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As long as the (AI) outcome is income

As musician Drake once said, "I guess you lose some and win some / Long as the outcome is income." This sentiment rings true now more than ever, as we navigate the challenges of AI in the music industry. Protecting the rights of musicians and creatives in the age of artificial intelligence (AI) is a complex but crucial issue. Simply banning AI in the music industry won't work, as we learned with digital rights management technology. Instead, we need to figure out how to work with music AI to make money from it.

Luckily, we can now protect intellectual property rights using smart contracts and blockchain technology. I know, another argument for web3 & blockchain but hear me out.

Smart contracts are contracts (written in code) that specify how artists and creatives get paid for their work. When a smart contract is deployed on a blockchain network, it becomes a part of the blockchain's distributed ledger. The terms and conditions of the contract are recorded on the blockchain, creating an unchangeable record of the agreement between parties. This means that once the contract is executed and recorded, it cannot be altered or tampered with.

The code of the smart contract is stored on the blockchain, and when certain conditions are met, the contract is executed automatically without the need for intermediaries. This creates a transparent and efficient system that can help to automate and enforce agreements between parties in a secure way.

In the music industry, smart contracts can be used to ensure that artists and creatives receive fair compensation for their work. By specifying the terms of use and licensing for their intellectual property, artists can protect their creative works and prevent piracy and unauthorized use.

Musicians, record labels, and other IP rights holders can earn money from any derivative work that's recorded on the blockchain, such as remixes, acoustic versions, STEMS and any other derivate work you can think of.

Although smart contracts & blockchain technology offer potential benefits for protecting the intellectual property rights of musicians and creatives, the music industry has been slow to adopt these new technologies. Maybe with the recent "scare" of music generated by AI, our industry will start to explore and adopt a new perspective on the issue.

There are musicians who have even turned to web3-only platforms, recognizing that these technologies can provide more financial benefits than relying solely on streaming royalties. By utilizing web3, these musicians can generate substantial revenue and maintain greater control over their intellectual property.

The music industry must keep up with these technological advancements to not only protect the intellectual property rights of musicians and creatives but also to profit from all that web3 has to offer. Utilizing AI and generative works can open up new revenue streams and opportunities for the industry as a whole. By embracing these technologies and adapting to the changing landscape, the music industry can better serve the needs of both artists and consumers and stay ahead of the curve in a rapidly evolving industry.

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