Thursday, January 27, 2022

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    #CryptoPumps: The Official NFT Drop by Lil Pump

    Recording artist and internet personality, Lil Pump, has made history! In an official statement via his twitter earlier last week, he announced himself as the first to launch a complete musician-themed generative drop, CryptoPumps (2D/3D Lil Pumps), on one of the fastest and most powerful blockchains in the world – the Solana blockchain. Solana is also the fastest growing ecosystem in the Web3 space, with emphasis on scalability and eliminating barriers to entry for creators.

    This is essentially a continuation of Lil Pump’s career in the Web3 space; he already dabbled into Web3 through a number of deals and projects beginning with a high-end giveaway nine months ago, a royalty deal with Opulous about a month ago, and currently the promotion of NFT PFP projects. This move with CryptptoPumps is a first of its kind, and has the following implications for the intersection of music & Web3.

    Web 3.0 Impact to The Music Industry
    Mainstream artists are gravitating towards blockchains like Solana due to cost, speed, and access to mainstream developer + creators tools.
    Musicians have to build official ecosystems with the relevant utilities after the distrust with artists like Lil Uzi Vert abandoning all affiliations to his NFT project.
    Generative drops can now be in the theme of the artists rather than animal cartoons to reinforce their personal brands.
    The use of NFTs to tap into other revenue streams like lyrics, concerts, and merchandise will become the norm for artists.
    Having new music artists on Solana will result in seamless onboarding to dApps like Audius; the industry should expect an unprecedented number of mainstream musicians coming on to these platforms.
    Music personalities can serve as role models for Web3 education; this will lead to mass adoption by the youths.
    Despite this, music-based NFTs with a heavy emphasis on audio files, still remain underdeveloped and are the next frontier to explore.

    The Story Behind Dr. Pump
    Lil Pump notoriously rebranded himself as a Harvard Dropout on 22 February 2019 at the age of 19; this season, as part of the push towards mass adoptions of decentralized technologies, Lil Pump, is now known as Dr. Pump, a Professor at Solana University. Check out the full story of how Lil Pump rebranded to Dr Pump here.

    What’s the whole point of the story?
    Dr. Pump believes that an educational perspective of Web3 from a young 21 year old icon like himself, will serve as a huge influence on today’s kids especially in terms of rekindling the values of education; it also serves as a way of introducing youngsters and other newbies to the Web3 ecosystem. Essentially, he sees this as a trojan horse for the underlying tech he is trying to promote. This comes from Lil’ Pump’s personal struggle with the music industry, and his desire to empower other young persons to build their career on transparent systems that reward them directly for their work. Lil Pump even said “Web3 is like my fanbase. It sees no color, creed, or background, it just gets money.”

    Lil Pump was also known for his prominent rise into the internet scene using SoundCloud. He has described Web3 platforms that empower artists in a recent “Pumpamentals 101” lecture as “SoundCloud for the new internet; but with viable profitability for the everyday artist.”.
    About the Drop
    In a number of firsts, CryptoPumps is pioneering a lot of moves in the Web 3.0 and Solana ecosystem.
    The biggest rap concert in Decentraland (+ tied to real life party in Miami)
    The first and only musician to add cross-chain perks from Solana to Decentraland.
    The first musician to launch lyrics NFTs giving away 100 Lil Pump Lyric NFTs
    The first 2D Gen1 to 3D drop
    The first mainstream drop to implement multiple NFT-based access for exclusive NFT perks
    The first rapper on Solana to have a DAO (decentralized autonomous organization)

    As part of this initiative, the CryptoPumps team has been hosting a regular twitter event every weekday at 9PM EST where they cover news, software development, Solana, Web3, and the NFT ecosystem, with leaders in this community. .

    Asides education, we will be rewarding our users with percs throughout this; both Web3, and IRL (in real life), an intersection of reality & the metaverse.

    The CryptoPumps team will be hosting a Gen2 giveaway mint for the CryptoPumps community; as an incentive, anyone with a 2D Gen1 CryptoPump can participate in the mint for FREE. Also, every participant of the mint will receive the same 1 of 1, but there will be a series of real prizes that can be redeemed from the mint. These prizes include
    Backstage Experience with Lil Pump
    Lil Pump Live Concert Shoutout
    A Lil Pump Instagram Live Shoutout by
    Lil Pump Meet & Greet
    Signed Lil Pump Merchandise


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