Blockchain and Web3 technologies are poised to redefine the internet by giving users and creators more control over their content. For independent artists and creators, this evolution could mean unprecedented opportunities to profit from their work while bypassing traditional middlemen. Chris Lyons, president of Web3 Media at a16z crypto, Andreessen Horowitz’s crypto-focused venture fund, shared these insights on Yahoo Finance’s Financial Freestyle podcast.

Lyons emphasized how blockchain allows creators to retain 100% ownership of their followers and intellectual property. He illustrated this by referencing Jean-Michel Basquiat, the iconic American artist. Basquiat sold a painting for $25,000 during his lifetime, but decades later, that same piece sold for $100 million. The financial benefits of this appreciation, however, were not shared with him. With blockchain integration, smart contracts embedded in the digital record of ownership could ensure artists earn a percentage of every subsequent sale.

According to Lyons, this innovation extends beyond visual art. He foresees the emergence of new music platforms that focus on fostering meaningful connections between artists and their audiences. Instead of requiring millions of purchases for sustainability, an artist could thrive with just 1,000 devoted fans who consistently support their work by purchasing albums, merchandise, or tickets. Blockchain’s ability to establish direct, transparent interactions between creators and consumers ensures that artists receive a fair share of their earnings.

Lyons also addressed the challenge of public unfamiliarity with blockchain technology. He compared it to the early days of GPS — initially seen as complex, yet now seamlessly integrated into everyday life. In the future, blockchain and AI technologies could be so intuitive and embedded that users won’t even realize they’re using them.

Ultimately, Lyons believes decentralization is the key to true financial freedom. By eliminating centralized systems that currently dominate creative industries, blockchain offers a path where ownership and profits remain in the hands of creators. For artists, musicians, and other independent creators, this shift signals a transformative era where creativity and financial empowerment go hand in hand.