On February 16, 2023, we held an AMA with Everyone Eats Entertainment. This AMA session revolved around the topic of the Everyone Eats Entertainment project. We collected some good questions from the community during the AMA Everyone Eats Entertainment also gave full answers about their project to the community. Let’s read this article to understand the content of the AMA.
Introduction
Nearity: Hi guys, I’m Landon, a Community Builder of Nearity. We update the latest information on Near about the ecosystem, analyze data, analyze projects, provide instructional content, and support users on how to use and integrate into the ecosystem. Welcome to a wonderful AMA with Everyone Eats Entertainment
In this AMA, there will be the participation of Everyone Eats Entertainment – a Blockchain-based record label and marketplace project, and Blake Harden multi-platinum and Diamond Certified Audio Engineer
Can Blake Harden introduce the Everyone Eats Entertainment project and yourself a little bit?
Blake: At Everyone Eats, our goal is to empower the artists, engage the fans, and bring the utility of smart contract use to the forefront by introducing it to the masses. We have developed a way for web3 based music industry to exist in tandem with web2 and the traditional music industry. Our marketplace is designed to work with other labels, major and indy, as well as, most importantly, unsigned artists. It is a place where all other advertising and social media can be directed, and an entire project’s marketing campaign can be executed from.
We believe that we can change the traditional, unfair, nature of the music industry if we provide the necessary tools for artists to succeed. All the while utilizing one of the most useful new technologies available. A little about me: I’m an Audio Engineer and Producer, with about 18 years of experience in both live, and studio work.
Answer the question from the community
Question 1 from Tuan Anh
“What is Everyone Eats Entertainment and what is the problem that it gonna solve?”
Blake: Everyone Eats and Music Feast were really born out of necessity.
The primary purpose of Music Feast:
To provide artists a place to build a strong community with their fans, drop exclusive physical merchandise and collectibles (redeemed and authenticated via NFT), and immediate payment methods; in an industry that is notorious for extremely delaying payment, or outright nonpayment. In doing so, we feel that the only way to break into the mainstream market, and become a household name, is to A) show the world that blockchain technology, and NFTs, are much more than just volatile coins and digital art pieces; and B) simplify the purchase, resale, and storage process.
Each NFT has tangible and necessary utility associated with it.
Either a ticket, a key, or a redeemed certificate of authenticity for a physical piece of merchandise, song royalty, service, or life experience. We want the crypto aspect of our marketplace to play a primary, yet relatively silent role. In that, we have addressed many of the concerns or “turn-offs” that the non-crypto population might have about the technology and minimizing the learning curve. A formal crypto wallet isn’t required to connect to our site, we can have one automatically verified and populated by authenticating through email, Facebook, chrome, and some others I believe. Cryptocurrency purchase prior to NFT purchase isn’t required. Our platform accepts debit, does the crypto conversions automatically, and pays immediately in stable coin.
So, to answer the question, we are going to make it very easy for artists to engage ALL of their monetarily invested fans directly, without the noise of social media sites, and give them a unique home base to support their art form. We are giving fans the opportunity to be able to access their favorite artists more directly, join their community, and purchase authenticated merchandise and ticketing via NFT’s … all through blockchain technology. The days of needing to understand the blockchain in order to participate in its function are over. We are bringing the masses to blockchain use, and most of them won’t know or care … just as long as the shirt comes in the mail, and the royalty split says their name on it … basically just as long as it works.
Question 2 from Arshavin
“One of the factors that make this platform attractive to many users is its special features. So, what are you amazing features and advantages to attract users and investors?”
Justin: We designed this to offer a great customer experience. Our platform uses gates to unlock super-exclusive video content and merchandise. We have created a way to sell physical merch that an NFT essentially represents. The orders don’t get processed unless that NFT is burned off of the chain, which allows for NFT investors to hold them until the value increases due to community growth and limited editions floating around the ecosystem, and resell them to people knowing that if they decide to claim the actual physical product, it will be in mint condition. On top of this, we have collaborated with a number of different developers in the ecosystem to simplify the onboarding process to capture a non-crypto savvy market.
