Astroworld

Concerts in the Metaverse are a huge success. It all started with the Marshmello concert held in Fortnite in February of 2019. It was the first interactive concert to take place in Fortnite, and the first of its kind within the Metaverse.

Metaverse is a virtual world created using VR, AR, and other technologies in which people can play games, work, or even attend a live concert. After the huge hit of the Marshmello show, rapper Travis Scott announced his concert in the metaverse. These concerts are extremely profitable. Artists can sell both physical merchandises as well as virtual ones, like skins, emotes.

This makes the entire concert a huge success. The revenue generated from the Fortnite association of Travis Scott, including merch sales is around $20 Million which is a considerable amount, considering that the Astroworld tour generated nearly $53 Million. In the concert itself, the entire island was turned into a stage and Scott was seen performing his music in a giant avatar form. Which teleported from one part of the island to the other.

The visuals changed and morphed with the tracks. Scott even turned into a cyborg at one point. Unlike other concerts, the Travis Scott concert is one of five. So if you by any chance have missed the first one. Don’t worry there will be more of them.

In August of 2021, Ariana Grande also hosted a Fortnite concert and is said to have generated almost the same amount of revenue as Travis Scott. Recently, Justin Bieber has partnered with a virtual entertainment company called Wave, to host live concerts.

Bieber has recently said:

“I am a big believer in Wave and love the platform as a new way for me to engage with my fans,”

He is also an investor in Wave.

Around 10 Million attendees were present at the Travis Scott concert in Fortnite. And this number is expected to increase as the metaverse gets more popular. Celebrities like Post Malone have also announced his concert with Pokemon.

This revolution in the concert business has huge potential, as it is not restricted to a geographical boundary. People from the other side of the planet can attend the concert too. The virtual merchandise sold is usually inexpensive and thus more people will be willing to buy them.

Epic Games CEO Tim Sweeney recently said:

“Engaging in community content in these virtual worlds created by other people is the primary experience,”

Epic games have really worked hard to give an overwhelming experience to their users. The statement made by Sweeney clearly suggests Epic’s intention of growing Fortnite more like a virtual world than a concert. The concerts will keep getting better and its revenue might even outperform the Astroworld tour soon. This is really a great opportunity for performers to get in the metaverse and increase their revenue.

Metaverse concerts are a great way to encourage people to enter this virtual world, once they are in the metaverse they will start doing other things too, like gaming, meditation, etc., and become a part of this growing community.

Facebook, now Meta CEO, Mark Zuckerberg has recently said “I DON’T THINK THAT THIS IS PRIMARILY ABOUT BEING ENGAGED WITH THE INTERNET MORE. I THINK IT’S ABOUT BEING ENGAGED MORE NATURALLY.”

This will allow not only celebrities but also, independent content creators like YouTubers to host and perform live shows. Metaverse podcasts, for example, can be a really surreal experience for the listeners. Charity events can also be held which will benefit the real world. Companies like Apple, Facebook, Google, and others are very bullish on the idea and growth of this technology.