NFTs, DAO, DIY: Josef Pötzinger on artist possibilities in Web 3.0

Joseph Poetzinger. © Private

Josef Putzinger is half of the whoiswelanski pop duo and an independent NFT and Metaverse consultant. In an interview with Backstage PRO, Joseph gave us a glimpse into his appearance at Future Music Camp 2022, where he talked about the opportunities Web 3.0 presents to artists.

Backstage PRO: Hi Joseph, let’s start with the basics: What does Web 3.0 actually mean?

Joseph Potzinger: After Web 1.0 and 2.0, Web 3.0 symbolizes the idea of ​​the Internet’s next evolutionary stage. It promises to end, or at least reduce, problems associated with Web 2.0, such as centralized data storage and concentration of power in a few large Internet companies.

It remains to be seen if this will really work, or if the promises of Web 3.0 will eventually become a marketing ploy, because we are still at the beginning of this evolution: Existing 2.0 websites are currently trying to use the first tools to make the transition in the first place.

“Web 3.0 is decentralized”

Backstage PRO: What technologies, trends, and tools are associated with Web 3.0?

Joseph Potzinger: Web 3.0 is largely based on blockchain technology, which allows data to be stored in a decentralized, secure, transparent and irreversible manner. Non-fungible tokens (NFTs) are closely related to the blockchain and play a critical role in making digital items tradable and validated.

→ Here you can find our detailed article about “NFTs”!

Zu den aktuellen Trends im Web 3.0 Bereich zählt natürlich das Metaversum (engl. Metaverse), also die Idee eines virtuellen “Universums”, in dem Nutzerinnen und Nutzer sich frei bewegen können und, wiz auch rengie fenünteal Internet, ability.

In addition, there is currently a lot of hype around DAOs, the so-called decentralized autonomous organizations. This is the name of societies and organizations that are organized using program code that cannot be centrally controlled and that give their members the right to joint decision or the rights to co-create.

‘NFTs can transform the flow economy’

Backstage PRO: How do-it-yourself artists can benefit from the new technologies of Web 3.0. benefit?

Joseph Potzinger: The most obvious feature of Web 3.0 for artists is the so-called symbolism of our music via NFTs. NFT is like a unique digital copy of our music that can then be sold as artwork. It gives us as artists the opportunity to give our music or digital content a fair or meaningful value in the broadest sense.

At one point, streaming services like Spotify attributed this value to our music, and we now realize that this system doesn’t really work. Even with a large number of inflows, this system does not generate enough revenue for us.

Artists run social media and other channels like streaming platforms as a pure marketing tool in hopes of reaching a large number of people. They must buy concert tickets, T-shirts, vinyl or CDs. This shows that our purely digital content, that is, our music or our visual concepts, is almost worthless in the broadcast economy. NFTs can change that.

“Getting started can be hard.”

Backstage PRO: How is simple or “low-threshold” entry into the capabilities of Web 3.0 possible?

Joseph Potzinger: The basic first step to using Web 3.0 is to create a digital wallet. On the other hand, you can digitally sign financial transactions; On the other hand, you need this on Web 3.0 platforms to be able to log in at all. I advise artists who want to create an NFT without much prior knowledge to create it on the so-called polygonal blockchain via OpenSea, which is currently the largest market for NFT.

The advantage of this approach is that you do not need any cryptocurrencies here, only the so-called Metamask wallet. If you want to start with NFTs, the first content is an already released song or music video that you offer via a platform like OpenSea.

Backstage PRO: How high are the technical hurdles in Web 3.0, especially for DIY artists?

Joseph Potzinger: Unfortunately, the hurdles are still relatively high, and the wealth of new information and terminology related to Web 3.0 can be quite daunting at first. It starts with deciding on the blockchain and the market – Polygon blockchain and OpenSea are just one of many options.

“The show is getting bigger”

As mentioned above, most of these platforms require at least two things: cryptocurrencies and a wallet, which can be considered an extension of the browser, to manage them. Cryptocurrencies can be obtained from popular cryptocurrency exchange platforms.

As mentioned earlier, OpenSea/Polygon can be used without cryptocurrency to circumvent this process. Depending on the market and the blockchain you want to build your NFT on, other cryptocurrencies and sometimes other wallets may be necessary. After a certain period of time, users who are keen to experiment will already have several different wallets to try different blockchains.

Backstage PRO: What approach have you and his Whoiswelanski band decided to take?

Joseph Potzinger: The show is getting bigger and bigger here and there are different reasons to choose a platform from it. One of the very important issues here is the environmental issue, i.e. the issue of the ecological footprint of the blockchain in question.

With whoiswelanski, for example, we bring our music to market based on the Tezos and Polygon block chains. We’ve had very good experiences with Tezos Markets in particular and have already sold a few music NFTs. We are not using the usual route via the Ethereum blockchain, as this is costly and problematic from an environmental point of view.

‘Popularity keeps growing’

Backstage PRO: How will current Web 3.0 trends evolve? Will they get more attention, or will you actually notice a dip in popularity?

Joseph Potzinger: I’ve been researching Web 3.0 development for about a year and a half and so far there’s only one direction – up. The entire Web 3.0 space moves so fast that after a few weeks of inactivity, you feel like you’ve missed out on a lot.
Of course, there are always slight fluctuations.

For example, the Metaverse thread saw quite a stir after Facebook’s parent company Meta announced that it would be creating its own Metaverse. Now that looks like it’s gone down a bit, at least if you look at digital land prices.

Backstage PRO: So is the idea of ​​the Metaverse “coming out” again?

Joseph Potzinger: I don “t think so. Already with whoiswelanski, we notice that the metaverse is very popular: our NFTs can be tried here in our virtual gallery. There are regular exhibitions with different artists and live music – a concept that is well received by the public.

Big companies are now investing huge sums in implementing metaverse and Web 3.0 applications and I don’t think this trend will decrease in the future, it will only increase.

In his main interview “As a DIY Artist in Web 3.0” Josef Pötzinger will present the techniques and trends in Web 3.0 in detail and explain how artists can use the new developments for themselves. The session will take place on Thursday, May 19, 2022 at 10:15 AM.

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