Metaverse is turning into a spot for extra manufacturers, companies and communities to attach. A December 2022 examine discovered that 69% of customers imagine metaversion leisure will rework social life.
Recently, the legacy Woodstock Music and Arts Festival, generally known as the most well-known of the Sixties rock festivals, introduced that it’ll reinvent itself as a digital world in partnership with metaverse builders Sequin AR.
Festivals are nothing new in the metaverse. As digital life has turn into extra distinguished over the years, we have seen digital homosexual parades, country-specific cultural occasions, and metaverse trend weeks.
Woodstock is constructing its personal digital area, the immense legacy of the bodily pageant is preserved and reinvented for brand new generations. Cointelegraph spoke with the Woodstock workforce and Sequin AR CEO Robert DeFranco to grasp how legacy occasions are navigating the digital renaissance.
Jennifer Roberts, a accomplice at Woodstock Ventures, recalled how the authentic pageant in 1969 “defied so many expectations” by uniting half 1,000,000 folks round peace, music and artwork. Now the metaverse permits a really world viewers to expertise the legacy of the festivals.
“We imagine that right this moment’s Woodstock technology is united not by the time they have been born into, however by a shared worth system of peace, creativity and compassion. »
Roberts referred to as the metaverse “a democratization experiment” the place, regardless of bodily circumstances, folks can come collectively to have fun what they imagine in.
Connectivity is an enormous driver for manufacturers and firms to enter the metaverse. With greater than 90% of shoppers in the metaverse, the alternatives to create connections on a world scale solely enhance.
However, similar to in actual life, organizing a symbolic pageant for 1000’s of individuals is an enormous process with many issues.
DeFranco stated the aim of such initiatives is to not change however to enhance what is accessible in bodily actuality and the legacy of the occasion.
“There’s nothing like a stay present. The intent is to have a group to have interaction with and an expertise that you will get pleasure from when you possibly can’t be at a stay present.”
Roberts stated that as he prepares to create this digital addition, anticipating new wants for artists, audiences and even music genres is a brand new problem. He additionally stated that one shouldn’t neglect to depart room for probability in the course of.
“The magic of the authentic pageant was one thing that got here from the alchemy of various parts coming collectively. We imagine that can occur right here as nicely, though in a manner that we can’t predict.”
From impartial artists to iconic pop stars, the music trade has been very energetic in adopting Web3 applied sciences.
Major labels corresponding to Warner Music have been notably energetic in bringing performances to digital actuality, saying their Web3 platform centered round Polygon-created music.
Roberts says that in terms of heritage, nonetheless, it isn’t nearly retaining the previous alive, it is also about seeking to the future.
“It’s not about fixing the previous, it is about participating new audiences and writing the subsequent chapters of historical past.”
Over the subsequent seven years, in keeping with current stories, the metaverse is predicted to generate $5 trillion in market worth.