🤖 My Favourite Artist Is An Avatar
Are Avatars Taking Over The Music Industry? Big Investments Happening In The Metaverse! And: Opportunities, Industry News
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🤖 Avatars Are Taking Over Popular Music
Earlier this week, my eyes caught an article that seemed curious at first: UMG partnering with a Web 3.0 startup called ‘Genies’, which specializes in creating virtual avatars. The move was motivated by a general effort to expand the label’s activities and artists in the metaverse, aiming at growing fanbases and augmenting monetization.
I was aware of how the so-called ‘Web 3.0’ was disrupting the music industry, but somehow it all felt very distant and circumscribed. A quick search revealed instead a much larger, shifting technological landscape, where music was at the forefront of innovation.
There are two key concepts here (or three, if you will): The ‘Metaverse’, a 3D virtual world, a network facilitating digital social interactions; and ‘Avatar’, a digitalized version of either a real human being or a made-up character. Avatars are often contained in an NFT (in layman’s terms: a certificate that proves a certain file belongs to you). Being the owner of an NFT also gives you commercial rights to said file.
The idea of Avatars-based groups or artists is nothing new, of course, we all remember Gorillaz, for instance: what changed is their use in the metaverse.
Artists can connect to their fanbases in a unique way, empowering their virtual brand and providing an alternate source of revenue to real-life activities. This is true both in the case of made-up avatars and a digital version of an actual human.
Low-cost virtual touring, making it possible to sell tickets for shows in the metaverse, reaching a much wider fanbase than an even a world tour ever could. (something like this, but also something like this).
Given that all of the above is still an under-developed market, early adopters are the ones that will likely get the most financial benefits in the long run. That’s why major record labels are turning a very attentive eye to the metaverse ecosystem:
KINGSHIP: backed by UMG subsidiary 10:22 PM and NFTs collector Bored Ape Yacht Club, it’s a 4-piece pop group made up of apes and monkeys-shaped avatars, plus the recent addition of a virtual manager avatar.
Whet Records: A pan-Asian dance label owned by Warner Music that recently signed Chinese virtual idol HAJIANG.
As mentioned above, Genies, an ‘avatar ecosystem tool’ (here’s Ashnikko’s digital avatar)
We (as a blog) even featured avatars pretty recently (Maie comes to mind), a sign that it is indeed possible to grow avatars’ projects from the ground up treating them as if they were up-and-coming artists.
Would you like to be immortal in the metaverse? Don’t wait until it’s too late!
📀 8 tips on how to get into writing soundtracks by Marina Elderton
Having written music for Sky Arts, BFI and others, the award-winning composer, producer and songwriter has some tips to share.
🎸 Share your artistic journey with the community!
Send us pics, audio bites or short videos from your experience navigating the music scene… we’ll pick the best submissions and share them with our community! Our goal is to inspire each other. (gabriel@weareymx.com)
🎙 Upcoming gigs
We’ll be at the Finsbury on May 8th for our monthly showcase, line-up to be announced soon…
📻 Keen on trying your hands on a podcast or a radio show?
Our online radio platform AFX Radio is looking for podcast presenters and playlist curators! No experience required, just willingness to learn and explore the medium. If interested please contact ymx4you@gmail.com.
🌳 Radio Show Interviews
Every Saturday afternoon we are running our own radio show on Caffe’ Latino Radio, where we interview up-and-coming artists, host solo live sessions, or just chatting over coffee. Our host Giack Bazz is keen to speak to you so get in touch! (hey@weareymx.com)
Industry News You Should Care About
Will Amazon Lead The Way Of Streaming Music Price Hikes? (Bobby Owsinsky)
Are streaming services gearing up for a subscription price change?
Digital audio now the fastest-growing form of advertising (MBW)
We are in the right business, eh? :)
UK charity Youth Music launches two new funds with £8.9m (Music Ally)
For whoever might need it.
Spotify rebrands Greenroom with Swedish House Mafia party (Music Ally)
Clubhouse-style functionality now arriving in the main Spotify App (after being put in a separate app called Greenroom).
Submit your music to us
A reminder that you can submit music to us here