As the modern world continues to progress, drastic changes can be seen across various industries. A noticeable shift toward independently produced tracks has been observed in the music scene. Thanks to social and digital media, long gone are the days when giant labels have the final say on what can and cannot be released. As a result, musicians like Mike Vallejo have more control over their sound and are now able to express and share their creativity freely.
The talented individual is known for his unrivaled prowess in songwriting and producing. In fact, fans and music enthusiasts alike have praised his impeccable gift for words. But more than that, he has also demonstrated a remarkable business acumen through his impressive marketing and promotional strategies. As he insightfully shared, “More than being just a lyricist, I also took inspiration from producers like Dr. Dre, Ice Cube, and others who were really pulling the strings behind the scenes.”
What inspired the intuitive entrepreneur to hone his business skills is his belief that artists should be able to take control of the distribution, marketing, and overall engagement processes involved in developing a good brand. For Mike, merely having talent is not enough to thrive in the fiercely competitive music scene, emphasizing that one should also possess an entrepreneurial mindset. “I think of the music industry as similar to the fight game, labels put 90% of effort behind their thoroughbreds, and 10% around artist development,” he explained.
This time, the gifted hip-hop artist is taking things a notch higher by utilizing the cutting-edge technology of NFTs. Explaining his inspiration behind the idea, the innovative individual said, “Music platforms like Spotify, iTunes, and Apple Music require specific engagements that I developed and tested on my own. I realized in some cases, the models that were used by certain labels were outdated. Leading artists nowadays are integrating cryptocurrency, NFTs as an integral part of their overall marketing strategy.”
He went on to add, “An interesting strategy to leverage is offering NFTs in lieu of other checkout methods, giving fans the rights and license to the music to promote, leverage and reuse at their discretion. Through this methodical approach, artists can raise upfront liquidity which in the past was loaned out by the label, where artists would be incentivized to just work harder to earn more.”
According to the visionary’s expert judgment, having a decentralized platform in the music scene will effectively give back authority to artists and ultimately level the playing field. Moreover, he realizes that NFTs will help eradicate the discriminatory nature that giant music labels have against budding new artists.
Mike Vallejo is undoubtedly a breath of fresh air in the music scene who advocates for himself and his fellow musicians who are striving to find their place in the industry. Moving forward, the outstanding hip-hop artist plans to continue making captivating music. But, more importantly, he remains steadfast in his mission of building an industry that welcomes all kinds of artists and fosters creativity.
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