Ashanti aims to bring women to Web3, says “owning is important” at NFT music meetup

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Ashanti aims to bring women to Web3, says “owning is important” at NFT music meetup

The multi-billion dollar music industry is undergoing major changes as artists begin to understand the potential of owning their work through non-fungible tokens (NFTs). Ashanti, a singer, actress and EQ Exchange co-founder who sells multi-platinum, is a women-led Web3 platform that sheds light on the recent Cotton Candy Records meetup in New York on June 20th. I did.

Ashanti, who spoke at the panel with Janice Taylor, founder and CEO of EQExchange, elaborated on how important ownership is to today’s creators. From his personal experience, Ashanti states:

“It’s very important to continue the story that owning is the way to go. Who wakes up, pours his heart, blood, sweat and tears into the project and you do all the work While you want someone next to you to enjoy all the benefits? That was the way my deal was set up years ago, but now 20 years later, the new master of the first album. You have the right to re-record and own it. “

Cayley-Hamilton moderated a panel with Ashanti and Janistailer, CEO of EQ Exchange, in a music NFT meetup released by Cotton Candy Records. Photo provider: @darnopolis

Why ownership is important for creators

Ashanti tells Cointelegraph that the process of creating an album and releasing a music NFT before Web3 is very “disappointing” and the artist signs a record deal to create an album, which sells for about $ 15. I pointed out that. “Of that amount, the artist will only receive about $ 0.38, which was the high end,” said the R & B legend. As Ashanti began to realize that this was a common process, he began to consider alternative ways to own his intellectual property.

Approximately 20 years after the debut album was released, on March 25, 2022, Ashanti partnered with EQ Exchange to become the first black female artist to co-found a Web3 company. Following this, Ashanti released the NFT collection using EQ Exchange on April 6, 2022. It was released to commemorate the 20th anniversary of the artist’s first album. Ashanti.. According to Taylor, Ashanti sold the first five NFTs in minutes. Ashanti is impressive, but the underlying message behind the Music NFT is that “owning your work is very important.”

In addition to ownership, Ashanti explained that her NFT collection is intended to benefit her fans in many ways. “Fans receive the exclusive right to listen to my music first, which means that fans will also own the music. They are also new, with access to show tickets, vacations, and exclusive drop. You will receive a percentage of the record’s royalties, “she said.

Web3 women aim to inspire

Ashanti further stated that her role in the NFT collection and Web3 space aims to stimulate the involvement of larger women. This is very important because media companies EWG Unlimited and The Female Quotient recently discovered that men continue to dominate Web3. According to the report, only 16% of Web3 creators recognize that they are women, which leads to a male-specific prejudice. With this in mind, Ashanti said:

“I didn’t expect to be in the Web3 space a million years later. But I had to dive into this field as an independent artist. The Cotton Candy Record meetup was the first cipher I spoke of. It’s an event focused on. I want to do more of these to keep inspiring other female creators and women of color to participate. “

EQ Exchange CEOs Janistailer and Ashanti at the Music NFT Meetup released by Cotton Candy Records. Photo provider: @darnopolis

Taylor adds that education and events are important to pull more women into the Web3 space, and hire a male co-founder of EQExchange’s crypto-native native to make it look “legal.” Said said first. “Some of my first investors thought this would help me look better at the crypto industry, even though I’m the founder of the technology three times. Taught me. ”

Fortunately, Taylor ignored this comment and appointed Ashanti as co-founder of EQ Exchnage. “I especially wanted women and colored women to be my partners, because that’s the message I need to hear here,” she said.

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Access Abu Dhabi founders Echoing Taylor, Sarah Omolewu — a program designed to encourage women and minorities to enter the UAE’s business ecosystem — brings to age and financial status by joining the crypto community. Regardless, she told Cointelegraph that she would provide an opportunity for women to build new career paths. She said:

“American women were unable to receive credit from banks until the Equal Credit Act was passed in 1974. Fast forwarding in 2022 will direct less than 2% of venture funding to women-led businesses. Web3 could be an equalizer that would change this story by involving women in the first stages of blockchain technology. In this space, 93-95% of all cryptocurrency users are now men. “

While women are still a minority of Web3 users, Access Abu Dhabi has recently announced Unstoppable Domains (a platform that grants ownership of NFT domains) to provide free blockchain domains for all nationalities of women living in Abu Dhabi. I explained that I partnered with. “Partnering with Unstoppable Domains to give every woman in the country a free blockchain domain for the first time is the first step in our long-term goal of destroying this space for women in the region,” she said. I am saying.

Access Abu Dhabi founder Sarah Omoreu hosted a panel session with supermodel-turned businessman Tyra Banks. Abdulla Abdul Aziz Al Shamsi, Acting Secretary Abu Dhabi Investment Office. sauce: Sara Omoreu

Adding context to this, Sandy Carter, Senior Vice President of Unstoppable Domains, told Cointelegraph that Unstoppable Domains represents a user’s digital ID and makes it easy for non-cryptocurrency natives to access Web3. .. “For example, users only use NFT domains, so they don’t have to enter complex wallet addresses to send and receive crypto transactions.”

According to the Unstoppable Domains website, Coinbase Wallet, ShapeShift, and other crypto wallets are supported applications. “We have more than 300 partnerships. In fact, Paris Hilton recently changed its Twitter handle to Paris Hilton.NFT,” Carter added.

Paris Hilton Twitter handle. Source: Twitter

Now is the time for women to enter Web3

Even with the benefits of music NFTs and the encouragement of influencers, women may find it difficult or intimidating to enter the Web3 sector. However, Carter advised that women should start sooner or later, noting that space is still very early. “I would like to say that we are in the dial-up stage of Web3. We are reshaping what the Internet is and now we need a variety of voices.”

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From the perspective of financial inclusion, Taylor added that EQ Exchange is helping artists, especially women, to provide a sustainable financial system that enables them to thrive. The platform was launched in March of this year, but Taylor shared that other female creators are already planning to launch the NFT collection. For example, recording artist, actress and producer Monifah told Cointelegraph that he would launch an NFT collection on EQ Exchange in July 2023 to commemorate the 25th anniversary of the single. touch..

Monifa also believes that music NFTs are the future of the industry, and artists need to do their own research and join now.

“At this point, if I did something the traditional way, I think it would be strange. I tell the artist to focus more on Web3 and come up with a way to direct this space,” she said. Told. Still, Monifah also shared that Web3 still feels difficult. She said, “I’m still navigating the Web3 space, but it’s exciting. I want to introduce Web3 to the younger generation.”