AmplifyLive Showcase a Solution That Will Transform the way Artists Earn
Amplify, the company on a mission to create a new Web3 powered way for artists to earn more money, showcased a successful proof of concept of their ground-breaking technology — demonstrating the incredible potential to change the music industry for the better.
Founded by Irfon Watkins (CEO of Dovu and Founder/Chairman of TapX) and Ian Matthews of Kasabian, Amplify are creating a new music economy with a vision to end the feast or famine nature of the music industry. Through a combination of NFT gated access to livestreamed gigs and DeFi (decentralised finance) Web3 technology, every gig performed with AmplifyLive provides a sustainable source of income for the performing artist on top of their existing revenue streams.
In this first showcase of Amplify’s proprietary DeFi Web3 technology called AmplifyLive, attendees from both the music and tech industries came together to see a vision for community-owned sustainable music income in action. With an audience both in-person at Bristol’s Lost Horizons club and via livestream, emerging Bristol via South London artist Emz took to the stage as a live counter demonstrated the additional DeFi-enabled income generated.
Now, a month later, the counter for additional sustainable income has reached over $190, showcasing a solution that transforms the way artists earn with a platform that’s both technology-powered and community-driven.
This first gig of many will remain available for online access. The more an artist hosts their gigs through the platform, the potential long-term sustainable earning for an artist, on top of traditional profits, becomes significant. With a community of over 90,000 strong, Amplify is removing core barriers in the music industry. Together, Amplify hopes that their DeFi solution can enable better growth, and earning potential, for musicians everywhere.
“Amplify is a business that we’ve set up to keep paying the artist long after it’s finished.
The idea is that how can we create a new live music economy that keeps paying the artist long after the gig has finished and stream that money into their wallets so they earn a living if lockdown ever happens again, they can have a passive income from work that they have done previously.
We’ll be doing this in real life, we’ll be doing this in the metaverse all at the same time. It’s an exciting new music economy we’re building, and I hope that you’ll follow us on that journey, participate and help, it’s a collaborative experience and we need all the help that we can get.
If you love music, it’s great for the music industry.” — Irfon Watkins, Co-founder of Amplify
“Web3 will have a huge role to play in the future with the music industry. It will open up a whole new realm of possibilities in the way artists are rewarded for performing both live shows and within virtual events.
Having worked as a musician most of my life I am well aware of the constant financial pressure that comes with the job, so I’m excited to head-up a project that aims to make it far more financially viable to work and survive in the industry. — Ian Matthews, Kasabian & Chief Music Officer at Amplify