Living Opera CEO and COO Soula and Christos sat down with Athens-based artist turned journalist Savannah Fortis to talk about Living Opera's exciting new approach to arts philanthropy.
Read the full story here.
Main points
- The music industry has been a major adopter of Web3 integration
- Genres like pop, EDM and hip hop have represented nonfungible tokens (NFTs) in the music industry so far
- Living Opera is paving the way for classical music to enter the Web3 space after the Dallas Symphony in 2021
Facts and figures
- The National Endowment for the Arts found that the percentage of adults in the United States who attend at least one opera a year dropped from an already low 3.2% in 2002 to 2.2% in 2017.
- The Metropolitan Opera, reported that in July 2021 it was down $25 million in revenue from the previous year.
Innovation
Living Opera is pioneering a new system of governance for how classical music does grant making with the formation of the Living Arts DAO (decentralized autonomous organization), which will allow greater transparency with how funds are distributed to artists. The DAO and grants program will be funded by Living Opera's first major digital art collection, Magic Mozart.
This is a big step forward in creating a new ecosystem for how artists are funded in the creator economy, and we are excited to pave the way for the next generation of artists worldwide.
