The best time to build a web3 business is now
“In the midst of chaos, there is always opportunity.”
“In the midst of chaos, there is always opportunity.”
When Sun Tzu published ‘The Art of War’ he may not have had the modern day Web3 entrepreneur in mind, but there’s no denying that they’ve certainly heeded his advice.
Historically, economic recessions are marked by vast increases in entrepreneurial activity. 57% of today’s Fortune 500 companies were founded during a recession and over 4.4 million new businesses were created in the U.S. in 2020 — at the height of the COVID-19 pandemic.
It’s no secret that the crypto bear market has roughened the road for organizations and individuals looking to use NFT tools to build new businesses. Our recent conversations with Creators across music, art, and film have been filled with numerous questions like:
➡️ “What types of Web3 tools do I need to create and build my business?”
➡️ “How do I make sure that I get paid when my NFTs are sold and resold?”
➡️ “What do I need to do to protect my rights and the rights of my collectors?”
From our perspective, the burst of the NFT trading bubble forces greater innovation and provides the real builders with the opportunity to bring Web3 back to its creative roots — hopefully without so many Twitter shill-bots and the relentless focus on pumping bags.
Are the days of cranking out a low-quality PFP project, jumping on a few Twitter spaces, paying for a few influencer endorsements and seeing your social followings soar into the hundreds of thousands over? God, we hope.
But that’s not how you build a business anyway, it’s how you build a bubble. And we all know what happens to bubbles.
The end of this bubble, however, doesn’t mark the end of its underlying technology. Remember the dot.com crash? It didn’t lead to the demise of online business. In fact, it was just the opposite. The number of websites grew from over 2000 in 1994 to over 2 million in 1998 to almost 2 billion today.
Sun Tzu is right — this is a tremendous opportunity.
While the world watched Bored Apes break six-figure transaction records and Jack Dorsey sell his first tweet, we’ve been focused on solving numerous pain points preventing greater adoption. Aspen’s minting and marketing toolkits deploy intuitive and accessible tools into the ecosystem, empowering and equipping entrepreneurs with the resources they need to make money in Web3.
Last quarter we introduced the first NFTs with integrated terms and conditions in collaboration with National Lampoon. Despite current market conditions, the collection sold out in 150 seconds, highlighting the very real demand to innovative Creators who have access or want to create IP that is not CC0.
This month, Aspen is celebrating another minting milestone: the first music album NFT with transferable on-chain terms and conditions and programmatically split royalties for collaborators on primary and secondary sales. And, it’s got AI-generated remixed content to boot.
More simply: another way for Creators to generate more revenue in web3.
Degen Dance Club — founded by multi-platinum musician Michael Antoniou — moves into its genesis mint shortly, introducing a revolutionary, music ownership opportunity designed to elevate music creation tools and resources using web3.
Michael began his career as a session guitarist in 2009 working with a number of breakthrough UK artists. In 2012, he was the guitarist and writer on Rihanna’s single ‘What Now’, featured on her Grammy Award winning album ‘Unapologetic’.
By 2016, he had started attracting major label and publishing interest, however, was unable to reach mutually agreeable terms. Unfazed by music industry politics, Michael decided it was best to continue forward independently; he launched his own record label ‘Deep Stack Records.’
Fast forward to today, Michael has partnered with Mintwerx, Delphos and Nameflick to launch the Magnetism EP. The 4,000 NFT collection is made up of 4 original songs available for public mint soon.
Each Magnetism mint is accompanied by a generative PFP along with the opportunity to mint a unique AI-generated remix of the original song. Minters will own the original or ‘masters’ to the one-of-a-kind remix for their own music creation purposes or to utilize commercially.
Following the Magnetism drop, holders will receive exclusive access to a second collection powered by Degen Dance Club’s generative music platform. Minters will again own exclusive rights to the masters of the songs they mint made possible through Aspen.
It gets better.
V2 Generative Collection Holders will also be able to mint the musical stems (or, audio file that breaks a track into individual mixes) that their NFT was made with. Stem NFTs will be individually tradable and holders will be granted a license (again, through Aspen’s terms capabilities) to use them within their own compositions and Degen Dance Club’s Creator Platform.
Their Creator Platform (coming soon) delivers easy-to-use music creation tools to their community, democratizing music production and eliminating the need to own expensive equipment. Holders will be able to use the platform to integrate the stems in their wallet into DDC’s AI-powered soundworld to generate their own compositions, and turn them into NFTs.
From four tracks to a fully-formed business model — all powered by Aspen.
Aspen provides a platform for Creators to design, build, and deliver experiences their customers, fans and communities love, regardless of their experience in crypto, NFTs or even ecommerce.
Whether you are an existing business, new startup, or have found yourself going it alone — Aspen’s no-code, minting and marketing toolkits transform previously complex processes into just a few simple steps to stand up your very own Web3-based business.