Decentraland Music Festival Shows Web3’s Influence on the Music Industry

Decentraland, the Ethereum-based metaverse platform has announcement the 2022 Metaverse Music Festival, an event based on the Metaverse that will feature performances by artists from multiple genres.

The first Metaverse Music Festival was held in October last year and attracted over 50,000 visitors in four days. This event brought together 80 artists including deadmau5, 3LAU among others.

More artists, more adoption

This year’s Metaverse Music Festival, sponsored by crypto exchange Kraken, will be held next month, November 10-13, with 100 artists including Soulja Boy, Ozzy Osbourne, Dillion Francis.

According Decentralized, the festival will take place in an “otherworldly cyberpunk landscape” with 15 uniquely designed stages. The event does not require a VR headset and is free for everyone.

“Decentraland dubs the music in the metaverse. MVMF will showcase the latest metaverse technology that offers listeners truly unique experiences only available through a virtual world. the Press release Lily.

Web3 enters the music industry

Virtual performances are becoming popular among big names in the music industry. Jason Derulo, Eminem, Snoop Dogg have all embraced performances in the Metaverse, leading to the creation of a new award category by MTV VMAsthe best metaverse performance.

Sony Music Entertainment deposit NFT-related trademark applications earlier this year in August, indicating a pivot to Web3.

The music giant was previously involved in an NFT collection featuring Bob Dylan and Miles Davis, which was published in partnership with fellow music label Universal Music Group.

The Controversy Over Decentraland’s Userbase

Decentraland was in the new last week after a Twitter user pointed out the surprisingly low number of daily active users on the platform. A screenshot of the DappRadar-derived metric showed just 30 daily active users on Decentraland.

Decentraland then provided specific numbers regarding its user base, which showed more than 50,000 monthly active users.

DappRadar has since changed its analytics and the last digits show 655 active users in the last 24 hours.

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