The Surge of Virtual Concerts and Live Video Streaming in Metaverse

Posted By : Priyansha Singh | 15-Apr-2022

 

Virtual Concerts and Live Video Streaming in Metaverse

 

The COVID-19 pandemic has pushed the media and entertainment sector to experiment seriously with live video streaming and music concerts in the metaverse. As everyday lives are increasingly shifting towards digital spaces, companies are taking advantage of users’ enthusiasm for virtual concerts and real-time streams, introducing them to the concept of the interoperable, interconnected, and highly-accessible digital realm – the metaverse. 

 

While the entire world is opening back to new technological innovations, people are starting to go back to and embrace in-person events. Artists such as Bruno Mars, Garth Brooks, Justin Bieber, Dua Lipa, Travis Scott, and Post Malone are all examples of global artists who openly experimented with virtual live video concerts. 

 

In this blog, we will understand why the emergence of metaverse solutions is causing tectonic shifts in the media & streaming industry and why live video streaming and virtual concerts are on the continual rise in the multiverse. 


Live concert and video streaming in metaverse
 

Hybrid Events Are Bridging The Gap Between The Physical and Virtual Worlds

 

Video streaming service providers and artists worldwide are swiftly adopting hybrid events as an immersive way to bridge the gap between online participants and physical events. True hybrid events are when audiences and participants feel connected to the artists beyond just merely watching a video. Another aspect of true hybrid events is typically the feeling of individual interaction between the performing artist and the fan. Microsoft Mixed Reality and AltspaceVR are some of the prominent technologies that are bringing that connection to life in the metaverse in a whole new way. 

 

Holding virtual concerts in the metaverse comes with a slew of benefits for artists and performers alike. Streaming services like Animal Concerts enable artists to earn more than 50% of the revenue from both NFT as well as ticket sales. With celebrities and performers benefitting directly, they have a massive incentive to entire users and fans into the metaverse, where blockchain technology powers profound use cases in the metaverse. 

 

Live Streaming: A Gateway To Exploring and Developing Full-Potential Solutions in The Metaverse

 

Facebook’s announcement of transcending from a social media platform to a ‘metaverse company’ and changing its name to Meta has created tremendous waves in the social and tech landscape. Metaverse services have sparked a plethora of conversations around their potential as being the next evolution of a digital world. Moreover, news around tech giants investing millions of dollars in metaverse development further strengthens the fact that companies are making real inroads into realizing that potential. 

 

On the surface, the metaverse is just an ultra-realistic replica of the real world in a 3D digital environment. The idea is that within the metaverse, people can seamlessly access the virtual realm through augmented reality and virtuality and they can potentially ‘live online’ as digital avatars that can communicate and interact with each other. However, the metaverse is not just a digital replica. Inside the metaverse, your virtual self or personalized 3D avatar represents an actualization of your real persona that compliments without replacing the physical self. Similarly, metaverse interactions and networking are not a substitute for real-world interactions, but they are actually an extension of real-life communication.

 

The boundaries between the physical and virtual worlds have been blurring for many years, especially with the widening mainstream appeal of online social gatherings, online gaming, live eCommerce, and the metaverse is perceived as the culmination of this enormous shift. 

 

Interactive experiences are pivotal for metaverse’s success and virtual live streaming platforms have already successfully bridged the gap between the real and digital worlds, taking virtual streaming to the next level. 

 

Also Read: Simulcasting: Detailed Insights Into Multi-Destination Video Streaming

 

The Role of Live Streaming in The Metaverse

 

Reckoned as the new frontier of social media, the live video streaming industry is expected to be valued at $70 billion by the end of this year and a whopping $247 billion by 2027. It has surged and expanded by leaps and bounds in terms of the rate of participation and engagement. 

 

Live streaming hosts a suite of next-gen tools and technologies such as AR/VR, artificial intelligence, and blockchain, which are essentially the building blocks of the expansive metaverse. It serves as a gateway to immersive VR events where users can create their online personas or 3D digital avatars to represent an extension of their being. With avatar personas that can make life-like gestures and expressions possible, live concerts and video streaming in the metaverse can foster unlimited audiences and engaging co-presence that participants can relate to.

 

Enhancing Video Concerts and Live Streaming Applications For The Metaverse

 

With the right video concerts and live video streaming platforms, businesses and streaming service providers can decentralize access to content in real-time. They can make it simpler, faster, and easier to participate in the show and experience it regardless of location and physical presence. 

 

By connecting audiences across spatial limitations and barriers, the metaverse makes shared experiences and collaboration possible for millions of people worldwide. Technologies such as AR/VR, AI, NFTs, and blockchain used in live streaming can be further leveraged to construct brand new and engaging experiences in the metaverse. For instance, the most recent example includes artists such as Ariana Grande, Marshmello, and Travis Scott who did in-game live music concerts on the extremely famous survival game, Fortnite. While media & entertainment are the most common use cases, these technologies can be potentially harnessed for just any type of virtual event with audiences like real-time conferences, meetings, lectures, and more.

 

One more prominent and interesting metaverse application of live video streaming is in the education sector. Live streaming has been widely used for learning and teaching, especially amid the ongoing pandemic. When paired with the volumetric video which records real-time objects or space in 3D, live streaming is significantly revolutionizing the learning experience within the metaverse. Students can zoom in and expand molecules to learn more about them or have a walkthrough of the human body to understand medical science. The possibilities of live streaming in the metaverse are endless.

 

Summing Up

 

The future of live concerts and video streams depends more than only on live-streaming artists or performers. It is essential for performers and video streaming hosts to build a personal connection with their audiences through technology. 

 

There is no denying that the future of performances is virtual and truly hybrid. Every artist across the globe would eventually want to be virtually present at the venues and interact with their fans in person. We, therefore, know that the future of streaming and live events have shifted within the metaverse and the possibilities it is furnishing to the media & entertainment industry are endless.

 

If you are interested in building live streaming applications or building metaverse platforms for decentralized video streaming, feel free to drop us a line. Our experts will get back to you within 24 hours. 


 

About Author

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Priyansha Singh

Priyansha is a talented Content Writer with a strong command of her craft. She has honed her skills in SEO content writing, technical writing, and research, making her a versatile writer. She excels in creating high-quality content that is optimized for search engines, ensuring maximum visibility. She is also adept at producing clear and concise technical documentation tailored to various audiences. Her extensive experience across different industries has given her a deep understanding of technical concepts, allowing her to convey complex information in a reader-friendly manner. Her meticulous attention to detail ensures that her content is accurate and free of errors. She has successfully contributed to a wide range of projects, including NitroEX, Precise Lighting, Alneli, Extra Property, Flink, Blue Ribbon Technologies, CJCPA, Script TV, Poly 186, and Do It All Steel. Priyansha's collaborative nature shines through as she works seamlessly with digital marketers and designers, creating engaging and informative content that meets project goals and deadlines.

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