Article Revolutionizing the Music Industry: Jake Murphy's Web3 Journey


December 22, 2023


Kingsley Okonkwo

Revolutionizing the Music Industry: Jake Murphy's Web3 Journey

In London, a transformative vision in the music and creative industry is taking shape under the guidance of Jake Murphy, the founder of Clokkemaker and Matter.

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In London, a transformative vision in the music and creative industry is taking shape under the guidance of Jake Murphy, the founder of Clokkemaker and Matter. “Clokkemaker is a creative studio and an early-stage venture capital firm that prioritizes building equity for people across various industries.” Embracing a guiding philosophy of "do well, do good," Clokkemaker is carving a unique path in the creative world.

Complementing Clokkemaker, Matter serves as a holistic music company. “Our core mission is to construct equitable frameworks for music creators, ensuring that their contributions are recognized and rewarded fairly.” This initiative is particularly crucial in an industry often criticized for its inequitable distribution of resources and recognition. With Matter, Murphy aims to tackle these challenges head-on, creating a more balanced landscape for music creators.

Web3 and decentralization in the music industry

Jake's journey into web3 was driven by his interest in its potential for decentralization and social impact. He explains, "For me, I look at it from a decentralization and social impact lens." His discovery of web3 marked a turning point, as he realized its capability to "redistribute equity," particularly in the music industry. He believes that this technology can "change systems and models, affecting how artists are compensated and valued."

Jake's commitment to supporting music creators worldwide became evident during the COVID-19 pandemic. He recalls, "A lot of my peers were struggling during the COVID time with the idea of how do we support music creators around the world." In response, he launched a project to distribute financial aid to music creators, managing to distribute close to 1.5 million dollars to over 300 artists globally.

Jake identifies access as a key issue that web3 can address in the music industry. “The music industry, traditionally gatekept by a select few, can find liberation through web3's transparent and direct models of ownership and rights management. This shift can ensure fair compensation for all contributors, eliminating middlemen and vague payment structures.” He acknowledges, however, that web3 has yet to fulfill its transformative potential in the music industry, stating, “While there have been successful isolated cases, like NFT sales, the broader impact on the industry remains to be seen.”

Jake Murphy, the visionary builder of a unified music community

Recognizing that mere cash handouts weren't a sustainable solution, Jake shifted his focus to addressing systemic issues within the music industry. "We concluded that the streaming models didn’t really work for people in terms of how the money was distributed," he noted. His vision is to find innovative, equitable solutions that could reshape the music industry for the better.

Music, in Jake's view, is a powerful unifier. He believes that “music transcends language and cultural barriers, serving as a universal connector of people." This philosophy underpins his efforts at Matter Labs, where music is seen as a tool for bringing people together, fostering mutual understanding, and celebrating cultural diversity.

As Jake continues to navigate the intersection of music and technology, his work with Clokkemaker and Matter Labs stands as a beacon for others in the industry. His journey is a testament to the power of innovative thinking and commitment to equity, setting a new standard in the creative and music industries. Jake Murphy is not just creating a business; he is building a movement that promises a fairer, more inclusive future for artists and creators worldwide.