Jamify: The music NFT platform where artists run their own direct membership club

As part of CoinGeek’s SXSW coverage, we’re reaching out to the various music platforms that build on the BSV blockchain to learn more about how they’re empowering artists, creating unique revenue streams, and strengthening relationships with fans. In the next interview of this series, we interview Jamify, where artists earn their craft, engage with fans and be heard by all.

How does your platform uniquely serve audio content?

Jamify: We plan to tokenize audio content and use it as a passport to access other services and benefits. It’s almost as if each artist gets to run their own direct members club.

What are the flaws in Spotify’s (for example) business model?

Jamify: Their model is fine for now, but new tools have come online that allow artists to engage more directly with their fan base in areas that have traditionally been controlled by industry specialists on their behalf. Spotify and others have plenty of time to adapt, but things will move quickly if artists learn how useful this technology can be for them.

How does your platform connect fans and artists more directly?

Jamify: Since a fan has audio NFTs in their wallet, platforms can look for them to allow access to special features. An example could be joining a group chat with the artist only for token holders or getting a discount or first coupons on exclusive items. There are endless ways to use this technology to fuel the artist-fan relationship.

Do you see the pay-per-stream model as having too much friction for listening to songs versus ads or subscription models?

Jamify: I think, depending on the context, they all have their strengths and weaknesses. For forward-thinking artists, there is a potential future where allowing free streaming earns more than paywall access to the music.

If metered streaming really is what the market ultimately wants, we have a fast, cheap payment system we can use to deliver that too.

Do you see blockchain technology disrupting the current music industry?

Jamify: Yes, I definitely think it will have a massive impact in several ways. From the way we store files to the way users contribute to content curation, the way we list things for sale, tokenize digital media and grant access rights, etc.

All of these things will have an impact on the music industry, and anyone who wants to stay relevant will have to pay close attention in the years to come.

What role do you see NFTs playing for artists in engaging their fan base?

Jamify: I see it as an important tool. It’s about treating your craft more like an independent business. Create ways to earn directly from your fans while giving them new ways to return value to their fans. It is a win-win situation, and even next to the traditional system they will find a place.

Why did you choose to implement Bitcoin SV for your platform?

Jamify: I realized a long time ago that everyone would eventually migrate to where these things actually scale and can handle the demand from the rest of the world. Other factors such as a fixed protocol, being proof-of-work based and having low transaction fees are also hugely important.

Do you have or plan to implement some aspects of other blockchains (e.g. Ethereum, Solana) on your platform as well?

Jamify: Actually, yes, but I can’t talk about it yet. 🙂

Jamify has teased a fungible token $JAM in the past – any updates on the launch?

Jamify: The token space in BSV has been a bit turbulent recently with the exit of RUN. There are some developments happening on that front that I think will clear a way forward for this, but it’s not far enough along that I can give more details yet.

What are your thoughts on the Ordinals development happening on BTC and other blockchains (Litecoin, Dogecoin) and how it potentially affects music NFTs going forward?

Jamify: I think the excitement and spirit of development it has encouraged is amazing. There are some unique and interesting things about Ordinals that will likely continue to spread to other chains. I wouldn’t be surprised if it eventually had some impact on Jamify.

At the very least, the use of music NFTs will surely pick up on BTC in the short term, and the appetite for more space, lower fees and more flexibility will also grow.

How does Jamify implement Open Social protocols?

Jamify: Jamify is just starting to implement BSocial by announcing new albums when they are featured and when they like artists, albums and tracks. It will definitely become more deeply integrated as time goes on.

Thank you, Jamify, for answering my questions. I hope readers learned more about the platform and how they uniquely approach monetization in the music industry.

This article has been lightly edited for clarity.

See: Entertainment, Sports and Blockchain

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