GroundUp Studios, a forward-thinking, web3-focused music label today announced that it has officially launched its operations in Hong Kong. The company is one of the first entertainment platforms in Asia focused on the development of original art and music utilizing NFT and blockchain technology.
GroundUp Studios’ vision is to shine a light on the impressive pool of musical and artistic talent in the region. By using transformative technologies like blockchain and NFTs, it aims to drive the creation and commercialization of art that will be ultimately seen and embraced around the world.
GroundUp’s plan is to build a comprehensive web3 ecosystem of NFT art investors; technology enthusiasts; music and art lovers; songwriters; producers; and artists of all disciplines. The goal is to use new-generation social media platforms to create a borderless space for artists to socialize and connect with the web3 world. This in turn inspires artists with new artistic ideas, empowering them to re-imagine the music and art that they are capable of creating.
As part of this community building effort, GroundUp Studios plans to issue its first NFT membership access pass in the coming months. Apart from networking opportunities, owners of this access pass will gain a wide range of benefits – from virtual music sharing sessions; to live songwriting jams; and exclusive IRL artist performances. More details will be provided in the coming weeks.
Multi-disciplined Management Team
GroundUp Studios is led by co-founder and Creative Director Adrian Fu. Fu is a multi-disciplined executive with over 20 years of experience in brand marketing and partnerships, as well as having extensive work experience in technology sectors. Furthermore, he is also an award-winning songwriter and recording artist in his own right, having written for top-tier artists in Greater China such as Eason Chan, Sammi Cheng and others. As a recording artist, he has released two albums to his name, of which his debut album “Good Morning, Hard City” earned him a nomination in 2015 at the 26th Golden Melody Awards for best newcomer of the year.
Fu will be joined by a dynamic team that engages with a vibrant Web3 global community. The team has minted out several NFT projects in recent years, and also has extensive experience building and operating regulated CeFi platforms, DeFi infrastructures, and blockchain-based applications for mainstream adoption.
Collectively, the team will advise artists on how to build (and own) their brand utilizing Web3 tools including minting NFTs, representing themselves in virtual worlds, and establishing an engaged community.
“Adrian’s uniquely diverse experience across marketing; recording artist; published songwriter; and NFT / blockchain project execution is a natural fit with the team’s extensive web3 and fintech expertise. Together, we will unlock the true value of web3 to artists and fans, as we achieve true democratization and equality of music, commerce and monetization,” said Alexander Lee, Executive Director. With experience across TradeFi, CeFi, and DeFi, Lee was involved in spearheading the early developments of SFC-licensed virtual asset platforms, and continues to drive mass adoption of Web3 across mainstream sectors.
Fu said, “I am excited about the promise of web3 music, which presents incredible new opportunities for artists around the world – both commercially and artistically. I firmly believe that the timing is right to launch a music company like GroundUp Studios. We are witnessing a giant leap in technological innovation right now, which is rewriting the mechanics and rules of most industries and businesses. Now, professional and amateur artists are able to create and connect with audiences halfway around the world, while generating steady revenue. In my view, we are on the cusp of a golden age in art and music.”
Web3 music sector ramping up
As an umbrella family of new technologies, web3 is still in its early stages of development but it has already transformed the arts industries. Currently, the music NFT market is only valued at around US$87 million (source: Token 2049), but artists are now realizing the potential opportunities – including new monetization models, to new forms of creative expression.
Commercially, artists now leverage blockchain technology and NFTs to sell their music directly to fans without intermediaries such as traditional record labels, managers and distributors. This enables faster payouts and expanded revenue streams for all levels of artists. For example, iconic rapper Nas teamed up with DJ 3LAU’s platform, Royal, to release his first-ever NFT collection. 1,870 NFTs were issued across two drops; both were sold out in minutes which generated over US$560,000 in revenue.
From a music fan’s perspective, web3 music (through NFTs) offers new ways for them to engage with their favorite artists and music. In many cases, NFTs allow fans to actually own a unique piece of digital art or song, and could deepen their engagement and support for their artists beyond sharing social media posts. As owners of an artist’s NFT, fans can play a more active role in shaping an artist’s day-to-day business and creative decisions, allowing audiences and artists to grow together in more meaningful ways.