In a panel discussion at Benzinga’s Future of Crypto event, “The Value of Crypto and NFT in Entertainment,” the popularity of Web3 music, particularly hip-hop, was clearly evident with the inclusion of the two-time winning producer. from the grammys Ramon “Illmind” Ibanga, Jr. Y WiFi point.

WiFi claims to be the most famous, and only, cryptopunksbased rapper. When asked about the massive consequences of the FTX FTT/USD collapse, WiFi was blunt: “The NFTs cannot be separated from these scandals, they are coupled. There are also scams in the world of NFTs. I think, at the end of the day, we need to help communicate not only the features but also the benefits.” WiFi said.

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The panel, which included Ben Weissfounder of FLIGHTTXY michael echsteinfounder and CEO of All Certified Inc.examined the role of artists who need to provide a user experience that is as easy and intuitive as using large Web2 platforms such as Spotify PLACE.

“If you have followers, you can do many things for your fans on web2. [So] We have to take into account your experience in Web3; we need to create solutions that are easy for the fans,” said Illmind.

upcoming releases

Illmind will release the debut album from their music community NFT, knight squadin the first quarter of 2023.

His project is an exciting realization of an active Web3 community with members helping each other to record and produce music content, but the project will rely on Web2 distribution platforms to distribute the music.

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“For an independent artist like me, one of the most challenging things is finding developers. You cannot make individual declarations in OpenSea. Developers are incentivized to produce the next 10,000 crazy kangaroos and print money,” WiFi said.

Echstein, who was also moderating the panel, said: “We need to evolve beyond collectibles. The creators need to get closer to the fans.”

Watch the full interview on Benzinga’s YouTube channel and stay tuned for more information on Benzinga’s Future of Crypto event.