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The Interview: Forget "Selling Out"—Artists are "Selling In" to their Fans

When fans fund artists with NFTs, they become owners with a shared stake in that artist's success.

Leon Lamle is experimenting at the intersection between the blockchain and entertainment. He is the founder of the E1 DAO, which has its own hydrofoil boat racing team, and he works closely with entertainers using the blockchain tools like DAOs and NFTs to promote their work. He joined Roundtable at the BattleFin conference in Miami to discuss his ventures. In this segment, he discusses how musicians can use NFTs to build community and monetize their work to everyone's benefit. 

Lamle describes how the blockchain allows artists to give fans a stake in their success as they grow. 

"If you're an artist, you can now give fractional returns from success on platforms like YouTube, Spotify, and Title to each to your fans," he says. "As you blow up, they make more money on it. And it's a way to bring your fans with you because these people are investing in you."

To illustrate this new paradigm, he described the NFTs sold by E1 DAO-affliated artist Bobby Murda. 

"[He] sold a hundred NFTs prior to the drop and made more money in a minute than he would've made over a million streams of that same song," says Lamle. "Think about that. You can sell just to a hundred of your core fans and make more money than over a million streams. That opens an avenue. That's massive for creatives."

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"From the producer's side of things, you also wanna provide benefit to the community. You have things like community tokens, which can be free and to provide people, knowledge, access, discounts, you know, early stuff," he says. 

"Then you have things that can be purchased, like access to events, through ticketing, etcetera. And you have larger experiences, which are more time-based, where it requires you to go to like an event and interact with people, because that's what you really want. If you idolize these celebrities, it's not from not because you wanna be far away, [but] because you think they're cool and you want closer access. This gives you that additional access." 

Watch the full discussion below:

Roundtable Guests:

Leon Lamle, Founder, E1 Dao