The Internet as we know it is changing. New his Web3 tools and platforms are emerging that leverage blockchain, NFTs and cryptocurrencies. And thanks to metaverse technology, online experiences are rapidly becoming more immersive and realistic. In this future, the Internet, Web3, and Metaverse technologies will transform the way you interact with your favorite artists, musicians, and sports stars. It gives us more immersive gaming and entertainment experiences and new ways to consume art. It will change the creative industries forever.
Music is one of the creative industries already being disrupted by the Metaverse and Web3 technology. Here are his four big shifts happening in the world of music.
Imagine going to a concert with millions of people. In the real world it would be impossible. It’s like hell. But in a matter of days, it’s easy in the Metaverse, as Ariana Grande’s series of virtual Fortnite shows attracted 78 million viewers. Virtual girlfriend gigs like this, where the artist performs as a digital avatar of her, are becoming increasingly popular and offer an exciting way for artists to expand their audience. That’s why the MTV Video Music Awards introduced the “Best Metaverse Performance” category. Announced at the 2022 VMAs, the first award went to K-pop band Blackpink.
Interestingly, pop stars’ digital avatars have also appeared in the physical world. ABBA’s show “ABBA Voyage” is a case in point, featuring digital avatars (“ABBAtar”) of his quartet from his 1970s heyday, performing on stage with real-life bands and backing his singers. show off.
I was lucky enough to go to the ABBA show and I was honestly blown away. It feels like watching a real ABBA stage. Halfway through the show, her wife bowed down and said, “This is going to ruin future concerts.” Please let her take it from her. ABBA Voyage is a breakthrough moment in entertainment. Imagine where this technology will go in the future. The deceased entertainer live (either at a physical location or in his arena in the Metaverse). Collaboration between artists on a physical arena stage alongside other artists’ surreal avatars. Being able to see the Beatles live in concert is an exciting time for live music fans.
A pop star that only exists in the Metaverse?
If you can enjoy a virtual show with a real-life star like Ariana Grande, why not enjoy a performance by an artist who doesn’t exist in the real world?
The appeal to fans is very clear. With real-world performers you can watch videos and follow us on social media.But with Virtual Popstar, fans can do it all and Meet and interact with stars in the myriad of 3D immersive worlds that make up the Metaverse.
You can also see the charm of the managers and companies behind the stars. Digital pop stars never tire of endless promotions and tours. They never say the wrong thing and cause a publicity nightmare. They never ask for expensive riders. You can also stay in different virtual locations without getting jet lag, and even stay in multiple destinations at the same time. For example, Metaverse pop star Poehler was able to perform a concert in Latvia while recording tracks for his debut album in London.
Expansion of goods sales
When Swedish singer Zara Larsson started selling virtual goods on the Roblox gaming platform, she never imagined she could sell online. $1 million or more in sales. What an incredible source of income this will be for performers! But what kind of virtual goods are we talking about? It’s basically like buying in-game accessories for your virtual avatar. In Larson’s case, fans were able to purchase items such as virtual hats, sunglasses, hairstyles, dance moves, and even virtual caricatures of the star.
Virtual products present huge opportunities for both brands and artists. When rapper Travis Scott performed at Fortnite, you’d better believe his brand partner Nike confirmed that Scott’s digital avatar was wearing Nike sneakers. But there are other ways for brands to collaborate with artists and step into the metaverse. Virtual event sponsorships, virtual clothing design collaborations, and virtual product launches, just to name a few.
And for artists, Larson himself says that virtual shows and merchandise could become an economic lifeline for performers as revenue from music sales dwindles. “Streaming services aren’t the most profitable,” she said, adding that making seven-figure money from platforms like Spotify and YouTube “takes a long, long time and requires hundreds and millions of streams.” will be,” he added.
As with art, NFTs are rapidly permeating the music industry. If you think of NFTs as digital tokens or collectibles, it’s easy to see how they can be used in the music industry. Collectible album covers, NFTs for individual songs, memberships to dedicated fan clubs, digital versions of tickets to events…there are many ways NFTs can form part of a musician’s income stream. And the benefit of NFTs is that if the NFT owner decides to resell the NFT, the original artist gets a portion of the resale.
All of this has spawned new decentralized platforms like Opulous that allow artists to create and sell music NFTs without traditional middlemen. In other words, NFTs allow artists to find new ways to monetize their work and engage directly with their fans. But even traditional intermediaries such as record labels are getting into NFT practices. For example, Warner Music has partnered with NFT marketplace OpenSea to provide a platform for Warner artists to launch their own NFT collections.