Revolutionizing Music: Darryl McDaniels of Run-DMC Embraces Blockchain at SXSW

Connecting Through Creativity

At this year’s bustling South by Southwest (SXSW) festival, where technology meets the arts, Cointelegraph’s senior reporter Rachel Wolfson found herself in the thrilling mix of pioneers from the crypto, blockchain, and Web3 industries. Among those was the illustrious Darryl McDaniels, famously known as DMC from the iconic hip-hop group Run-DMC, who shared insights on music, capitalism, and the future powered by blockchain technology.

From Hip-Hop Royalty to Blockchain Advocate

Run-DMC not only defined a generation but also exemplified the transformative power of music. With classic hits like “It’s Like That” and “Walk This Way,” the trio carved out a legacy that many still admire. In a candid discussion, McDaniels didn’t shy away from highlighting the flaws that capitalism imposes on the music industry, and how a collaborative approach with blockchain can challenge that narrative. With a flair for words, he even freestyled a witty verse at the start of the interview, blending his love for rap and crypto.

The Power of Decentralization

In a world where artists often struggle for ownership over their creations, McDaniels is at the forefront of a movement to reclaim that power. “Run-DMC was always about bringing people together and making things better,” he noted. McDaniels is working with Algorand and The Song That Owns Itself (STOI) to manifest a vision where creators retain full rights to their work. He articulated, “The creator is where the power begins, and that’s where the power should stay.”

The STOI Initiative: A Glimpse into the Future

STOI is set to disrupt the traditional music landscape by utilizing smart contracts and innovative tokenomic governance models. This project aims to empower creative minds and their fans, utilizing the ethos of Web3 to bolster artistic autonomy. The recent success of their inaugural non-fungible token (NFT), “God Particle,” was just the beginning, as STOI transitioned from Ethereum to Algorand for enhanced efficiency and environmental considerations.

McDaniels’ Latest Venture: “Million Scars”

In a fitting culmination of his efforts, McDaniels announced that his latest track, “Million Scars,” would be a part of the third edition of the STOI project. This song was performed live at the SXSW festival, proving that art and technology can harmonize beautifully. “It’s not just about moving out the middle man,” he explained, emphasizing inclusiveness throughout the creative process. “The song owns itself because the song is the thing.”