Loop Fans has revealed details of their Web3 music awards, aimed at helping emerging artists grow in the era of AI and Blockchain technology.
The platform enables emerging talent in the electronic music industry to gain new followers, grow closer to their existing and new fans, as well as the ability for them to create content, increase revenue streams and reward loyalty, all with the unique power of blockchain, AI and Digital Collectibles (NFTs).
Loop Fans is built by a highly experienced team with prior experience in building and scaling multiple Web3 projects. This new platform is here to ensure that artists can earn what they deserve from their music while also building, nurturing and rewarding their fan base.
Loop built the world’s first multi-utility NFT technology in 2022, meaning each token can offer a range of benefits that can be viewed, redeemed, and unlocked including exclusive content, event ticketing, private memberships, merch giveaways, metaverse experiences, and more.
The platform has also built AI technology which allows artists to easily create cover art, music videos, and social media posts – areas which artists are traditionally not great at but which are essential in today’s social media driven landscape.
As part of its launch, Loop will inaugurate the Web3 Music Awards in May for both emerging and established artists to leverage the power of their fan base and climb to the top of the leaderboard. Entrants simply set up a profile on Loop fans, join the relevant genre and invite fans to vote by minting free digital collectibles (NFTs). There are three divisions based on the number of social followers with one winner per division.
For artists, Loop allows direct engagement with and monetization of their audience. True fans are proven to be willing to pay more for exclusive content and experiences which means more income for artists while digital collectibles broaden out the type of content and benefits that can be offered.
The better and more exclusive the benefits the more engaged a community becomes and the more an artist can earn. What’s more, Web3 technology offers global, borderless reach so hype can be created across multiple markets and lead to exciting new collaboration opportunities and sponsorship partnerships.
Apart from digital benefits, Loop also offers benefits in the real world such as at concerts and festivals where meet and greets can be offered through the release of exclusive digital VIP passes.
Loop Fans is built on the Loop Protocol, which is built on the Cosmos SDK. Having raised over US$7M in 2021, Loop Protocol is playing a key role in building the decentralized economy and providing practical, real-world applications for blockchain technology. Loop is powered by its own cutting-edge technology, all under the guidance of CEO Thomas Norwood who has a long history in building innovative technology solutions for the real world.
Thomas’s vision is to help artists of all sizes realize their dreams of success. He explains, “Blockchain technology is not just revolutionizing the financial industry, but democratizing the music industry as well, allowing artists to have direct connections with their fans and generate more revenue than through existing platforms.”
