The Metaverse: A New Frontier for Artists
Written by IBIZA LIVE RADIO on June 2, 2022
Introduction to the metaverse and what it means for artists
The metaverse is a new, virtual world that artists can use to express themselves and connect with their fans. It’s a place where the rules of society can be reconfigured, and people can achieve financial freedom through collaboration instead than competition.
WEB3.0 & Metaverse: the future of the music industry?
PIXELYNX is a company that is working to make the Metaverse a reality.
They are building software that will allow people to create, buy, and sell virtual assets and experiences.
Building a global network of artists, visionaries and startups that are passionate about re-imagining how the music industry evolves through Web 3.0 and the metaverse.
“The Metaverse is a new canvas for artists to express themselves and create new formats to connect with their fans,” says Pixelynx CEO Inder Phull. “It’s a place to reconfigure the rules of society and create financial freedom – through collaboration rather than competition.”
Guest speakers at the event and their thoughts on the Metaverse
The IMS Ibiza Summit was an important event for the Metaverse community. It was a chance to network and learn from each other. With WEB3 & Metaverse Day in partnership with RCRDSHP, SENSORIUM, EQ EXCHANGE, CELO & PIXELYNX leading the way, the Metaverse is sure to become a reality sooner than later.
Some of the brightest minds in the Web3 space attended the IMS Ibiza Summit main stage, where PIXELYNX delivered a seven-hour programme featuring guest speakers representing the Metaverse.
PIXELYNX delivered a seven-hour programme featuring guest speakers representing Audius, Coachella, EQ Exchange, Friends With Benefits, MODA DAO, The Sandbox, Serenade, Seven20, Volta-XR, and more. Additional perspectives coming from artists including deadmau5, Richie Hawtin, Blond:ish, and Portrait XO.
Technology like NFTs and the metaverse could be the way to bridge the gap between the revenues from the music industry and gaming biz.
“We can use a game engine to build a 3D spatial world from the elements of a festival,” says Experience Volta’s Alex Kane.
“We walked the team from Fortnite through this year’s Coachella to explore how to recreate the experience in a virtual world“ Sam Schoonover (Coachella).
The challenges and opportunities of building a music metaverse
The day also came with a cautionary warning, as with any new technology, there are challenges.
With DJ duo Blond_ish also continuing on the pressure of delivering benefits to fans “Mental health is a big thing in the NFT world. Token holders expect a lot from you. It can be a lot of pressure. there’s still only 24 hours in the day”.
Experts also aided patrons in creating a crypto wallet to help them register to receive a PIXELYNX POAP. A POAP (Proof Of Attendance Protocol) is a digital badge earned through engagement. A POAP represents a different kind of NFT, as these badges can only be earned by attending an event or purchased later in the secondary market.
Could the Metaverse be the future of the music industry
Technology like NFTs and the metaverse could be the way to bridge the gap between the revenues from the music industry and gaming biz. The Metaverse offers a new, virtual world that artists can use to express themselves and connect with their fans. It’s a place where the rules of society can be reconfigured, and people can achieve financial freedom through collaboration instead than competition. The challenges and opportunities of building a music metaverse are many, but with the right team and approach, the metaverse could be a game-changer for the music industry.
Guest speakers at the event included representatives from the Metaverse, who spoke about the potential of the new virtual world. They highlighted the fact that the Metaverse offers a unique opportunity for artists to connect with their fans and create new revenue streams. They also discussed the challenges of building a music metaverse, including the need to build a community of users and to create compelling content.
‘Web3 is a paradigm shift that can fix so many of the problems we face in the music industry’ says IMS Ibiza Ben Turner. ‘But if it’s going to work we need mass adoption from the industry’.
Web3.0 & Metaverse: the future of the music industry?
What do you think? Could the Metaverse be the future of the music industry? Share your thoughts in the comments at Our Social Network Media!
Check it here, video snippets from the IMS 2022!