The integration of metaverse technology in artist value proposition

The Metaverse is a new technology which has caught the attention of many professionals from a variety of domains. The music industry is one of the biggest on the planet and with immense growth potential. Attention in research has revealed that the Metaverse opens the door to many opportunities for the music industry, ranging from virtual concerts, to NFT and cryptocurrency advertising and funding. However, the technology is in its early stages and people are still reluctant to adapting it. Qualitative research in the form of surveys was conducted and analyzed using the Thematic Analysis method. The results show that although professionals of the music industry are uncertain of the future of music in the Metaverse, they acknowledge the potential and opportunities of this technology. A list of suggestions was drawn about the potential business opportunities and adaptations that can be made to an artist’s value proposition to enter the Metaverse market.