Run-DMC's McDaniels at SXSW: Blockchain can take the power back for artists

Cointelegraph’s elder reporter, Rachel Wolfson visited South by Southwest (SXSW) — a ten-day yearly technology, movie and euphony festival based successful Austin, Texas — to link with, and interview, a melting cookware of pioneers, luminaries, and enthusiasts from the crypto, blockchain and Web3 industries.

Wolfson spoke to Darryl McDaniels — known culturally arsenic DMC — founding subordinate of the infamous New York hip-hop trio Run-D.M.C, astir the group's illustrious discography, his views connected the capitalistic-induced flaws wrong the accepted euphony industry, arsenic good arsenic his overarching imaginativeness successful collaboration with blockchain task The Song That Owns Itself (STOI)) to beforehand decentralized integer ownership.

Run-D.M.C. achieved colossal occurrence crossed the 80's and 90's with aggregate acclaimed albums and tracks specified arsenic ‘It’s Like That’ and ‘Walk This Way’, establishing a bequest arsenic 1 of the astir influential hip-hop acts successful the past of the genre.

Prior to the interview, McDaniels freestyled a four-bar verse dedicated to Cointelegraph, and inspired by the crypto and blockchain space.

“On the microphone I get coin, I’m gonna’ bash large things similar Bitcoin. This close here’s the king of rock-thing, the coolest [mf’king] happening connected the blockchain.”

Great interrogation for @Cointelegraph with Darryl McDaniels from Run DMC astatine @Algorand during #SXSW2022 ✌️ pic.twitter.com/pweAF2uIvs

— Rachel Wolfson (@Rachelwolf00) March 15, 2022

In speech with McDaniels, it was evident that his passionateness for re-establishing creator sovereignty and originative ownership wrong the euphony industry, was fueled by his imaginativeness for the imaginable interaction of blockchain technology, a exemplary successful which decentralized mechanics could assistance the anticipation for enhanced creator autonomy.

McDaniels stated that “Run-D.M.C was ever an entity that brought radical together, changed things and made things better”, declaring his aspirations to physique blockchain solutions that foster this tradition.

“What I’m doing with Algorand and The STOI is going to assistance america manifest the solutions that’s needed to enactment the powerfulness backmost successful the creator’s hands, support the powerfulness successful the creations, and let everybody to acquisition everything that comes on with that.”

STOI is an innovative task seeking to utilize smart-contracts to make tokenomic governance models for philharmonic tracks. According to the imaginativeness illustrated successful their whitepaper, the task is seeking to “empower[ing] originative entrepreneurs and their fans by leveraging the tools of Web3.”

The project's inaugural nonfungible token (NFT) titled 'God Particle' sold connected the Foundation marketplace for 0.5ETH connected Nov 30. On Feb 14th, STOI transitioned from Ethereum to Algorand, citing greater speed, greater cost-efficiency, arsenic good arsenic little biology impact. The task has outlined roadmap plans to motorboat a governance-based DAO and summation nonfungible token (NFT) releases successful the near-future.

On Monday, it was announced that the 3rd variation of the STOI task volition tokenize McDaniels latest way 'Million Scars', a fig which helium performed unrecorded astatine the AlgoRanch pop-up lawsuit astatine the SXSW festival the aforesaid day.

Pictured: Rachel Wolfson, Darryl McDaniels, and George Howard - Arts Advisor to Algorand

Commenting connected the aboriginal of the euphony manufacture amid a emergence successful technological influence, McDaniels revealed that "It’s not conscionable astir moving retired the mediate man", earlier stating that:

"It’s making thing that is each inclusive wherever everybody’s progressive from instauration to its continuation… the opus owns itself due to the fact that the opus is the thing. The creator is wherever the powerfulness begins, and that’s wherever the powerfulness should stay.”