Technology / 02.02.22

The Metaverse Will Change the Live Music Experience, but Will It Be Decentralized?

Access Staff

Cointelegraph (01/29/22) Kay, Aleks

Unpaired co-founder Aleks Kay writes that virtualizing live music events and bringing them into the so-called Metaverse could supercharge the industry's rebound from the pandemic. Privacy-minded advocates would prefer a platform whose control is decentralized, while Kay contends that, "In a way, the Metaverse is already here. Artists like Justin Bieber, DeadMau5 and The Weeknd have all played virtual concerts in recent months. And, although some of these events stretched the definition of metaverse somewhat — less of a VR-fueled immersive experience and more of a 2020s version of Habbo Hotel — it's clear the key ingredients are there for a fundamental shift in how we think about live music." The Metaverse offers exciting potential for small acts, by enabling them to hold virtual gigs "where fans from across the globe can congregate regardless of locality." Kay also cites decentralized autonomous organizations (DAOs), noting that "a music-focused DAO could, for instance, bulk-buy concert tickets, fund and curate events such as gigs and festivals including those in the digital realm, as well as purchase investable commodities such as first-edition LPs, artwork and instruments, while even functioning as fan-owned record labels and promotion outfits." In conclusion, Kay speculates that "the Metaverse can ... create a live music culture where the possibilities have never been more exciting and more open. Most importantly, it could be a future where no one person will be in control. We all could be."

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Tags: Music , Live-Streaming , News , Virtual