Arabian Prince – a founding member of one of hip-hop’s most famous groups NWA – is a staunch supporter of blockchain technology and believes it provides a lot of value in the music industry.
Arabian Prince claims it is common for music artists to not receive the money they are rightfully entitled to from their music.
“One thing that I see – especially coming from the group that I came from and the era I came from – even to this day, you hear about a lot of people in the music industry still getting ripped off with what they create,” the music mogul says.
“We as artists have to be able to protect our intellectual property.”
Music is an interesting case when it comes to intellectual property because it is not a tangible item that can be bound with copyright protection.
“Music and lyrics are hard to protect man. But, what’s bad is the way people get paid,” Arabian Prince reveals.
The distribution of money trickles down the chain starting with either the record company or an individual such as a manager.
“A lot of times that money doesn’t trickle down to the artist,” the rapper says.
Blockchain could help drastically alter this dynamic. The immutable ledger would hold all relevant information regarding who contributed to the song, such as who wrote the lyrics, who produced the beat, and so on.
“So, every time the song sells or every quarter it makes, the artist would get their money, and I think that’s how it should be. Take the human factor out,” says the producer.
“Humans are weak, we are weak, you know? I really believe everyone has a good heart in the beginning – but if you have a song that blows up and you get a check for $20 million, your heart turns bad really, really quick.
“You think about that Ferrari and the house you can buy and it happens. So, I think blockchain will help fix it.”
Interested in reading more Arabian Prince-related stories? Discover more about the NWA founding member joining LimeJuice to market an upcoming game and create an eSports league.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.