Question 3 from Lee Di
“In a world where ownership and monetization of digital assets are increasingly important, how will the label leverage web3 technology to create new revenue streams for artists? ”
Justin: What makes our platform unique is the fact that we sell the concept to artists by not limiting their reach to the traditional music market. These NFTs support traditional releases by acting as somewhat of a marketing campaign. We give the artists what they are using to, on top of building out their own individual communities where fans and artists have direct access to each other. This creates a place for instantaneous feedback and direction. We allow artists to earn royalties off of secondary market sales for physical merch which can’t be done in traditional retail, as well as the instantaneous revenue based on smart contract split sheets.
Question 4 from Crypto Boy
“NFT space is flooded with low quality NFTs, making it hard for collectors, users to find the art they really want. How will you be able to give users high quality NFTs? What will it be consider as high quality on your marketplace and how will you determine what NFTs are worth? ”
Blake: I think a high-quality NFT is one that WORKS. Our NFT’s all DO something. They represent something in the physical world in one way or another. Possibly multiple ways. On our marketplace, one that I would probably consider “high quality” is one released by an artist that is considered “High quality”. An artist that is fully dedicated to their community, and simultaneously is creating great music.
There has never been a platform like this for the music industry, and I feel like it somewhat evens the playing field. And it gives consumers a new place to discover new music, a freedom that very well may shift the trends…much like we saw with the surge in popularity of SoundCloud. Imagine if they sold merch, had private Discord servers, and Immediate Payment Methods for SoundCloud artists…That’s basically what we are doing, including bringing blockchain technology to the masses… Therefore, I think every NFT we make is High Quality… each one is going to have a positive impact on changing the entire music industry.
Question 5 from Crypto Angel
“Now that technology is changing every second, are you afraid that in the future you will lag behind new projects with newer technologies? Do you have a plan for this?”
Blake: Im not afraid that we will lag behind. I think blockchain technology is still very underutilized. Of course, the masses do not understand it, but that doesn’t really matter. Neither is Solar Power, but the lights still turn on. All that matters to the consumer is the benefit. If we can provide convenient benefits, while monetizing, everyone is winning. I believe with the influx of AI, we are in a great position to expand on our capabilities as trends grow and technology increases.
Question 6 from Mr. Depp
“A strong community not only brings interesting ideas to the project but also attracts larger partners. So how is its initiative planning to build its community? And is there a plan to recruit people with Blockchain experience to the initiative team?”
Justin: Our team is a combination of people involved in blockchain and people involved with the traditional music industry to help NEAR in its efforts of reaching mass adoption. We are tapping into our network of artists and aiming to recruit outside of the ecosystem. Once we start building through that we will introduce them to the DAO and slowly start to get the communities involvement. Dao members will hold $FEAST tokens which will act as a social and governance tool. The community can access DAO finds for projects approved, and artists can access grant money for projects approved.
Question 7 from LORELA
“Current NFT is a hot topic, but are NFT not just for art. Does your project think that more real world use cases will emerge for NFTs as time goes on. Why should we take NFTs seriously?”
Justin: Our whole idea is to give real-world use cases, which is why we are blending the traditional and non-traditional industries. Moreover, the NFTs will link to the traditional audio release and unlock specific utilities like the artist fan club, physical merch, royalties, video, etc. It won’t just be art or audio that sits in a wallet.
Question 8 from Web3Mon
“Regarding the supply of your token, what is the total supply? What guarantees to me as a member of the community that a transparent, fair and complete distribution will be made? What portion does your team own? How will the tokenomics distribution be carried out?”
Evie: We already have a solid foundation of the design of the tokenomics but it is too early to release any finalized information. EEE is a community-driven project, therefore, the tokenomics was designed in that way. We will be pushing the boundaries of what value the token can bring … as it will possess attributes of a social, governance, and utility token. Most are probably familiar with governance and utility token. The goal is to bring a level of relationship between the artist and fans in a way web2 can. And the token will drive it. The information will be made public prior to any sort of distribution such as a raise or a sale. We have some exciting means to distribute the token but again, it is too early to give that information out. Keep an eye out for our socials!
