Crypto can create a deeper connection between artists and fans

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The opinions expressed are solely those of the author and do not reflect the views of the editors or editors of Rolling Stone.

The phrase “deeper connection with fans” is probably one of the most overused phrases on almost any creator or artist platform. The notion is well intentioned, but above all it is an empty promise that is rooted in transactional commerce rather than real connection or intimacy.

Is there a real connection between the fans and the artists at the moment?

Before the widespread adoption of social media platforms, fans were often kept at bay from megastars like Michael Jackson and even Beyoncé – encouraging an almost idolized cult that even promoted royal epithets like “King” and “Queen.” Looking at the landscape today, native social media artists like Harry Styles, Drake, and Lady Gaga have embraced the use of these platforms to change the paradigm. This new generation of artists understand the importance of creating a symbiotic relationship with their fans, harnessing the human desire for bonding and connection.

This notion that artists want to be on par with their fans is paving the way for massive change in the industry. While social media platforms seem to be a great equalizer, in reality they benefit from the interaction, arguably at the expense of the artist. However, as new platforms and technologies emerge, this strained relationship between creator and social media platform becomes less and less necessary.

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Cryptocurrency opens up an opportunity for community participation.

One crucial element is missing in the quest for a deeper fan connection: direct fan participation. Crypto offers fans the chance to join an artist in building their digital economy and, for the first time, potentially winning together.

These innovative communities and new technologies and management systems currently exist in the form of social tokens. Creators can use this technology to create their personal cryptocurrency, a token to demonstrate their fandom. These tokens can be used as a method of purchasing perks from artists, such as exclusive content, NFTs, personal experiences, and even one-on-one conversations with fans. This two-way exchange allows fans and the artist to actively participate in the growth and success of their community and economy, building on the previously established relationship on social media without intrusion or third-party surveillance.

Portugal. The Man, for example, became the first Grammy Award-winning rock band to launch their PTM Coin cryptocurrency community token. (Full disclosure: PTM is a rally project.) Thanks to the token, fans of the group are now co-owners of the group and earn rewards for their active participation in the community. Portugal. The man saw social tokens as a way to make it easier to engage with their fans in the midst of a pandemic when typical channels like concerts or backstage dating were not an option.

Other artists are testing the waters of crypto; Post Malone started an NFT-fueled celebrity beer pong league, while Kings of Leon’s album was the first released as NFT. The album token unlocks future concert tickets and limited edition vinyl releases. Other artists dive head first; Artist EDM RAC has launched his own community cryptocurrency that unlocks access to a private Discord chat and future product drops.

Crypto could facilitate the future of the fan-artist connection.

We are just starting to see how cryptocurrencies can be used by artists and creators. In the next few years, I truly believe that we will see this technology become a central part of artist marketing strategy as a fan engagement tool and an alternative source of income. We’ll also likely see artists take advantage of emerging blockchain-backed technologies, such as NFTs, to secure ticketing offerings, digital content, and merchandise.

These artists have the opportunity to build entire empires on top of the blockchain, with album releases, music videos, merchandise and more, all powered by their community’s social token. The new creator economy is upon us and I think this will only deepen the fan-artist connection, ushering in a new era where artists and fans create their economy together.

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