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181 sats \ 5 replies \ @kr 5 Aug 2022 \ on: Hi! I'm Michael Rhee, founder of music streaming platform Wavlake. AMA bitcoin
what has been the biggest challenge in building up a library of v4v content on wavlake?
how do you plan to overcome it?
The biggest challenge so far stems from the way I originally set up Wavlake, which was to enable artists running Lightning nodes to register that node with the site and receive Lightning payments directly to their node from fans. I quickly realized this created a pretty high barrier to entry for lots of people who were interested in using a service like this to share their music but had little to no experience in running a server or managing channels. This is why moving forward we are focused on making the process of onboarding content and receiving payments as simple as possible with some out-of-the-box tooling. I think this will allow for not only hardcore Bitcoiner artists to get started quickly but also those who are less familiar with Bitcoin.
Also, the alpha version of Wavlake stored all the music in a site-specific content management system, not an open standard like most podcasts are distributed today. That's another big change -- implementing music on Podcasting 2.0 instead of a closed system. I think this approach will be what brings about massive adoption and innovation in the digital music space.
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do you see any challenges with onboarding larger artists who may have label agreements prohibiting their content from being shared on other platforms?
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Most artists distribute their music just about everywhere so I don't see that particular issue being the main challenge. I think the issue for larger, more established artists is that they are doing just fine in the system that exists today and probably see no need or benefit from using an alternative.
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enable artists running Lightning nodes to register that node with the site and receive Lightning payments directly to their node from fans
Did you consider that you originally had the correct model, but your customers should have been record labels instead of individual artists?
It seems to me that there is still a role for record labels to play, and much like Galoy and “community custody”, that could be it.
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Yes, labels and syndicates have always been a consideration and continue to be. I think the best solution is one that gives both individuals and teams the tools they need to distribute content and earn payments easily.
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