3LAU talks about the first music festival powered by blockchain, Our Music Festival [Interview]

3LAU talks about the first music festival powered by blockchain, Our Music Festival [Interview]Our Music Festival 3lau

The first music festival is coming up. On October 20, Our Music Festival hosted by 3LAU will take place in San Francisco’s Civic Center Plaza, featuring Zedd as a headlining act. Click on here to buy tickets and witness the emerging technology in action among performances by Big Sean, Zedd, the host herself, Matt & Kim, and Charlotte Lawrence.

DA talked with Justin Blau about exactly what festival-goers could expect in the festival from a tech standpoint. The label manager also discussed ambitions in order to solve some of the sector ’ of executing blockchain to events later on s inefficiencies. The OMF app is going to be the festival application that runs on an open-source blockchain.

How did you start developing the blockchain music festival?

Being for 8-9 decades, we experience a lot of the inefficiencies in this company that is relatively inefficient. As I opened my eyes to the tech that blockchain can start, I really thought this could help festivals.

What got you started in blockchain?

I started learning about blockchain when remaining with all the Winklevoss twins in LA around 2012. They had been busy building their trade, and heard regarding bitcoin there. When the economy was going mad, I needed a nosedive into learning about the tech.

How can Our Music Festival differ than a music festival that is regular?

You re going to be able to earn rewards in the festival on the app for performing actions. With those benefits, festival-goers can purchase merch. This is the only execution of this technology in year one. Later on, we want to enlarge the tech so enthusiasts can select the lineup and receive fractional ownership.

3LAU talks about the first music festival powered by blockchain, Our Music Festival [Interview]3LAU E1539623193684

Does the app work?

In the first year, everybody will get OMF tokens at no cost. Call it a rebate for the ticket purchase. Festival-goers download the app, claim their QR code that triggers the wallet, and OMF tokens have been earned by performing tasks in the festival. They could swap these tokens .

What data-points are you really looking at in year one?

Festival-goers who buy tickets will receive three tokens and we expect they go to the tent and are amazed at how quickly and easy the process is. We’re providing individuals tokens from QR codes printed on pursuits.

What inefficiencies in the music industry are you wanting to solve?

There are 3 main things we want to address. The first is liquidity. Fans wait until the last minute to buy festival tickets. This is a massive problem because it simplifies occasion curators from creating festivals the very best they could since they don ‘t have enough cash, so that they cut on prices.

Consumers wait until the last moment to buy tickets since there’s s not a way. They think that they might go down in cost, but tickets typically go up in cost. Fans in general don’t have sufficient liquidity for tickets, so we want to get them involved so as to earn money.

The next aspect we want to solve are advertising inefficiencies. Friends tell their friends about festivals, but they don’t receive anything in return from a referral.  They simply get their buddy ’s company. This creates value, and market the event in a word of mouth watering way that ’ s never happened before and we want to provide that value back to the referrer.

The problem is this information difficulty that is giant. Artists and lovers are creating all this information, plus they all don’t own any of it. Within our platform, artists and lovers will be able to access the info from users that opt in. This implies artists have a direct interaction with their supporters and also may target.

What is the perfect way?

The aspect of things can help give those who engage say. Blockchain supports participation. A hypothetical: Let’s say you would like to go to EDC, although you’re not ready to get a full ticket yet, you’ll invest $10 now to influence that performs and receive a $20 credit on their ticket afterwards as you gave that the festival curators valuable data. Blockchain additionally supports participation to keep bots and spam out.

In order to engage individuals, we will need to make blockchain clear and simple. After they know it, we expect they’ll want to purchase more of it.

You re the trendsetter. Besides OMF, you started the first not-for-profit tag, BLOOM. What caused you to go down this path?

I ve completed a great deal of non-profit work before I was an artist.  I think it s important to return to this neighborhood, particularly since I get to earn a living doing what I love. I m creating OMF to return to the fans. Pencils of Promise is the company my tag, BLUME devotes 100 percent of its profits to. It’s super organization. I know where the money goes. We’ve assembled seven colleges in Guatemala together.

Buy Tickets for every event – Sports, Concerts, Festivals and more buytickets.com