Question 9 from Mr. Depp
“Do you allow suggestions and feedback from the community? Are we allowed in decision-making, do you put the community into consideration?”
Evie: As mentioned in the previous question, EEE will be extremely community driven and over time, will have a robust governance system that will heavily involve the community in decision-making. That end goal of having a mature DAO will have an allocation of token because we do believe it will be a core part of the business. The DAO will make decisions on how to distribute those funds such as initiating a grant for the incubation of an artist. Once launched, we will always be open to any suggestions or feedback for the project, please drop by our socials to provide feedback or just drop by to talk music with us!
Question 10 from Fedarar
“Most of the questions people ask in the AMA section are about the strengths of the project. On the contrary, I care about difficulties and challenges. So what difficulties did the team face while developing the project and how did they overcome them?”
Justin: We have been building for the past year. Through two bear markets that have literally shattered the confidence of so many artists who were thinking about jumping ship to the web3 space. The artists we deal with are comfortable where they are at. Therefore, convincing them to do anything different has been a huge challenge, especially given the market conditions. We have had to act fast in order to cater to their needs and give them the assurance needed to try something new. Some of the solutions we developed were auto swap functions from NEAR to stablecoins written for their percentage in the smart contracts. We are dealing with these artists’ fanbases, so they are probably not crypto-savvy. Moreover, we have teamed up with other developers to integrate automatic, non-custodial wallets with the ability to log in with email, google, Facebook, and pay with fiat.
Question 11 from 2David
“What is the biggest challenge that Everyone Eats Entertainment has faced in previous year. And what is it plan in next year?”
Justin: Navigating bear markets. Thankfully we have a solid team that helps motivate each other. We know the potential in Web3, which is why we keep on moving. for this next year. In addition, we plan to open up the marketplace which will be next month. You can sign up on the website for our launch notification at www.musicfeast.io. We have signed DJ Whoo Kid, who is a legendary hip-hop figure and responsible for the rise of 50 Cent’s career. We are going to build out his community and create some really special super exclusive merch and experiences. Moreover, we will continue to onboard artists through our network, launch the feast token and build out the DAO. We will explore metaverse events and are opening the door to cross-DAO collaborations.
Question 12 from kit jovina
“Is your platform limited only to music artists and fans? How about music promoters and producers out there. Do they have a significant place in EEE’s platform in terms of bridging different events, collaborations and activities?”
Blake: I feel like the platform is created to have the ability to highlight, and compensate, all of the moving parts that make up the project as a whole. To me, in terms of entertainment, the artist and the fan is the primary focus. All of the moving parts in the middle such as engineer, producer, promoter, manager, a&r, etc…are necessary components in an artist’s campaign success, but those roles do not include being the rock star.
The rock star is the one that sells the music. One of the most important lessons I’ve learned in the music industry is to let the rock star be the rock star. If you aren’t the star and are trying to be the star, you are distracting attention from the rockstar, and doing a disservice to the project, and everyone else’s hard work. Of course Producers and Promoters or whoever can present a project for our platform. It absolutely makes sense in many cases. Moreover, I want to make sure that the focus of the campaign aligns with the priorities and goals of that person or group. How are the music and campaign warranting the non-artist being the focus of the campaign? Does it make sense? How can we make it make sense? I truly want to change the industry, so I’m open to anything.
Conclusion
Nearity: Thank you and the Community for being here today. Don’t forget to join and follow Everyone Eats Entertainment telegram. I am sure that the community will be looking forward to Everyone Eats Entertainment’s event in the near future.
In addition, we have another event for the community. Follow me to get a chance to receive the reward and explorer the Ecosystem
Moreover, thank you to the Near Foundation have helping Nearity to support projects
Best regards to all of you, thank you for your presence
Goodbye!
You can listen to the Recording of the AMA:
🔔Set to reminder in⤵️https://t.co/iXoEGret6o
— Nearity 🅝 | Create Without Limits (@Nearity_org) February 14, 2023
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