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In an interview with Business Insider, rapper Lupe Fiasco compared cryptocurrencies to speculative commodities like "baseball cards," while expounding on the ways blockchain technologies could "revolutionize" the music industry.
Fiasco noted how artists could use blockchain applications to skirt the low payouts that streaming companies like Spotify have drawn criticism for.
Artists - Gramatik - Imogen - Heap - Possibilities
He joins artists like Gramatik and Imogen Heap in exploring the possibilities of blockchain as a source of income for artists.
Rapper Lupe Fiasco has had a notable history of contention with the corporate structures of the record industry. But like a growing number of musicians, he sees blockchain technology as a form that could revolutionize the music industry by helping artists profit off their work to a greater degree.
Interview - Business - Insider - Week - Participation
In an interview with Business Insider this week, following his participation in a technology summit with Autodesk, we asked Fiasco if he had any thoughts on the subject of cryptocurrency.
While he referred to cryptocurrencies like bitcoin as "any other kind of speculative commodity" — comparing them to collector's items like "baseball cards" and vintage troll dolls that one could accumulate money through over time — Fiasco zeroed in on blockchain technologies as an application that could specifically benefit artists.
People - Way - Value - Things - Matter
"People are going to find a way to speculate and value things no matter what it is. I mean, whether it was troll kids, or flowers, or baseball cards, or it's digital currency, you're always going to have that regardless. And I think there's going to be a time to win in that and then a time to lose in that," Fiasco said of cryptocurrency. "But I think the difference between those things, the cryptocurrency, specifically bitcoin now, is that the technology and the implications and applications for the blockchain side of it...
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