Original posted here on UPROXX

Based on last year’s reported gross sales of vinyl records, it would be safe to assume that vintage music technology is making a coming back. However, this doesn’t seem to be slowing down the industry-shifting moves happening in the metaverse, on Web3, and with NFTs. Big-name acts such as Snoop Dogg, Gorillaz, SZA, Sia, Steve Aoki, Styles P, and Grimes have all raved about the mediums. Some even racked in tens of thousands of dollars in the process. Hell, even music platforms Spotify, Limewire, and the beloved music festival Coachella have jumped on board. But they aren’t the only entities benefitting from these creative havens.

Many technologically savvy musicians, producers, and DJs are no longer seeking deals (recording, publishing, or otherwise) with major record labels. Instead, they’re leveraging their independence to explore the larger financial payouts that the metaverse, NFTs, and Web3 have made possible. For the novice, it is important to define these terms to drive home just how innovative these tech and music intersections are. In layman’s terms, the metaverse is a 3-D virtual reality that exists in tandem with the world we live in today, just without the restrictions of physics or geography. Musicians can host concerts, meet-and-greets, and more for fans across the world in real-time, all for a fraction of the cost.

As for Web3, put plainly, it is a decentralized internet powered by blockchain where the power remains with the individual (who owns the data). The public internet in use today is referred to as Web2. Web3 is the tech container or infrastructure, and in most cases, there is a cost of admission to enter these digital gates. Cash will be of no use to you, you need to pay via a non-fungible token (NFT). Contributing writer Dane Rivera defined them best. NFTs are cryptocurrencies stored on the blockchain. NFTs are self-defined but, most importantly, “valued independently from one another,” meaning the individual creator of the token determines the value. Whereas in the world of tangible currency, for example, the value of the American dollar can fluctuate depending on the global markets.

The NFT and Web3 music spaces are still relatively new in the grand scheme of things. So, when considering rising artists for this list, only independent recording artists were considered. DJs and producers were not considered. Other qualifying criteria included the number of collections available for purchase, total gross income earned from their public collections, and overall impact on the community.