Metaverse entertainment: virtual concerts, NFTs, and brand experiences reshape pop culture

A new entertainment model, referred to as 3.0, is emerging as companies combine immersive storytelling, technology, and creativity, benefiting both creators and brand marketing. In October 2021, Decentraland held its inaugural large-scale Metaverse Festival, drawing in 50,000 virtual attendees and issuing over 51,000 NFT attendance certificates. Notable performances occurred on Fortnite, featuring artists such as Marshmello, Ariana Grande, and Travis Scott, the latter generating $20 million in merchandise sales. Somnium Space unveiled holograms for live shows, while Roblox collaborated with Sony Music to feature artists like Zara Larsson and Achille Lauro. NFTs could soon act as film tickets. Additionally, The Walking Dead Zombie Experience debuted on The Sandbox, and Netflix partnered with the Brooklyn Museum for a virtual exhibition. The decentralized blockchain empowers artists to circumvent traditional systems, boosting brand value and revenue.