Josef Poetzinger. © Private
Backstage PRO: Hi Josef, let’s start with the basics: what does Web 3.0 really mean?
Josef Potzinger: After Web 1.0 and 2.0, Web 3.0 stands for the idea of the next evolutionary step of the Internet. It promises to end or at least reduce the problems associated with Web 2.0, such as centralized data storage and the concentration of power in a few large Internet companies.
It is still unknown whether this will really succeed, or whether the promises of Web 3.0 will eventually become more of a marketing ploy, as we are still at the beginning of this development: the existing Web 2.0 sites are currently trying to use first tools. to make the transition in the first place.
“Web 3.0 is decentralized”
Backstage PRO: What techniques, trends, and tools are associated with Web 3.0?
Josef Potzinger: Web 3.0 is largely based on blockchain technology, which enables data to be stored in a decentralized, secure, transparent and irreversible manner. Non-fungible tokens (NFTs) are closely related to blockchain and play a vital role in enabling digital objects to be marketable and prove their authenticity.
→ Here you can find our detailed article on “NFTs”!
One of the current trends in the Web 3.0 area is of course the meta-verse, ie the idea of a virtual “universe”, where users can move freely and just like on the Internet interact with each other and create social contacts, e.g. could.
In addition, there is currently some hype surrounding DAOs, so-called Decentralized Autonomous Organizations. This is the name of communities and organizations that are organized using program code that is not centrally controlled and that gives their members co-determination or co-creation rights.
“NFTs can transform the streaming economy”
Backstage PRO: How do do-it-yourself artists can take advantage of the new technologies in Web 3.0. advantage?
Josef Potzinger: The most obvious benefit of Web 3.0 for artists is the so-called tokenization of our music via NFTs. An NFT is like a unique, digital copy of our music that can then be sold as a work of art. It allows us as artists to give our music or our digital content a fair or meaningful value in the broadest sense.
At one point, streaming services like Spotify simply added this value to our music, and we now realize that this system is not really working. Even with a large number of streams, this system does not generate enough revenue for us.
Artists run social media and other channels such as streaming platforms as a pure marketing tool in the hopes of reaching a large number of people. They should buy concert tickets, t-shirts or vinyl or CDs. This shows that our purely digital content, that is, our music or our visual concepts, is almost worthless in the streaming economy. NFTs can change that.
“It can be scary to get started”
Backstage PRO: How is a simple or “low-threshold” access to Web 3.0 capabilities possible?
Josef Potzinger: The essential first step to using Web 3.0 is to create a digital wallet. On the one hand, you can digitally sign money transactions; on the other hand, you need this on Web 3.0 platforms to be able to log in at all. I advise artists who want to create NFTs without the great prior knowledge, to create them on the so-called polygon blockchain via OpenSea, which is currently the largest NFT marketplace.
The advantage of this approach is that you do not need any cryptocurrencies here, just the so-called Metamask wallet. To start with NFTs, the first content is a song that has already been released, or a music video that you offer through a platform like OpenSea.
Backstage PRO: How high are the technical barriers in Web 3.0, especially for do-it-yourself artists?
Josef Potzinger: Unfortunately, the barriers are still relatively high, and the amount of information and new terms related to Web 3.0 can be quite daunting at first. It starts with deciding on a blockchain and a marketplace – Polygon blockchain and OpenSea are just one option among many.
“The offer gets bigger”
As mentioned above, most of these platforms require at least two things: cryptocurrencies and a wallet, which can be perceived as a browser extension, to manage them. Cryptocurrencies are available from regular crypto exchanges.
As already mentioned, OpenSea / Polygon can be used without cryptocurrencies to circumvent this process. Depending on the marketplace and blockchain you want to create your NFT on, other cryptocurrencies and sometimes other wallets may be needed. After some time, users eager to experiment will already have several different wallets to try on different blockchains.
Backstage PRO: What approach did you and your band whoiswelanski decide to take?
Josef Potzinger: The supply is getting bigger and bigger here and there are various reasons to choose a platform from it. A very important one here is the environmental issue, that is, the issue of the respective blockchain’s ecological footprint.
With whoiswelanski, for example, we offer our music in marketplaces based on Tezos and Polygon blockchains. We have had really good experiences with the Tezos marketplaces in particular and have already sold a couple of music NFTs. We do not use the usual route via the Ethereum blockchain, as this is both expensive and problematic from an environmental point of view.
“Popularity keeps rising”
Backstage PRO: How will current Web 3.0 trends evolve? Will they get more attention, or are you already seeing some fall back in popularity?
Josef Potzinger: I’ve been looking at the development of Web 3.0 for about a year and a half, and so far there’s only one direction – up. The entire Web 3.0 site is moving so fast that after just a few weeks of inactivity, you feel like you’ve missed out on a lot.
Of course, there are always small ups and downs.
For example, the Metaverse topic experienced a huge hype after the Facebook parent company Meta announced that it would create its own Metaverse. This has now felt as if it has fallen a bit, at least if you look at the prices of digital land.
Backstage PRO: So is the idea of Metaverse “out” again?
Josef Potzinger: I do not think. Already at whoiswelanski we notice that the meta-verse is quite popular: Our NFTs can be experienced here in our virtual gallery. There are regular exhibitions with different artists and live music – a concept that is well received by the audience.
Large companies are now investing huge sums in the implementation of a metaverse and Web 3.0 applications and I do not think this trend will decrease in the future but rather will increase.
In his keynote interview “As a do-it-yourself artist in Web 3.0”, Josef Pötzinger will present the techniques and trends in Web 3.0 in detail and explain how artists themselves can use the new developments. The session will take place on Thursday, May 19, 2022 at 10.15.