The Metaverse is here to stay and is poised to change the music industry forever. Thankfully, most of these changes are projected to put more power and earnings back into the hands of artists, allowing more musicians to express their creativity full-time.
However, this transition can feel confusing, especially for production purists. Luckily, there are plenty of ways to experience music within the Metaverse (it’s not just NFTs). Below, we’ll go over what you can expect from this transition in the industry and how you might get involved in the foreseeable future. Let’s dive in!
What Is The Metaverse?
The Metaverse isn’t one concrete place or concept. Rather, the Metaverse is made up of a wide variety of platforms and experiences designed to immerse people in a more interactive experience utilizing digital goods and services. The concept of the Metaverse has emerged largely around the development of Web3.
This new age of the internet is largely focused around decentralizing power and allowing users to create their own spaces for content and funding their careers. The Metaverse is a space for all creators, musicians included, to build a more lasting digital connection with their fans.
How Could the Metaverse Shift the Music Industry?
In the past, musicians would have to rely heavily on in-person events like tours, brand sponsorships, and artist meetups. Since artists don’t make a lot of money from royalties alone (especially when labels or distributors use a percentage to recoup funding and earn), it’s incredibly difficult for emerging artists to transform into stable full-time creators.
By providing new monetizable opportunities to just about any artist, the music industry will open up the door to full-time creation for any artist who can cultivate a dedicated fanbase. This new, digitally-focused, creator-powered landscape could conceivably usher in a whole new wave of artists and creators and serve as the backbone for the new music industry.
7 Ways the Metaverse Is Disrupting the Music Industry
So, how is the music industry being shifted by the Metaverse? Here are a couple of ways that the Metaverse is already pivoting the way we consume and monetize music:
1. VR Concerts
Virtual reality concerts are becoming all the more common, presenting artists with new global stages that they can access from their home base. Even legacy artists like ABBA are able to provide a convincing set without stepping onto an actual stage:
2. In-Game Events
Whether it’s Fortnite concerts from A-list musicians or Roblox’s Spotify Island, it’s clear that gaming platforms are investing in creating spaces for musicians. Artists can provide new experiences for fans without having to build their own infrastructure and potentially reach a new demographic through the gaming community.
3. Virtual Merch
The Metaverse is opening up new merch markets on gaming and virtual reality platforms. Artists can now create custom avatars or virtual merch for fans. This low-lift opportunity provides artists with an easy way to contribute to the fan experience while creating a new stream of income.
NFTs allow artists to transform any part of the creative process into a monetizable digital art piece. Artists can earn direct monetization for their works without needing the support of a middleman or label. So long as you have a dedicated fanbase, just about any artist can start reaping the benefits of NFTs.
5. Music AR Games
Augmented reality games like Beat Saber encourage gamers to interact with music in a whole new way. By crossing over the music and gaming markets, musicians can find additional revenue streams while providing their fans with fresh experiences. Fans are able to interact with music while playing a game and artists can earn from licensing their creations to AR spaces.
6. VR Powered Set Design
Technology emerging from the Metaverse doesn’t have to be used exclusively in a digital space. VR tools can help artists with performance or even set design. Check out these VR-powered visuals:
Having these premade tools can make it easier for artists to move from one city to the next and tour without having to compromise their vision of the experience.
7. Avatar-Powered Artists
Oftentimes, becoming a profitable musician comes with a degree of fame and self-disclosure. While some artists relish in this extra attention, many wouldn’t make the sacrifice of privacy if they didn’t have to.
The Metaverse makes it possible for you to be a fully digital artist behind an avatar, allowing you to separate your personal life from your music career, should you have the desire. Early examples include artists like the CGI-Generated Miquela:
Artists adapting to the evolving rules of the Metaverse can find new avenues to connect with fans and possibly even new streams of income to fuel their art. We hope this guide makes it easier for you to find your unique space within the Metaverse!
About the Writer
Kate Brunotts is an audio engineer and music producer from New York City. When she’s not writing about music, producing music, or singing and songwriting, Kate helps others realize their unique sound, whether through a fresh mix, new instrumental approach, or total rework of a particular sound.