New artist collective platform helps artists with funding, collaboration and transparency
Charlie Lim is a singer-songwriter and producer from Singapore who has grown into one of the region’s most recognized voices in contemporary pop music in the past 10 years. Both his albums TIME/SPACE and CHECK-HOOK clinched #1 spots on the iTunes Singapore charts and he’s bagged Album of the Year by The Straits Times and Best Song of the Year by Apple Music. The Great Wave: An Artist Collective DAO is a new initiative seeking to bring together artists from different disciplines in order to create and distribute art collaboratively.
DAOs, (Decentralized Autonomous Organizations) are networks of stakeholders collaborating around common goals and are becoming the natural governance structure for online, borderless collaborations that allow for collective ownership and risk-sharing at scale. The Great Wave enables artists to reinvest a portion of their fee back into the DAO’s governance token at a better rate, allowing them to have more equity in the collective without having to put money up front.
DAOs, (Decentralized Autonomous Organizations) are networks of stakeholders collaborating around common goals and are becoming the natural governance structure for online, borderless collaborations that allow for collective ownership and risk-sharing at scale. The Great Wave enables artists to reinvest a portion of their fee back into the DAO’s governance token at a better rate, allowing them to have more equity in the collective without having to put money up front.
When it comes to trustworthy partnerships, the constantly changing crypto/Web3 environment may be overwhelming. Having a solid working relationship with reputable people is essential for any project’s success. “While Web3 platform ACryptoS has established itself as one of the more trustworthy and secure projects in the DeFi ecosystem, knowing its creators X and HM personally and ensuring that our goals and principles were in line was critical,” says Charlie.
Clarence Yap, the founder of The Music Circle, Umami Records, and former Head of Music at Esplanade Theatres on the Bay in Singapore explains, “The Great Wave’s initiatives will be focused on utility and community support. For example, our governance NFTs prioritize ownership and access over scarcity because they are infused with our staked governance token, allowing anybody to own and participate in the collective while receiving perks.”
The Great Wave, unlike some other Web3 projects, was created through an open, community-first approach. “We wanted to begin the collective with as little pre-funding and private pre-allocations as possible so that anybody could contribute to the DAO,” says lead developer HM. “By avoiding depending on larger corporations or venture capitalists from the start, we will be able to work at a speed that is acceptable for the group.”
Since the release of its native token WAV early this year, The Great Wave has been onboarding musicians, producers, visual artists, managers, and advisors from various industries and will release its first record in Q2 of 2022. “We’re really grateful to have such a loyal network behind us and look forward to continuing to attract individuals with similar goals who want to work together in this area,” Charlie explains. “At the end of the day, we all want to contribute to something greater than ourselves.”
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