Music is getting a tech twist as it enters the metaverse and it promises to be a win-win for both the musicians and their fans.
Music in the metaverse is like grooving with your favorite musician in real time and experiencing music socially. After all, social media has become an intrinsic part of modern-day life so why leave music behind? We decode the trend by speaking to experts.
Music in the metaverse is more immersive, unlike regular stereo sounds as there is Spatial Audio (3Dmiensional Audio) in metaverse experiences where sound changes as the user moves and feels like one is having a live experience.
Musicians can make more money on NFT marketplaces than on traditional streaming services. Streaming services have just one form of engagement through listens, and chat but in these metaverse experiences musicians can sell full or fractional ownership of music and make money.
The crypto space is still nascent and evolving. The base technology has proven its capability, but a volatility in price, rational behavior and stability of tech still needs to be solved for. For the larger artist community, it is important to learn about the space and understand how it works, to avoid being fleeced.
As per a report by a community platform NFT Club, India ranks third in the number of NFT companies owned by a country in the world.
Read the full story that first appeared in Music Plus here: