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    Metaverse live concert to NFT labels — The modern face of music & music-tech

    Metaverse live concert to NFT labels — The modern face of music & music-tech

    Metaverse live concert to NFT labels — The modern face of music & music-tech
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    By Pawas Jain   IST (Updated)

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    A discussion on the revolution of the music industry cannot be complete without the mention of Metaverse. Live music concerts in the Metaverse have become the latest tech fad. Moreover, with Snoop Dogg recently turning Death Row Records into an NFT label, another tech trend seems to be penetrating its way into the so-called MusicTech.

    AI, Metaverse, Machine Learning - the new “cool” tech terms have become a part of our daily lives and dinner table conversations now. And interestingly, being somewhat of a musician myself, I can vouch for the fact that the music industry does not remain untouched by the impacts of such revolutionary technologies.
    As social media seeps into all aspects of our life and streaming services take over the world, the music industry has evolved in the past couple of years, as it had never done in the past. While the first major revolution in the music industry could easily be credited to iPods, the new age audio streaming services like Spotify and JioSaavn have changed the game completely.
    Interestingly, social media has become the make or break for an artist. While talent is always recognised and appreciated, algorithms have started playing an equally important role. How an artist publishes the music, the captions that they use, the hashtags, timings of their post and the ability to create content that gets made into ‘Reels’ - everything has become a part of the ‘algorithm’ powered music industry.
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    A discussion on the revolution of the music industry cannot be complete without the mention of Metaverse. Live music concerts in the Metaverse have become the latest tech fad. Also, it opens up immense unimaginable opportunities when the clothes of the artist’s avatar can practically change with every song and so on. Music concerts in the Metaverse have clearly become unquestionably possible with Travis Scott’s concert in the Fortune video game, which over 2 million people in their avatars showed up for!
    Moreover, with Snoop Dogg recently turning Death Row Records into an NFT label, another tech trend seems to be penetrating its way into the so-called MusicTech. The impact of Web3 on the Music industry is inevitable. Imagine the scenarios - while you can simply stream your favourite song on Spotify in the real world, with Web3 you can choose to buy an NFT of the track and all instrumental parts will algorithmically get selected, mixed, mastered and delivered to you in a uniquely generated album art. Interestingly, in this scenario, you also don’t have an idea of what 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 also need to look at the whole futuristic and social aspect of these technological revolutions. This internet-driven utopian world of music has placed direct attention on artist-to-fan and fan-to-fan engagement which is driven by experiences (such as Metaverse music concerts) and data algorithms (through subscription-based streaming services). It also has a high impact social media sharing aspect where people can almost communicate with music. Wearables like AirPods and low-cost data services have further enhanced the whole music experience for the millennial generation.
    However, in no way does this mean that the live (as in, the real world) music experiences are over. The last couple of months has shown that social media popularity has in fact accelerated the ticket sales and crowd cheering for young artists at live concerts. Furthermore, advanced hardware technologies and software solutions have made music production not only faster and simpler for young artists, but also far higher in quality than in older days.
    In all, the music industry is set to witness a shift. All of this is just the tip of an iceberg which is yet to be explored. Only a few tech entrepreneurs have looked at the music industry as yet and so much more is still waiting to be disrupted. Like all other domains, fortunately, or unfortunately, technology is set to take over. Whether you like it or not, it is time to embrace it. Like 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’
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