In 2024, we will be closer to the emerging talents in the music industry than ever before. Nebula is set to participate in the Grammy Award celebration. In this blog post, we will share our journey to the heart of the music world, as we attend the Grammy Awards Party, thanks to our partnership with EMPIRE, the legendary independent record label.
A Grammy Award is the ultimate honor in the music industry, representing the peak of success and recognition. A Grammy can boost an artist’s career to new levels, creating opportunities for partnerships, sponsorships, and worldwide fame. For some, winning a Grammy is more than a proud achievement; it’s a life-changing event that can shape an artist’s future. The Grammy Weekend is a fusion of skill, innovation, and joy, providing a priceless stage for artists to display their craft to the world.
We are humbled to see that Nebula is earning recognition within the artistic community and the broader music ecosystem, not just for our innovative application of cutting-edge web3 technology, but also as a committed team motivated by a deep passion to improve the financial aspects of the music industry.
EMPIRE invites Nebula to their Grammy Awards party
A year ago, we proudly announced our partnership with EMPIRE, the renowned independent record label, distributor, and publisher, founded in 2010 by Ghazi Shami. This weekend, EMPIRE will kindly provide us a booth at their private and exclusive Grammy Awards party. Our presence at this red carpet event lets us display our values and vision to a larger crowd, signifying an important milestone in our continued collaboration.
Earning money is better than consuming music for free.
Due to a system that undervalues music and creates a barrier between artists and fans, artists face difficulties in earning money online, as they have to make do with low-paying streaming services. This leads to a situation where fans have no concrete benefits for supporting artists, and thus no motivation to respect their (music) rights. The music industry calls this problem the “value gap” – a situation where online music consumption is soaring, but where revenues do not match this trend.
Value music the way it deserves to be
Music has value to each of us for various reasons. Seems obvious, right? Then why do we keep treating it as a consumer durable? It should be seen as an investment precisely because it increases in value over time.
Imagine you invest $1 in a song, and after 9 months you recoup that $1 through your share of royalty payouts. After 10 months you start earning money. This is where the magic happens because now it is clear that earning money on a song is better than having streamed it for free.
This is what we mean at Nebula when we say that the natural way to treat music is to see it as an investment. This, however, leads to another question: Who decides what the value of music is?
How much is a Grammy Award Trophy worth?
The market determines the value of music, according to economic theory, but the Recording Academy that gives out the Grammy Awards is arguably the most influential market actor to recognize excellence among various musical styles and roles within the industry, and thus also influence the value of a piece of music.
See the full 2024 GRAMMY nominees list here.
As a “nebula” is the space-time where stars are born, and as the category “Best New Artist” usually predicts future stars, we thought it appropriate to check out this category to answer our question: How much is a Grammy Award Trophy worth?
2024 GRAMMY Nominations: Best New Artists:
- Gracie Abrams
- Fred again..
- Ice Spice
- Jelly Roll
- Coco Jones
- Noah Kahan
- Victoria Monét
- The War And Treaty
We will be monitoring these incredible artists and we will try to evaluate what impact the Award Show has had on their young careers. We will provide an interim result next week – right after the show – and then more as they happen in the next weeks and months. So subscribe to our newsletter or follow us on Instagram if you are interested in learning more about how the creation of value actually works.
In addition to the private EMPIRE party mentioned in this article, you can also find us and talk to us during the Grammy Weekend at “The African Nominee Brunch”, “The Global Affair Celebrating Africa” as well as “The 66th Annual Grammy Awards Show”.
Jenna Kadhum, Nebula A&R Director
Yamen Hawit, Nebula Founding Member
Alessandro De Luca & Fuad Hawit, Nebula Co-Founders