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From Silk Road to NFTs: Why Musicians and Artists See Web3 as the Endgame

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Scott Hansen, also known as Tycho, became interested in crypto during the rise of the Silk Road. The Silk Road was an underground marketplace and at the time, according to Tycho, the “coolest thing on earth.” A few years later, he launches his own Tycho Open Source Community using Polygon NFTs.

Started in 2011

Tycho bought his first hardware wallet in 2011, but did not put Bitcoin on it. In a interview with Decrypt, the artist shares how he came into contact with crypto and Web3. In 2016, Tycho first invested in Ethereum with the idea of ​​never selling. “We need to buy this thing called Ethereum,” fellow musician Jakub Alexander told him during a tour. “Bitcoin is old school, but Ethereum is cool,” Tycho recalled Alexander’s words.

After that, he forgot about his crypto for several years and continued to produce music and visual arts. Hansen designed all the graphics for his albums and his recognizable melodic electronic sound. That performance has earned him two Grammy nominations to date. “Our pact was that we would never sell to see what would happen,” Hansen says of the decision to invest in Ethereum in 2016.

Web3 is the ‘end game’

Hansen sees the Web3 as the ultimate revolution for the creative industry. While artists in the current ecosystem have ceded all control to intermediaries like Spotify, Web3 has the potential to put them back in control of their own creations. Hansen’s idea is to sell his NFTs as ‘access tokens’, giving token holders access to listening parties and live streams.

“I think this is the ‘endgame’, to create a community in the new Web3,” said an optimistic Hansen. Hansen has no concrete plans to release his music in the form of NFTs at the moment. According to the artist, it’s only a matter of time before Web3 becomes the norm for artists.

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