{"id":"TH-lFZsTwEo","title":"NEAR Protocol - Record Labels Built on Blockchain","description":"How is building a record label on the blockchain making a difference for artists?\n\nThis video explores the core features of a record label, and how Web3 and NEAR is disrupting this model, helping artists and musicians capture a bigger slice of the pie.\n\nJoin NEAR's community:\nWebsite: https://near.org/\nReddit:   / nearprotocol  \nTwitter:   / nearprotocol  \nDiscord: https://near.chat/\nMedium:   / nearprotocol  \nBlog: https://near.org/blog/\nGitHub: https://github.com/near  https://github.com/nearprotocol\nDev Docs: https://docs.near.org/\nCreate a wallet: https://wallet.near.org/create\nApps on NEAR: https://awesomenear.com/\nLearn to Build On NEAR: https://www.near.university/\nGrants & Funding: https://near.org/grants/\n#Blockchain #FutureisNEAR #NEAR #nearprotocol\n#nft #dao","channel_name":"NEAR Protocol","published_at":"2022-05-10T00:00:00.000Z","thumbnail_url":"https://img.youtube.com/vi/TH-lFZsTwEo/hqdefault.jpg","transcript_text":"a record label on blockchain yep musicians on nir have created collectives that vote produce music and ensure creatives get their fair share without a middleman in sight in this video we'll show you how first it's important to understand what a record label does so we can see why web3 does it better a key role for a label is the distribution and management of royalties in the web 2 world a company will collect those fees and distribute them to artists after they've taken a cut in the web 2 world artists wait weeks or even months to get their cut from their work but in web 3 there are no middlemen dow records a record label built and operated on near uses nfts and smart contracts that means whenever an artist releases a song or performs they can set up instructions for how royalties should get paid if a record is streamed sold sampled or remixed for example the smart contract can direct funds back to the artist automatically on near royalties can be split and distributed to up to 40 people immediately costing a fraction of a cent to do so something not even other blockchains can do the second key label function is contracts artists join record labels but often have little input and control over the terms of the agreements not so in web3 artists have already begun using services on nir like the legal guild a community service staffed by trained lawyers to build contracts that allow creatives to maintain the ip of their work or even allow them to set up their own music platforms independently for independent artists self-releasing seeking out this legal advice is a crucial step in protecting their creative works and getting paid this model has given artists the freedom to decide their own path helping them focus on what matters most making great music the third core function of a record label is to arrange and promote artists at live events but in web 3 artists are promoting themselves the metaverse is quickly becoming a go-to place for events and live gigs dao records host live events every week and artists get to vote and choose where in the metaverse they should perform and more importantly how the record label spends its money so there you have it a record label in web 3 allows musicians to record perform and connect with fans in a way that suits them a record label on mirror allows that to happen simply quickly and securely try it for yourself","transcript_synced_at":"2026-11-04T04:05:01.355Z","segments":[{"start_seconds":1,"text":"a record label on blockchain yep musicians on nir have created collectives that vote produce music and","url":"https://www.youtube.com/watch?v=TH-lFZsTwEo&t=1s"},{"start_seconds":8,"text":"ensure creatives get their fair share without a middleman in sight in this video we'll show you how first it's important to understand what","url":"https://www.youtube.com/watch?v=TH-lFZsTwEo&t=8s"},{"start_seconds":16,"text":"a record label does so we can see why web3 does it better a key role for a label is the distribution and management","url":"https://www.youtube.com/watch?v=TH-lFZsTwEo&t=16s"},{"start_seconds":24,"text":"of royalties in the web 2 world a company will collect those fees and distribute them to artists after they've taken a cut in the web 2 world artists","url":"https://www.youtube.com/watch?v=TH-lFZsTwEo&t=24s"},{"start_seconds":33,"text":"wait weeks or even months to get their cut from their work but in web 3 there are no middlemen dow records a record label built and","url":"https://www.youtube.com/watch?v=TH-lFZsTwEo&t=33s"},{"start_seconds":42,"text":"operated on near uses nfts and smart contracts that means whenever an artist releases a song or performs they can set","url":"https://www.youtube.com/watch?v=TH-lFZsTwEo&t=42s"},{"start_seconds":50,"text":"up instructions for how royalties should get paid if a record is streamed sold sampled or remixed for example the smart","url":"https://www.youtube.com/watch?v=TH-lFZsTwEo&t=50s"},{"start_seconds":58,"text":"contract can direct funds back to the artist automatically on near royalties can be split and distributed to up to 40","url":"https://www.youtube.com/watch?v=TH-lFZsTwEo&t=58s"},{"start_seconds":65,"text":"people immediately costing a fraction of a cent to do so something not even other blockchains can do the second key label","url":"https://www.youtube.com/watch?v=TH-lFZsTwEo&t=65s"},{"start_seconds":73,"text":"function is contracts artists join record labels but often have little input and control over the terms of the","url":"https://www.youtube.com/watch?v=TH-lFZsTwEo&t=73s"},{"start_seconds":80,"text":"agreements not so in web3 artists have already begun using services on nir like the legal guild a community service","url":"https://www.youtube.com/watch?v=TH-lFZsTwEo&t=80s"},{"start_seconds":88,"text":"staffed by trained lawyers to build contracts that allow creatives to maintain the ip of their work or even allow them to set up their own music","url":"https://www.youtube.com/watch?v=TH-lFZsTwEo&t=88s"},{"start_seconds":97,"text":"platforms independently for independent artists self-releasing seeking out this legal advice is a crucial step in protecting their creative works and","url":"https://www.youtube.com/watch?v=TH-lFZsTwEo&t=97s"},{"start_seconds":105,"text":"getting paid this model has given artists the freedom to decide their own path helping them focus on what matters most making great","url":"https://www.youtube.com/watch?v=TH-lFZsTwEo&t=105s"},{"start_seconds":114,"text":"music the third core function of a record label is to arrange and promote artists at live events but in web 3 artists are","url":"https://www.youtube.com/watch?v=TH-lFZsTwEo&t=114s"},{"start_seconds":123,"text":"promoting themselves the metaverse is quickly becoming a go-to place for events and live gigs dao records host","url":"https://www.youtube.com/watch?v=TH-lFZsTwEo&t=123s"},{"start_seconds":130,"text":"live events every week and artists get to vote and choose where in the metaverse they should perform and more importantly how the record label spends","url":"https://www.youtube.com/watch?v=TH-lFZsTwEo&t=130s"},{"start_seconds":138,"text":"its money so there you have it a record label in web 3 allows musicians to record perform and connect with fans in a way that","url":"https://www.youtube.com/watch?v=TH-lFZsTwEo&t=138s"},{"start_seconds":147,"text":"suits them a record label on mirror allows that to happen simply quickly and securely try it for yourself","url":"https://www.youtube.com/watch?v=TH-lFZsTwEo&t=147s"}],"youtube_url":"https://youtube.com/watch?v=TH-lFZsTwEo","url":"https://near-pedia.xyz/videos/TH-lFZsTwEo"}