At BRIGHT’s Creative Business Cup, Jack Nikogosian will present on the role blockchain technology could play in the creative industries. Blockchain has the potential to change the way art is valued, transacted and consumed.
EDIT – MARCH 2020: The event has been cancelled due to the current outbreak of the coronavirus. ARYZE has been invited to take part in the 2021 edition.
On June 29th-30th, ARYZE CEO Jack Nikogosian will be speaking at the ninth annual Creative Business Cup, a competition for global entrepreneurs developing businesses in the creative sector. The Cup is an opportunity for entrepreneurs from all over the world to exchange and workshop their ideas, meet investors, receive feedback and build partnerships. The Cup is also an opportunity for entrepreneurs to compete for business support and other prizes. This year, the Creative Business Cup will introduce BRIGHT, a network of startups, funders and thinkers created around the values and goals of the Cup. Says Helene Lassen, an organiser of the Creative Business Cup:
BRIGHT is the global gathering of creative innovators, entrepreneurs, investors and supporters of cultural and creative industries. BRIGHT aims to create a bright future for everyone by sharing ideas and solutions created by the cultural and creative industries in a global community – not just during an annual gathering, but all year round.
BRIGHT offers the following:
- How to-sessions
- Case exhibitions
- Funding opportunities
- Policy making – improving conditions for the cultural and creative industries
- Business development
- New technology
- Partnership facilitation
Both the Creative Business Cup and BRIGHT are run by the Creative Business Network, a forum that connects innovators within the cultural and creative sectors, with the goal of taking a creative and cultural approach to solving some of the world’s greatest challenges.
To participate in BRIGHT’s Creative Business Cup 2020, sign up here.
At the Cup, Nikogosian will discuss the impact blockchain could have on artists and the creative industry. Blockchain has the potential to revolutionize both the way artists secure rights and the way their work is valued. For example, blockchain could redefine how and how much creatives are compensated for their work, and could eliminate the expensive intermediaries between artists and consumers.
“It’s likely the case that [creative work] is in reality worth much more, but the problem is creative work is undervalued due to all of the transaction frictions we see today.”Wences Casares, CEO of Xapo
“Smart contracts” developed on blockchains restore power to artists, enabling them to determine their rights and the terms of their transactions. Since transactions are recorded on public ledger, blockchain could make clearer the value of creative works and facilitate the fair remuneration of contributors. By increasing the accountability of artists through that public ledger, blockchain could lead to stronger creative partnerships and increase acknowledgement of artists. Blockchain could enable “micromonetizing”, wherein parts of a creative work, such as seconds of a song, can be sold. The transformative potential blockchain has for the creative industry is vast, extending far beyond the examples listed here.
Although there remain many questions, such as whether or not creative media should be stored on the blockchain and how to get more artists “blockchain-ready”, it has the potential to add enormous value to the creative industry. To hear Jack Nikogosian explain this important topic, sign up for the Creative Business Cup. Read more about the role blockchain could play in the creative industry here and here. More information about the Creative Business Network is available at cbnet.com. For more insights into how blockchain technology could transform the world, and other interesting ideas, please visit blog.aryze.io.