DAO Proposal: Loft Radio 🎧

Sup MetaCartel! A few months ago my friend Michael and I launched Loft –– a free, 24/7 radio where listeners can tip artists directly in ETH while their music is playing. We’re live now at https://loft.radio.

You may have seen our ETH Denver project (Bound), another project focused on helping artists make money doing what they love. We both produce music, make web apps, and are passionate about exploring new ways of supporting creators online using crypto.

Vision :rocket:

Loft was made to explore new ways of exchanging value between listeners and artists. We’re creating experimental listening spaces centered around supporting creators directly. Loft empowers listeners to support the work they enjoy, and artists to collect money themselves for their creations. On Loft, artists receive 100% of every tip directly into their Ethereum wallet.

We’d eventually like to have stations for:

  • Different genres
  • Record labels // collectives
  • Listeners // curators

To support something like personal stations, we need to move away from our current broadcasting service, Radio.co. We’d like to create a custom solution to broadcast live audio in a decentralized way. We’re considering building of building on top of the Audius protocol, and think this could be beneficial to both the music industry and web3 ecosystem.

We’re also exploring other ideas around tipping including “streaming" money, tips that earn interest, and “investing” in songs/artists. Ethereum opens up endless opportunities to support creators in new ways monetarily. Loft will become a novel destination for listening to, discovering, collecting, and sharing music online, all while supporting the artists who make it.

Progress :building_construction:

  • MVP built with Vue, AWS, Firebase, & Radio.co
    • Direct tipping in increments of 25¢
    • Logging all tips on our backend
    • Live chat - tip to customize your name
  • 34 artists on the stream (w/ ETH addresses)
  • 2 labels (Inner Ocean & Dust Collectors)
  • 8+ hours of original music
  • 71 tips (0.0807 ETH) from 31 individuals (not from us)
    • Enabling custom chat names drove 23 users to tip

What we can achieve :jigsaw:

  • Engage a new audience with the magic of crypto.
  • Incentivized curation (get paid for having good taste)
  • A lower barrier to entry for artists to gain exposure and generate revenue
  • Create a new way for people to discover, listen to, and engage with music online

Why would artists submit music to Loft? :man_shrugging:

Revenue :money_mouth_face:

We offer an alternative revenue stream for digital music and radio. Listeners can tip artists directly in ETH, and artists receive 100% of every tip. Loft does not take a cut, and we’ll continue to introduce new incentives for listeners to tip.

Exposure :busts_in_silhouette:

We support artists with promotion and exposure by providing a platform to showcase their music. While an artist’s music is playing, we link to their SoundCloud, Spotify, or any other URL. Upon acceptance, we promote them on socials and debut their music at a specific time for 7 days.

Community :handshake:

We invite and embrace community feedback. We aim to involve artists more directly in the evolution of Loft. Their feedback guides the future of a small project that embraces technology, values transparency, and believes in fairness for creators.

What’s next? :hot_pepper:

  • We love the amazing community and collaborative energy that is MetaCartel. With the help of your guidance and support, we hope to grow our community of listeners, artists, and labels tenfold, drive more exposure and revenue to artists, and fulfill the vision of Loft.

  • So far we’ve spent $420 on the project (no joke). We’re asking for a grant of $1000, which would allow us to focus significantly more time on Loft. The funds would go to:

    :man_technologist: Development time (view our priorities here)

    :radio: Radio.co subscription

    :incoming_envelope: G Suite subscription

    :framed_picture: Commissioning art

  • We’re exploring options for becoming self sustaining and profitable, but our number one priority right now is to create a product that brings value to artists.

5 Likes

Awesome project! Tons of cool stuff to come. Will definitely be using and contributing to this :sunglasses:

Awesome stuff, I approve!

1 Like

Sounds great. Makes a lot of sense integrating with Audius for sure. You’ve got my vote and support. Good luck and we’ll be listening!

This is really cool!

A few questions:

  • How are artists/tracks chosen? Seems like a really cool opportunity for a community run radio station. Maybe you could DAOify it…
  • Are there plans to integrate multiple channels with various genres?
  • Have you thought of launching chats along with the stations (could just be Telegram chats at first) so that people listening could talk about the music? (this might be a terrible idea lol)

Thanks @burrrata - appreciate the questions :grinning:

  1. We’re curating the station ourselves by reaching out to artists and labels individually. Onboarding creators is a somewhat time consuming bottleneck to getting more music, but outsourcing to labels has improved that process. We’ve considered DAOifying the playlist, which comes with many upsides and complications, but for the time being we’ll continue curating to taste. Let me know if you have any ideas here! (:

  2. Yes! Our current streaming service provider (radio.co) isn’t scalable (fixed price per station), so we need to move to a custom, decentralized solution (ideally built on Audius) before spinning up more channels. What genres would you like to hear next?

  3. We have a chat live on the site and a Discord. Anyone can chat anonymously, or send a tip to create a custom name. As we create more stations they’ll each have their own dedicated chatroom.

Don’t hesitate to reach out if you have any other questions/feedback - I’m @jzstern on Twitter & Telegram. Would love to hear from everyone :slight_smile:

2 Likes

Some things to consider about DAOifying curation:

Benefits

  • Novel, community-driven stations. Possibly the first decentralized radio?
  • No longer have to curate those channels.
  • More listener involvement w/ potential for cool incentives (e.g. you voted a song in that was popular & earn some revenue for it). Users get to promote their favorite artists.
  • Larger reach. The whole is greater than the sum of its parts, and we’d all hear more music that we otherwise wouldn’t have exposure to.

Challenges

  • Copyright. It’s a major issue we’re avoiding by sourcing original music. How do we collectively verify that tracks don’t contain copyrighted material & aren’t signed to a label?
  • Quality. How do we ensure the quality of music meets our standards? Does it even need to? Does an approved track stay on the playlist forever?
  • Identity. Who can submit music? How do we ensure people don’t pretend to be an artist?
  • Onboarding. How can we create a seamless, automated signup/submissions flow for non-crypto literate users?
  • Infrastructure. We’d need to build a system to handle all of this so it could run without us.

With all this in mind, we’re focusing our efforts elsewhere for the time being. A submissions portal + crypto onboarding experience is on our roadmap and is a great first step towards getting to a community-run playlist. We’d need to move to Audius (or another streaming solution) before implementing a truly automated process as well.

So as you clearly outlined: DAOs, esp governance: aka decision making, is hard. Def a good call to first focus on creating value for your users, then decentralize.

Want to support you guys, but need a more varied diet than just lofi lol. I like higher energy music, also movie soundtracks, but everyone’s different. Would be cool to have more variety.

Speaking of, if would be really cool (and like DAOifying this is a future thing) if people could stake tokens to reserve slots on the airwaves, and then people could boost the sets to A) support the artist, and B) create a cryptoeconomic prediction market on the future value of that set to listeners. Could create an interesting curation game

Huge fan, love music, obsessed with Crypto so the intersection of the two had me hooked from the first track :two_hearts::notes:

+1 for a hip-hop station :hippopotamus:
+2 for deep house/ hacker tracks, focus music etc :control_knobs:

I’m sure this has been mentioned but why not use DAI to tip artists ? Seems like $1 = 1 song would be such a great fit, where as 0.0074 ETH which could equal 10,15, 50 dollars in a few years will just make me resent giving tips lol