Major record labels are large companies that run their own distribution and publishing companies and have huge financial budgets for marketing, production, touring, etc. On the other hand, independent labels tend to be artist-friendly and offer many other advantages that may mean more to the artist. However, they don’t have the funding for artists that major labels can afford.
DeFi (decentralized finance) can introduce new incentive structures that re-examine the artist’s role. DeFi infrastructure can fractionalize NFTs and provide artists with new
tools to receive royalties, compound interest accounts, and on-chain transparency concerning where their royalties go. Several established Web3 projects seek to remove intermediaries altogether to enable artists to publish decentrally. Equally, the trend toward decentralization continues. NFTs will be a fundamental technology pushing DeFi into the entertainment industry, authorizing the deposit of stablecoins with compounding mechanisms via protocols like AAVE.
US-based rapper Lokey Bunny is on the rise as one of the first crypto rappers who owns a DeFI empire with hundreds of investors while owning properties in the metaverse. He also singlehandedly manages funds, his entire music operation, and is branching into the p2p space. Lokey Bunny is the first in history to have a DEFI platform that supports his career in a way that makes him truly indie. A lot of artists say they’re independent, but the fact is that Lokey Bunny owns a DeFI business: Lokeys.World is a legacy, somewhat high-yield investment platform in the DeFI space.
Lokey Bunny rose to fame during his viral YouTube passive income videos, and he has attracted over 34K subscribers while teaching people how to create a passive income within the crypto space. However, he recently turned his platform into an off-the-grid record label designed for investors to purchase a percentage of his music by investing
in his platform. Investors receive 2.5% on merchandise, music, and more.
Lokey Bunny shared that his biggest challenge was self-funding his music career without the help of a single label. He consequently advises people to learn how
to position themselves within the music industry, or any industry for that matter, by developing a constant stream of income through Defi.
Through Lokey Bunny’s writing, you can easily learn how to position yourself in a Web3 world where currency is now a digital number. “More wisdom can be taught to
others in the industry on how to separate themselves from a marketing perspective and become essentially ageless for generations of consumers,” Lokey shares.
Lokey Bunny also hints that his brand will fully emerge within the metaverse in a few years and that his many NFT projects released will contain utility. He also wants to show investors and other moguls within the crypto space how to legally fund their careers by turning investors’ liquidity into a gold mine through creative talents like himself. “The brand will be full p2p (peer to peer), from digital consumer sales, tickets, and more. The idea is to showcase a fully transparent blockchain marketing/advertising business that directly touches consumers at all levels,” the rapper declares.