How VINCI helps artists and culture creators with Web3

By giving artists proper engagement and monetization tools via Web3 solutions, we empower them to seek the full value of their work

The vast majority of artists and creators today don’t earn their fair share from the culture industry. It takes on average over half a year for content creators to earn their first dollar. In regards to music, only 0.5% of Spotify artists made over $10,000 in 2021; looking at video streaming, 96.5% of YouTube content creators don’t make enough revenue to be over the poverty line.

These problematic industry practices prevent artists and creators from properly monetizing their creative projects. Additionally, these culture creators miss out on ways to fully engage with their fans, and gain the insights necessary to keep creating content that resonates with them.

All this is happening amidst event industry titans like Ticketmaster making record profits while coming under scrutiny for shady, monopolistic practices. Even top artists like Taylor Swift (who has lost millions of dollars to ticket scalping and counterfeiting) aren’t safe from these unfair and often exploitative industry norms.

If even top artists (already an unreachable standard for most creators) are subject to such industry practices, what can other artists do to thrive?

How VINCI solves today’s culture industry problems

VINCI understands these problems and applies Web3 and blockchain technology to bring fair and transparent solutions to help artists and culture creators earn their fair share from the creative industry.

The foundational services that shaped VINCI’s vision were focused on ticketing and digital marketplace solutions for artists and culture creators.

Through Web3-based ticketing, artists and event organizers can choose monetization settings from their tickets, as well as buyer and attendee data received from ticket transitions. Perhaps most importantly, they can control secondary markets through their tickets, avoiding counterfeiting and scalping practices.

By developing comprehensive marketplace solutions, VINCI gives artists better methods of engagement (hand-in-hand with our ticketing’s buyer data tools) via digital tokens that unlock exclusive airdrops and perks available to fans. This form of community engagement helps artists communicate to fans directly, while also allowing them to reciprocate with an organic and loyal following.

The 3 Ways VINCI helps artists with Web3

The VINCI team has recently refined the aforementioned ticketing-and-marketplace product strategy into a 3-solutions assortment of services:

VINCI Connect

VINCI Store

VINCI Insights

These 3 main product categories are tailored around the specific needs of artists and culture creators today. VINCI founding member and Head of Tokenomics, Nichlaes Engelbreth, together with our product team, detailed the benefits that Web3 and the blockchain provide for artists via VINCI’s 3 main product categories.

Nichlaes Engelbreth (left) with VINCI team members at Amsterdam Dance Event.

VINCI Connect

VINCI Connect was developed as a set of engagement tools that let creators and artists establish a more direct and mutually impactful bond with their fans.

This may sound a bit abstract. But imagine your company is using social interfacing tools–ads, marketing, etc–VINCI offers an app that users can download and use to access the store, artist profiles, all available on the artist’s side. This gives artists the necessary management tools to connect with fans (maybe chat with them, engage in AMAs, etc). That’s VINCI Connect: the engagement tool that lets artists explore these new ways to speak to their audience.

VINCI Connect offers a series of Web3-based agent tools through which artists can set the level of engagement and fans can respond in kind. The openness and accessibility of the blockchain can assure both creators and their fans that this engagement is organic, which gets around the obscured engagement practices of today’s culture industry.

VINCI Store

In addition to letting artists connect further with their fans, VINCI helps artists monetize their creative projects. As Nichlaes puts it:

“People won’t buy anything from you if they haven’t talked to you, right? So after successfully engaging them, you can monetize through the VINCI Store, which enables artists and creators to sell NFTs, merchandise, royalties, exclusive access, tickets… artists get more control, more earnings, and can increase lifetime engagement value from their communities. You can teach fans that it pays to be loyal, based on the reward that you as an artist want to give them.”

By using VINCI’s engagement (VINCI Connect) and monetization (VINCI Store) tools, artists can reward their communities, and open up additional ways to earn from the connection to their audience. At the same time, audiences get to experience new and exclusive content while supporting their favorite artists.

VINCI Insight

Finally, after earning through engagement, VINCI helps artists assess user and attendee data while recommending creatives with solutions on how to grow their communities.

During team discussions, our team placed detailed emphasis on the importance of giving artists relevant insights regarding their audience’s response to their creative projects.

For example, if an artist has fans on Instagram, they will usually follow that artist. The artist might have hundreds of thousands, or even millions of followers. But each follower has a different history with the artist’s project. One ‘follow’ or ‘like’ by itself does not say much about the entire degree of interaction. If an artist’s following is tracked on Instagram, what happens if that given social media company shuts down that account? What if they raise the artist’s advertisement rates? Then that artist is in trouble. Right now, creators do not have control either over their creative output or their audiences.

As Nichlaes explains, “Web3 helps artists by letting them build their audiences and communities on the blockchain in a more granulated fashion. For example, an artist wants to have a venue event. What if all the attendees could mint a proof-of-attendance token on the spot? And those that did could have an airdrop sent to them, just to build a connection. Now that NFT is public data, the artist now knows that these wallets were there at their event. Next event, the same wallets from the same fans were there again. The artist can choose to reward that loyalty. One ‘follow’ says nothing about loyalty, but three consecutive proof-of-attendance NFTs says that this fan was willing to travel the world to see you. That’s an insight.”

VINCI’s Web3 solutions unlock artists’ ability to engage and earn

By helping creators establish their community on the blockchain, in a permanent and precise way, VINCI provides artists the tools that help them gain the full value of their creativity.

Unlike monopolizing industry titans today, VINCI even allows artists to take that Web3-based data and monetization structure and transfer it to other services: That community will always be theirs, that engagement and earning model will always be theirs, those insights will always be theirs. Meanwhile, fans will always have that community and connection to the artist.