Co-hosts Glycel and Aman, the dynamic duo behind our Hatched Podcast, recently had the honor of hosting none other than Jonathan Wong, a true artist extraordinaire and the co-founder and CEO of Octagon Meditainment. Get ready for some mind-blowing insights as Jonathan spills the beans on his personal journey from investment banking to the realm of music and entertainment — and becoming one of Hong Kong’s biggest pop stars!
During their chat, they dove deep into the struggles faced by artists in the industry and the game-changing potential of blockchain and Web3 technologies.
Saying No to Unfair Compensation
Jonathan, with his wealth of experience in the music biz, knows firsthand the challenges that artists face. We’re talking about artists not “really” owning their work and struggling to receive fair compensation for their creative genius. It’s an uphill battle, with institutions and gatekeepers exploiting their talent and leaving them high and dry. Jonathan’s vision for change led him to explore how blockchain technology could disrupt the traditional entertainment industry.
You see, the COVID-19 pandemic hit hard, compelling Jonathan to think outside the box and find new ways to perform and collaborate with artists from all over the world. And that’s when it hit him. He envisioned a collective of artists coming together, sharing a digital space to create, all while ensuring complete transparency and fair compensation. And guess what? Blockchain came to mind, offering smart contracts that are automatic and immutable, putting an end to ownership disputes and royalty headaches. Imagine artists touring the globe without even leaving their couch and rewarding their global collaborators with just a click. It’s pure genius!
Beyond Just Solving Compensation Issues
Blockchain technology offers significant advantages beyond just solving the issue of fair compensation. By using blockchain and Web3 platforms, artists can bypass traditional gatekeepers and directly connect with their audience. They finally take the reins, owning their creative work, calling the shots on distribution and licensing. And let’s not forget about the magic of transparency and decentralization. They foster trust and allow artists to forge real, authentic relationships with their fans. It’s a whole new level of engagement.
Jonathan made it crystal clear that artists need to jump on the blockchain and Web3 train ASAP. It’s their ticket to freedom, breaking free from the exploitative chains of the traditional entertainment industry. By leveraging blockchain, artists can create a more equitable and sustainable ecosystem where their creative contributions are properly recognized and rewarded. This technology enables artists to navigate the complex landscape of rights management, royalty distribution, and collaboration, empowering them to thrive independently.
Final Words
Jonathan Wong’s wisdom shines a light on the challenges faced by artists in the entertainment business and the transformative potential of blockchain technology. By embracing blockchain and Web3 platforms, artists can reclaim ownership of their work, establish direct connections with their audience, and ensure fair compensation.
As more artists embrace this revolutionary tech and join the movement towards decentralization, the entire industry is set to undergo a seismic shift that benefits both artists and their fans. Get ready for a whole new era of artistry. It’s going to be epic.
