If you are looking for Web3 business models, check out Avenged Sevenfold

Cult heavy metal band, Avenged Sevenfold is becoming one of Web3’s best business models in the music industry. The innovative American group has created various initiatives powered by blockchain technologies such as NFTs to build a solid community with its fans.

Blockchain and its benefits for artists

The adoption of blockchain technology represents a turning point for the protagonists of the entertainment industry: creators. In music, it enables a much more transparent and decentralized ecosystem between artists, record labels and fans. Model anchored in Web3 concept.

For an industry historically centered around major labels and production companies, blockchains are changing the game in both the way artists distribute and monetize their music, and the way they build loyalty and create deeper connections with their fans. They benefit from a new way of interacting with their favorite musicians while also having access to exclusive content and initiatives.

Web3 Business Models: Avenged Sevenfold

As we mentioned, an example of blockchain integration in the world of music is the popular band: Avenged Sevenfold. But, What exactly is Avenged Sevenfold doing with blockchain? What was your model for Web3? Are they an example of the way forward for artists and creators? Let’s explore their initiatives.

What is Web3, the future of the Internet?

Deathbat Club

In 2021, at the peak of NFTs, Avenged Sevenfold decided to enter the sector by launching the first collection of 101 free NFTs called “Into The Ether”. Despite criticism and rejection from some fans regarding the adoption of NFT, the band, led by its lead singer Matthew Sonders, known as M. Shadows, trusted the use of NFT technology from the beginning.

As a result, he created Deathbat Club, a blockchain-based membership club consisting of a collection of 10,000 NFTs. A collection divided by different levels of scarcity gives access to different perks and exclusive benefits. From special merchandise, access to buying tickets, skip the line at concerts or the ability to go to private events, meet band members or get tickets to shows and Meet & Greets for life. Even the rarest NFTs offer dinner with the band or guitar lessons as a reward.

Avenged Sevenfold’s Deathbats Club NFT. Source: Avenged Sevenfold

Deathbats Club NFT ownership is exclusive to fans. This is possible because the band has granted them the intellectual property rights to every NFT they own. So they can create any type of product, business or promote the image of the collectible in any way.

In this way, Avenged Sevenfold created a solid Web3 community with some of their most loyal followers represented in more than 5,600 holders from Deathbats Club NFT. This is something that “powers” the Shadows, who go into a blockchain-powered membership club like a fan club or community “on steroids”.

NFT tickets

Avenged Sevenfold’s Web3 model also addresses another critical sector in the music industry: ticketing. The band was the first to use NFT giant Ticketmaster’s integration to provide Deathbats club members with special access to purchase discounted NFT tickets for concerts in Los Angeles and New York. It also provides additional benefits such as special pre-sales, exclusive concerts, tours and more personalized experiences.

This initiative extended the benefits of Avenged Sevenfold’s Web3 membership model. shadows secured That collaboration with Ticketmaster, often criticized for its ticketing system and NFT format for tickets, shows a possible model for artists trying to offer better concert experiences to fans.

Ticketmaster sells concert tickets in NFT format

Rewards for being a fan

Avenged Sevenfold’s Web3 strategy includes free blockchain rewards program called TicketPass, which is built on top of the Polygon. Band followers have access to benefits for their fan status. Activities such as listening to a band’s music on Spotify, buying a t-shirt or going to concerts are thus rewarded with free NFTs, with which they can unlock new levels and get benefits also related to tickets, merchandise, live shows and more. This program can be seen as a way for fans to interact with the Web3 ecosystem before becoming a member of the Deathbats Club.

Metaverse and virtual reality

The band is also experimenting in blockchain-powered meta-versions, such as The Sandbox, where it has its own virtual land, a space called ‘City of Evil’where fans can interact and run activities for free in the virtual world.

As part of its experiences focused on virtual worlds, it is also Avenged Sevenfold creating paid concerts powered by virtual reality (VR), with the help of startup AmazeVR. The initiative will offer fans an experience described as a cross between a music video, a live concert and a first-person video game via VR glasses. The first concert is expected in 2024.

Blockchain and Web3 in music

Two years after the release of their Deathbats Club, the band proved the success of their Web3 strategy. Community members are celebrating the initiative and the benefits of being a member of the new music club on social media. Avenged Sevenfold channeled blockchain principles and strategies anchored in Web3 to map out a community model that benefits fans and artists in multiple ways. With Shadows, this is only possible thanks to blockchain technology.

Shadows believe that NFTs are used to reward fans for doing fan things. In fact, he has a vision that blockchain and NFTs can offer fans much more than the artists themselves. With the Web3 model, a band can reward their loyal audience for listening to songs, buying their records, tickets or merchandise, as the NFT token can continue to add new things over time. “I don’t think you can really do it without blockchain,” emphasize Shadows.

Shadows and Avenged Sevenfold’s will and trust in blockchain allows us to illustrate How an engaging, fan-centric Web3 model can deliver great resultseither shadows Explain that with the presentation of the Deathbats Club, many of their fans called them “cheaters”. Some painful criticism that they managed to face over time thanks to their efforts. “It takes people like us who are willing to go in and take arrows in the back,” Shadows says.

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