The music industry has long been a fertile ground for innovation, implementing new technologies not only to create music but also to transform the way listeners engage with it. In recent years, the industry’s legacy of innovation has continued, but as a testing ground for Web3 technologies. From blockchain-based royalties to non-fungible tokens (NFTs), startups have raced to redefine how fans connect with artists they love and how artists maximize their platforms.
Web3 tools being integrated into the music-making and sharing process is still a bright future for many budding artists. Yet, as digital ecosystems evolve, one timeless truth remains: the magic of live music. According to Dave Stewart, a musician known for his role in the duo The Eurythmics and co-founder of SongBits, live events could be the linchpin that bridges the gap between Web3 innovation and meaningful fan engagement.
For Web3 music platforms like SongBits, live events aren’t just an added feature — they’re a critical component of their growth strategy. “At SongBits, we don’t see ourselves as just a digital platform. The technology we use is simply a tool, a means to an end. What truly matters is the music, the artists who create it, and the fans who connect with it,” Stewart told Cointelegraph.
SongBits is about to hold its first Christmas charity event in London alongside the charity Big Issue, in support of the organisation’s work to end poverty and homelessness in the United Kingdom. The event will feature performances from artists who are releasing music via the platform. Stewart explained that in-person events like this bring an essential authenticity to what platforms like SongBits are building in the digital space: “If you’re genuinely committed to innovating and bettering the creative arts, you can’t solely exist online.
Showing up in the physical world is vital for building real connections and fostering a deeper appreciation for music.”
Stewart also emphasized the unique role of live events in putting artists front and center, saying that “live events aren’t just a growth strategy — they’re a chance to put artists front and center, where they belong.”
Web3, charity, community SongBits has also explored how Web3 can contribute to meaningful causes.
According to Stewart, 100% of all sales and donations go to a charitable organization: “Web3 allows us to ensure complete transparency in how these funds are handled, giving fans and contributors peace of mind that their support is making a real difference.”
Related: AI can compose good music, but humanity still holds the creative baton
Beyond transaction transparency, SongBits — built using Web3 tools — enables unique forms of fan engagement, such as purchasing fractional ownership of music, with proceeds benefiting charity.
“By contributing, they become part of a shared story — not only are they helping a cause, but they’re also deepening their connection to the music they love,” Stewart said. A hybrid music industry future
Stewart has been active in the mainstream music industry for decades as a multi-Grammy Award winner, Rock n Roll Hall of Fame artist and producer.
He’s one of many major artists to see potential in the Web3 music crossover space. Stewart is optimistic about the future role of Web3 in music. “The industry has always evolved alongside technology, whether it was the shift from vinyl to streaming or the rise of social media as a tool for artist discovery,” he said, adding: “Web3 represents the next frontier, offering solutions to long-standing challenges like transparency, fair compensation, and deeper fan engagement.”
Rather than replacing traditional models, Stewart envisions a hybrid future where Web3 and conventional music industry practices coexist.
“The future of music will likely be a hybrid of the traditional and the innovative, with Web3 platforms forming a critical part of the ecosystem. The key will be building tools and systems that complement the existing industry while offering unique opportunities for artists and fans,” he added.
Source