Metaverse Live Concert for Nft Labels – The Modern Face Of Music & Music-Tech
AI, Metaverse, Machine Learning – the new “cool” technical terms have become part of our everyday and dinner table conversations now. And interestingly enough, as a bit of a musician myself, I can vouch for the fact that the music industry does not remain untouched by the effects of such revolutionary technologies.
As social media seeps into every aspect of our lives and streaming services take over the world, the music industry has evolved over the last couple of years, as it had never done before. While the first major revolution in the music industry could easily be credited to iPods, modern-day audio streaming services such as Spotify and JioSaavn have completely changed the game.
Interestingly, social media has become a make or break for an artist. While talent is always recognized and valued, algorithms have begun to play an equally important role. How an artist publishes the music, the captions they use, the hashtags, the timing of their post and the ability to create content that is made into “Reels” – everything has become part of the “algorithm driven” music industry.
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A discussion about the revolution in the music industry can not be complete without a mention of Metaverse. Live music concerts in Metaverse have become the latest technological fad. Moreover, it opens up enormous unimaginable possibilities when the clothes of the artist’s avatar can be changed with practically every song and so on. Music concerts in Metaverse have clearly become undoubtedly possible with Travis Scott’s concert in the Fortune video game, for which over 2 million people in their avatars showed up!
Also, with Snoop Dogg recently turning Death Row Records into an NFT label, it seems that another technological trend is penetrating the so-called MusicTech. The impact of Web3 on the music industry is inevitable. Imagine the scenarios – while you can simply stream your favorite song on Spotify in the real world, with Web3 you can choose to buy an NFT of the track, and all the instrumental parts will be algorithmically selected, mixed, mastered and delivered to you in a unique generated album art. Interestingly enough, in this scenario you also have no idea which version of the song you end up with and get something completely unique. In common Web 3.0 language this is known as ‘Blind Minting’
We must also look at the whole futuristic and social aspect of these technological revolutions. This internet-driven utopian music world has drawn direct attention to artist-to-fan and fan-to-fan engagement driven by experiences (like Metaverse music concerts) and computer algorithms (through subscription-based streaming services). It also has a huge impact on social media sharing, where people can almost communicate with music. Portable devices such as AirPods and affordable computing services have further enhanced the entire music experience for the millennial generation.
However, this in no way means that the music experiences live (as in the real world) are over. The last couple of months have shown that the popularity of social media has actually accelerated ticket sales and audiences cheering on young artists at live concerts. Furthermore, advanced hardware technologies and software solutions have made music production not only faster and easier for young artists, but also far higher in quality than in older days.
All in all, the music industry will be witnessing a shift. All this is just the tip of the iceberg that has yet to be explored. Only a few technological entrepreneurs have looked at the music industry yet, and so much more is still waiting to be disrupted. Like all other domains, fortunately, or unfortunately, technology will take over. Whether you like it or not, it’s time to embrace it. As it was said in the famous song “Computer Love” –
“Need a special girl
To share in my computer world
I no longer need a strategy
Thanks to modern technology ‘
(Edited by : Priyanka Deshpande)
