How Decentralization Is Creeping Into Music

$LYV $SIRI $SPOT $AAPL $GOOGL (especially youtube) $FB $MSFT $SNAP $TCEHY and all the other megalithic corporations thinking they have a chance to define the Metaverse and artistic endeavours against a defi-decentalized NFT supported pool of talent which cuts out the middle man are clueless as to what is happening right under their noses. $MSFT might have a chance by tapping into gaming where concerts are happening already and tokens buy you new skins, concert tickets, music. We’ll have to see how the private chatrooms in gaming rooms under the $MSFT brand will develop:…

During the past year, decentralized technologies have been seeping into music. Non-fungibles, for one, are increasingly seen as a novel way of distributing audio and video content. At the same time, blockchain technology opens new potential for protecting and exchanging digital property rights.

For artists, especially emerging talents, NFTs represent a viable new way of raising funds. Modern NFT platforms specializing in different aspects of music production, from funding to distribution, help them reach their audience, raise funds for their next tracks, and put the music out there for their fans to enjoy. Fans, in their turn, get a chance to support their favorite artists and experience material and emotive rewards.

The latter is most in tune with the very spirit of music fanship: NFTs find a cozy nook in our mental libraries of emotions, memories, affiliations, and ‘that-itches.’ Eric Elliot with says in his article, ‘we’re not buying JPGs. We’re buying membership, identity, status, and a sense of ownership. And it’s addictive AF.’ According to the metaverse advocates, the new virtual worlds are bound to create an even more immersive – and addictive – experience.

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I have mentioned the Travis Scott Metaverse concert with 12.3 million fans about a half-dozen times on Motley Fool boards. Not one soul has bit on the implications. Except for BourbonandCandy.…

A great part of enjoying music is forming connections with your favorite artists and other fans: millions have been hungry for during the last two years of the pandemic. We all want to belong and share experiences. This is the reason why we collect merchandise, go to concerts or festivals, hunt for autographs, and join meet-and-greet events. Metaverse is all about the community, as well: we do need allies and opponents to enjoy play-to-earn games truly, we want others to appreciate our NFT collections, and so on.

The first cases from the metaverse are jaw-dropping. Amelia Kallman shares amazing stats: ‘watching Travis Scott live in Fortnite…, was not one big group of 12.3 million people, but instead, the concerts were made up of 50 people each.’ Thus, ‘essentially, there wasn’t one concert, but 250,000 co-occurring.’ This fosters much more engagement than lockdown-induced YouTube videos of a show performed in an empty venue, right?

And talking about merchandise, what concert-goer doesn’t love those amazing merch cannons? Lil Nas X has pioneered the way with his Roblox concert, distributing the ‘merchandise that far outpaced their initial expectations, citing an eight-figure rate,’ as The Guardian reports. ‘Limits are non-existent in the metaverse,’ claims Jon Vlassopulos, global head of music of video game developer Roblox.