In today’s world, NFTs have been publicized for their use of many areas of ownership, one of them being music. However, this is the first time someone has done so in a way that encourages engagement with the community. ChillRx is the first to use its NFTs in a way that allows the community to participate in each phase of the music creation process.
The mission of ChillRX is to give power back to music by bringing artists, musicians, and creative individuals together. In this way, the web3 concept aims to liberate music from the shackles of the corporate industry, while reshaping the mainstream culture. It gives independence to the artists who create this project, rather than their contracts binding them to the decisions of the record label. In addition to fostering the community, ChillRx is developing a series of web3 products tailored particularly to the music and creative process.
“I feel like the music industry is always behind when it comes to technology, and this project allows me and the community to be at the forefront of it,” music producer Sidney Swift says. “This includes building things like play-to-earn plugins and layered web 2.5 ramified song drops.”
Sidney Swift is a producer who has worked with numerous artists from different genres, like Beyoncé, Major Lazer, DJ Khaled, Rita Ora, and more. As the face behind chillpill, a digital artist who is the medicine for the music industry, he is one of the most well-known names in the music production world. Those who have suffered adverse effects from the music industry were his inspiration behind the projects.
Now, Swift envisions going back to the community to give back to the community after giving so much to the artists he worked with. His mission, and the most effective thing he can do to advance the culture of music one day, will be to educate web-native artists and creatives over the next year or two about the value of web3 to them.
“When an artist can be self-sustaining with 1000-fans, we have millions of streams and get paid 4000-dollars for millions of streams, and that is an unsustainable model for growth in the music industry,” Swift explains. “So we’re going to be moving off of that model over the next couple of years and into a more intimate, fan-driven model!”
As part of chillpill’s further commitment to the community, community members will also receive extra benefits. Members enjoy various perks, including VIP access to industry events and festivals, unlimited access to the elite team, as well as philanthropic support. The ChillRx team is most focused on their community right now, and also provides office hours for industry professionals to answer any questions they may have about the music industry, the particular songs they have released, or anything else they may need.
“We have a direct line to music industry professionals, and then we have weekly sample giveaways and challenges to keep the creative juices flowing,” Swift says. “We also hold community songwriting sessions, so everyone can see how songs are created and work together to enhance them. When it comes to the creative side, I think keeping the energy alive and everybody collaborating is the key to success.”
The on-chain audio plugins that ChillRx is developing are one of Sidney’s favorites because it is a first for the industry.
“I always think back to when I make music and sit there, and how many hours I put into versus how much monetary gain at the end of the rainbow there is,” Swift says. “It’s tough to crack through and actually make a living as a music producer, artist, songwriter, etc. So this plugin is important to me because it’s an open-source plugin and allows the rest of the community to build on top of that.”
Using this plugin, holders will earn passive income while making their songs, because they stake their NFT while creating. With the power to write, produce, and determine your own creative future, the community holds the answers – which is why ownership is so valuable.
“It’s just a side revenue stream that assures you that you will always make money. You are still here even if the song doesn’t do anything.”
Because strategy, rollout, and marketing plans can all change at the drop of a dime, the music industry presents many challenges. With Sidney Swift’s experience as a music producer and now NFT creator, he says the challenges of creating stability in the community are due to everything in the music industry being so rapid and fast-paced, as one day is equivalent to a month in the web3 world. Yet, there are still many pros that outweigh the cons in maintaining a music NFT community.
“The pros of having a direct-to-consumer line, getting payments immediately, and not having to wait for publishing and royalties that go to three or four companies to get to the artists and creatives are great,” Swift states. “It propels creatives and artists to think about their career in more like a startup mentality, rather than a hobbyist mentality, which I believe is the whole ChillRx project in concept.”
After its public sale went live, ChillRx sold 9,999 NFTS in just over 11 hours. Additionally, by the end of this month, Sidney Swift will be attending NFT.NYC and speaking at the event, as well as hosting a satellite. In the meantime, if you are interested in learning more and/or joining the ChillRx community, visit their website here.