![]() ![]() Martha Bennett, an analyst at the consulting firm Forrester, said companies and artists already trying to sell music directly to fans through blockchain-based systems have had limited success. While companies still could develop related businesses, consumers would have more control over what they view and own online, Dorsey said at a conference last year. The provenance of autographs and memorabilia could be tracked by associated NFT, Litan said, potentially making them even more valuable and significant to artists' fans.ĭorsey has supported so-called decentralization technologies such as blockchain because they enable people to store data and process transactions without relying on big tech companies and other service providers that profit off being a gatekeeper. "No one's going to just go get a cryptocurrency wallet if there's nothing to buy."Īmong the obscure blockchain systems that Square and Tidal could help popularize are digital files known as non-fungible tokens (NFT) that serve as digital signatures to certify who owns photos, videos and other online media. "You need the applications to drive the new economy," Litan said. Such new offerings could take advantage of emerging technologies such as blockchain and cryptocurrencies that Dorsey views highly, said Avivah Litan, a technology analyst at consulting company Gartner. ![]() Square and Tidal would work on new listening experiences "to bring fans closer together," simple integrations for merchandise sales and financial tools for artists, he added in a Twitter post. ![]()
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