Cypher
BlockchainCryptocurrency DerivativesCryptocurrency RegulationMetaverseNewsNFTWeb3

Metaverse Brings New Problems And Opportunities To Music Licensing – Report

As the metaverse and Web3 gain popularity, musicians and songwriters are curious about how music licensing will be handled in this novel realm. The word “metaverse” is becoming ubiquitous, but few understand its significance, as it is still an evolving concept that is challenging to explain even to those unfamiliar with Web3.

Nevertheless, the metaverse can transform the internet and how people live, play, and work. It is a pioneering field of creativity and innovation, focusing on media, including music.

This is evident by the prevalence of music-sharing social platforms and music integration into other digital platforms. However, this has exposed the inadequacy of some current licensing systems in keeping up with the rapid pace of technological advancement, emphasizing the need for modernization.

The advent of the metaverse and Web3 has opened up new avenues for music creation and consumption, necessitating overhauling the sector’s current licensing system. Web3 innovations such as NFTs have transformed the music industry, prompting a reevaluation of the traditional approach to music licensing. 

Cypher

Also, the metaverse has proven to be a fertile ground for music, with numerous renowned musicians staging concerts in the ecosystem and many artists exploring the possibilities of NFTs for music releases. Despite the constantly evolving nature of Web3, music licensing within the metaverse has immense potential, and its significance cannot be overstated.

📰 Also read:  How to Buy Bitcoin (BTC) in Dubai - A Complete Beginner's Guide

As the metaverse continues to expand and influence how people interact with the internet, music licensing policies must adapt to meet the new reality of this innovative space.

Current Music Licensing Challenges In The Metaverse

Despite numerous experiments within the metaverse, music licensing remains underdeveloped. It needs the clear standards and regulations required for a stable licensing environment, unlike social media apps in Web2, which have established guidelines for licensing.

Spottie Wifi, a Web3 advocate and famous musician, discussed the current state of music licensing within the metaverse in a recent interview. According to him, there is a need for a different licensing framework for the metaverse, as it differs from traditional licensing.

According to Spottie Wifi, a metaverse’s music license must explicitly state the metaverse as the primary distribution channel within the license scope, or the license should have a broad scope that covers it. However, licensing music in Web3, particularly regarding digital collectibles, presents challenges that do not exist in Web2.

For example, Spottie Wifi created a concept album about the metaverse life in 2021. He sold it as an NFT, allowing the NFT holders to commercialize and use the music while he retained ownership of his publishing and masters.

📰 Also read:  Nokia Projects Increase in Network Demand Citing Development on Metaverse 

However, the complexity of enforcing IP — intellectual property rights in the metaverse adds to the challenge of ensuring the non-exploitation of musicians’ works and underscores the need for a more comprehensive licensing system.


Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  Sam Fried Pleads for Softer Sentence, Hints Recovering FTX Funds

Cypher

Bradley Nelson

Bradley Nelson is a US based cryptocurrency news writer for Tokenhell, he helps readers stay up to date with the latest trends and news from the blockchain and crypto world. Bradley has been a crypto enthusiast since 2018.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content