Protocol Labs, the open-source research and development lab behind Filecoin and IPFS continues to build and elevate the web 3.0 space. With the addition of Web3.Storage, a tool to quickly store and retrieve files on IPFS and Filecoin, they’ve now built two open-source solutions for users, making file storage more accessible and easier to manage.
The most exciting part? They partnered with Pinata to help distribute content and make their storage decentralized across the IPFS space.
Why do the creators of IPFS need to use an outside source? Perhaps they don’t, but it’s an encouraging nod to the values held deeply in the web 3.0 community. By using an outside tool such as Pinata to power their platforms, Protocol Labs gives an example to larger companies of the world that a decentralized internet is possible when there’s collaboration of the best tools available.
“Protocol labs has been instrumental in advancing the capabilities of the web 3 space.”
- Matt Ober, CTO at Pinata
With the exploding growth recently experienced in the NFT space, IPFS storage has become a popular and reliable source for file storage amongst creators and builders. As the internet continues to evolve with web 3.0, brands and companies will be challenged to embrace some of these new technologies. The brands that do it sooner, will adapt and succeed much quicker.
paragraph — The first thing the music industry needs is more exposure. For artists, listeners and yeah, the labels. Even with the use cases mentioned above, the majority of the music industry still sees NFTs as a novelty rather than a legitimate way to run a business. We see a future where the experience is built and monetized on the blockchain, with labels taking part of the experience, as well.
Second, there needs to be a big jump in user experience. Listeners know what to expect with Spotify and Apple Music: a smooth, intuitive experience that lets them listen to Lil Nas X with just a few clicks. Web3 platforms aren’t quite there. Music NFTs and related premium content require extra steps that most people don’t yet have an appetite for.
paragraph — Musician Daniel Allan spent months building a relationship with the NFT community and raised 50 ETH to fund his new album, Overstimulated. Companies like Audius and artists like Vérité's, who raised $90,000 in an NFT launch, are at the forefront of exploring new ways to get paid. Avenged Sevenfold launched an NFT collection called "Deathbats Club" with 10,000 items that grants holders access to benefits such as meet and greets at shows, lifetime free tickets, limited edition merchandise, and more.
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QUOTE — Everyone is obsessed with making money and seeking alpha, which does a disservice to what [NFTs] can actually do. We have been instructing many bands that NFTs are a ticket for access to an exclusive club.” - M. Shadows, Avenged Sevenfold’s lead singer.