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Unlike a 2D flat screen, the music industry in the metaverse is absolutely immersive

Unlike a 2D flat screen, the music industry in the metaverse is absolutely immersive

Once the metaverse can fully leverage 5G technology, the present music industry, according to one industry attorney, will look as antiquated as a cassette tape.

Aarash Darroodi, executive vice president and general counsel of Fender Musical Instrument says that it is too early to forecast the future of music in the metaverse owing to present hardware restrictions. However, he anticipates significant changes if programmers can fully use 5G bandwidth on devices that are less costly, quicker, and smaller. T-Mobile has compared the speed of 5G wireless technology to that of a rocket compared to that of a 4G scooter or a 3G bicycle.

“Although carriers provide 5G, the true capabilities have not been unleashed yet, the absolute superfast speeds,” said Darroodi.

Darroodi thinks that the software is now behind but will shortly catch up. Hardware is responsible for the issue. Unfortunately, no one has yet developed a virtual reality or augmented reality gadget that is both practical and comfortable enough to deliver a fully immersive digital experience. He stated, “It’s not there yet.”

According to Darroodi, the eventual VR gear form factor will be glasses. He argues that cooperating with a well-known apparel manufacturer might expedite the approval process. He said, “If you can make it a fashion statement, the broader population will embrace it far more quickly than only techies.”

Darroodi defines the metaverse as a completely immersive 3D experience, in comparison to the conventional 2D flat-screen internet. It will alter the processes of music creation, distribution, and enjoyment. The habit of exchanging music, however, remains. Darroodi thinks it is the “next stage of integrating mankind.”

People have always gathered to exchange and learn from one another’s experiences. Since the hearth is a popular meeting spot, many homes continue to include fireplaces even if they are not necessary for heating.

Such experiences will be enhanced by the metaverse. For example, Live Nation’s subsidiary Ticketmaster recently paused sales for Taylor Swift’s “The Eras Tour” after a technological issue left many Swifties without tickets.

The excitement of watching a live concert cannot be replicated in the metaverse, but it can be in a 360-degree immersive setting, according to Darroodi.

Darroodi suggests that this will “democratize the experience” by making it accessible to individuals who would not otherwise have the means. According to him, live concert organizers will soon enter the digital world and deliver innovative experiences that will surpass those of the past. Metaverse news provides you with the latest information on the world of music and concerts in the Metaverse world

Metaverse concerts

Enders Analysis of London reports that live music generated $28 billion before the 2019 influenza pandemic, far more than recorded music’s $20 billion and music publishing’s combined $6 billion.

In August 2021, Fortnite, a video gaming platform owned by Tencent Holdings, featured a metaverse concert by Ariana Grande.

A significant number of musicians and entertainers arrived. In March 2022, both rapper Travis Scott and his former partner Grimes participated in Metaverse Fashion Week.

According to Enders Analysis, despite 28 million individuals witnessing Scott’s Fortnite performance, just 700,000 paid to attend his event. However, his live tour garnered $54 million in ticket sales, while his metaverse show made $20 million in product sales.

NFTs

He states that entry fees, in-game product advertising, and the sale of non-fungible tokens are all methods by which metaverse concerts might be made viable. In addition to attending a live event, it is “exciting” to be able to purchase online in “real-time.”

Also utilizing NFTs to increase revenues in the music business. They are offering tokenized copies of their music, artwork, and/or packages for sale. OpenSea, one of the earliest and largest NFT marketplaces, offers several artists, including Snoop Dogg, Shawn Mendes, 3LAU, Deadmau5, Grimes, and Steve Aoki. According to Water & Music, in 2021, Open Sea NFT music sales made $86 million.

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About Daniel P.

Unlike a 2D flat screen, the music industry in the metaverse is absolutely immersiveDaniel is a Web content creator and technical writer who loves talking about Web3, NFTs and other blockchain-related topic and news.

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