$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 Greenruhm.com 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.