life span for music through narrative structure?’
Where HYBE has differentiated itself is in investing in technology that makes it possible to stream concerts virtually and own the artist-fan relationship, from ticketing to merchandise shops to live artist broadcasts, shows, and message boards. Weverse, where fans can go for all things related to HYBE artists, is what Bang calls a “great innovation.” HYBE also recently acquired VLIVE, a tech platform that allows for live video streaming to audiences. The group’s virtual concerts, streamed to over a million paying ticketholders worldwide, broke records for live viewership.
HYBE acquired U.S.-based media company Ithaca Holdings—which manages the likes of Justin Bieber, J Balvin, and Ariana Grande—for over $1 billion, invested over $420 million in a crypto venture... It also runs Weverse, a fan-to-artist social media app with nearly 7 million monthly users.
Page 1 - Intro (3rd paragraph)
- Article supporting "a relevant and long lasting relationship from the engaging fan..." etc
Page 2 - State of the business (1st Paragraph)
- Article supporting "a period of stability..." etc
Page 3 (2nd Paragraph)
- Article supporting "lacking is a thorough ecosystem..." etc
Page 3 (3rd Paragraph)
- Article supporting "seem to be a little more democratized than ever before"
Page 4 (2nd Paragraph)
- Article supporting "the music industry feels that the current music industry model is antiquated...unique experiences that builds an audience" etc
Page 4 - Strategic Priorities (1st Paragraph)
- Article supportinG "the most important goal...to develop engagement" etc
Page 4 - Strategic Priorities (2nd Paragraph)
- Article supporting "fans will be able to vote...enjoy the financial success" etc
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- Article supporting "driving fan engagement...could really provide news ways" etc
Page 5 (2nd Paragraph)
- Article supporting "scavenger hunt...possibilities are endless" etc
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- Article supporting "utilize social aspects...to direct our fans...this level of engagement will help" etc