Six decades after the Grammy awards came on screen, things are shaking again, but this time it’s the entrance into the metaverse.
Starting today, Grammy Week is featuring several preview events after the April 3rd awards on Roblox. The recording academy wants to host the event in hope of reaching the younger audience and engaging with them. Virtual meet-and-greets will be held along with virtual performances and a photo booth.
The co-president of the Recording academy states that they wanted to partner with Roblox to reach out to wider audiences to share the musical experience.
This seems to be a very exciting time for being in the industry as the opportunity for the
Academy to meet the audience is there as well as becoming the creator’s lead advocate.
The music industry had been a successful early adopter of the Metaverse, holding a concert with 10 million people last week.
While the idea of virtual worlds remains low, some have had great audiences ranging from young users to young adults. Roblox has seen rapid growth recently with monthly active users of around 200 million.
While Grammy and Roblox had collaborated for six months, MasterCard decided to bring it to light. This is a major activation mark for financial service companies in a virtual setting.
While Web3 is still a beginner, the Mastercard marketing officer sees the potential for a great jump.
Grammys will be the first major event of Roblox where people can try the layered clothes, giving people much more realistic items for their avatars. It will also help with adding new demographics.
However, experts still suggest that there may be a gap between the way consumers and companies think about the metaverse. Not many seem to be excited.
Similar to e-commerce and the internet, brands should prepare for these technologies while maintaining expectations.
Aside from the virtual worlds, MasterCard and the Recording Academy have started experimenting with Web3 zeitgeist’s part, NFTs. NFT’s first collection was released by the recording academy earlier in the month. MasterCard had also declared its partnership with Coinbase, the crypto exchange for letting people buy NFTs using credit cards. MasterCard expanded to include NFTs and crypto in their consulting services in February.
There is hope that people’s income will depend on these platforms in the future.
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