Billboard explains big tech's new focus on the future of online social engagement and how that will give music a whole new space to operate – and monetize.
as Meta in late October it got people talking in and out of tech. The new name plants a flag referencing the “metaverse” and with it the company pledged $10 billion this year to lay the foundation for the online ecosystem widely seen as the future of digital social connectivity.
In the simplest terms, the metaverse is the next version of the internet, one in which we will be able to virtually interact with friends and coworkers across the globe, seemingly face to face. It’s a big idea that, at this point, is all theoretical, and, despite the hype, little of it actually exists yet. But if you’ve seen Ready Player One or similar science fiction movies, you’re headed in the right direction.
Want to see that Rolling Stones show in Rio De Janeiro? Avoid the flight and purchase virtual front row seats that you can experience from your couch in 8K resolution with Spatial Audio. Can’t make it to Thanksgiving dinner? Pop in as a life-sized hologram in the real world and make an appearance.These are all possibilities in the metaverse.The use-cases for the music industry are numerous. Music will be streamed and concerts will be viewed, offering traditional revenue streams a new ecosystem to monetize. You may have a virtual home in the metaverse, which will need to be decorated -- a likely profitable sector for the burgeoning NFT market. .
The world’s trillion-dollar corporations are heavily investing in the metaverse, hoping to claim a stake for themselves in what likely will be the future of the internet. Microsoft isof the metaverse, building versions of key products like Microsoft Teams and Office for virtual spaces . Apple is developing both a mixed reality headset and a pair of AR glasses, according to
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