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Metaverse August 29, 2022

Why Opera Has a Role to Play in the Metaverse

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The metaverse has exploded since 2021 with an estimated $8-13 trillion in a total addressable market, according to a 2022 report by Citibank. The bulk of these investments are driven by cryptocurrencies and NFTs, followed by remote work, branding, and buying of projects. But the performing arts, especially opera, has an important role to play in the metaverse. Known as a “gesamtkunstwerk” or “total art form”, opera is a unique combination of live, unamplified singing, full orchestra, dance, even full-scale ballet, and everything in between.

The opera house was the first musical institution to open its doors to the general public. In fact, “the Venetian audience consisted of all social classes,” according to Henry Raynor. In our main article on MetaNews today, we will be exploring and analyzing the salient points behind the Metaverse, the arts, and assets that depend on their collaboration.

 

Sadly, however, much has transpired over the past few decades: classical music, and opera more specifically, has become – or at least inherited a perception of – an elitist and niche community. And yet the reality is that classical music has much to contribute, particularly in the metaverse, because it anchors many activities together under a single storyline. That is, many types of digital assets, ranging from music NFTs to digital wearables to digital real estate, would all be used in the production of opera in the metaverse, just like they are for in-person performances.

 

 

One of the most glaring gaps in metaverse projects today is purpose – that is, many metaverse projects are not solving a fundamental human need or desire, but rather touting progress simply because they exist in the metaverse. “Most future use cases showing potential metaverse value are inspired by current use cases (e.g., AR for frontline work and VR for high-consequence scenarios) and provide incremental value,” according to a 2022 Gartner report.

 

“Today, the internet is in the early stages of a transition from dominant Web2-era business models- where powerful centralized platforms exercise full control over their users’ access and activities – to Web3, which transfers power and economic incentives back to a platform’s users.  The metaverse is going to be built atop Web3 applications and protocols, which will create profound changes for a user’s motivations and ultimately their online behavior,” said Kevin Virgil, chief investment officer for Meta Impact Capital, a metaverse-focused venture capital firm.

 

We are only in the infancy stages of the metaverse. Gartner, for example, anticipates a progression to advanced metaverse projects by 2025 and mature metaverse after 2028. And here is exactly where opera in the metaverse can thrive because the infrastructure will have been built out.

 

Opera in the metaverse is a win-win opportunity. The performing arts sector was already struggling with stagnant wages among artists and no forecasted employment growth over the next 10 years, at least in the United States. The lack of employment growth and stagnant real wages reflects the reality that the sector is becoming increasingly more niche and idiosyncratic, often with little transparency.

 

 

These trends accelerated over the past few years due to COVID-19. For example, employment in the performing arts sector contracted from roughly 100,000 to 40,000 in the United States between February and May 2020, and remains far below its national average. Furthermore, gross domestic product in the broader arts and culture sector declined by 6.4% between 2019 and 2020, compared with a 3.4% decline in the overall U.S. economy. Not surprisingly, the decline was concentrated by the performing arts: their value added fell by 73%. Unemployment also remains far above national trends – 40.2% of actors were unemployed in 2020 and 33% in 2021.

 

In this sense, there is the potential for a marriage between the historical art of opera and the cutting-edge technological advancement of the metaverse. Opera can bring structure and story to metaverse projects, providing engaging, meaningful, and immersive experiences for people, and the metaverse can bring a revitalization and expanded audience to opera. Let’s keep building.

 

Christos A. Makridis is the CTO/COO and co-founder of Living Opera, a web3 multimedia startup that combines classical music and blockchain technologies. He is also a professor, writer, and adviser with doctorates in economics and management science & engineering from Stanford University.

 

Soula Parassidis is the CEO and lead founder of Living Opera. She is also an international opera singer, speaker, and passionate advocate against human trafficking with a bachelors in music from University of British Columbia.

Billy Houghton is a top acclaimed and sought-after commodities futures trading expert. The expertise and in-depth level of analysis that is offered by Billy Houghton is what has managed to put him at the stage of being the top ranked author for MetaNews among multiple different categories. Throughout his career, Billy has specifically spent over three decades on Wall Street fine-tuning his skills, which included over two decades at a trading desk. In more recent times, specifically the last decade, Billy has been researching algorithms of AI in futures trading, and believes they are the future of trading. He started writing about the Metaverse, as he thinks its the future of everything AI related.

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Metaverse

Hey Bear Club is a community-based NFT project

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Hey Bear Club is a utility-based nft that bridges the gap between the real world and the completely immersive virtual environment. It was inspired by a passion for art and fashion and aims to bring the two together.

Every bear is unique, and every holder will receive a VIP pass to the holders-only community, exclusive merch drops from well-known and up-and-coming designers, airdrops (for example, future nft drops will be sent to the holders), and first-hand experience with the hey bear club web3 activities.

The company’s goal is to cooperate with a wide variety of groups in addition to their existing stakeholder base, beginning with the community of designers and developers. This will be the platform where artists, graphic designers, fashion designers, and others working in the art and technology space can connect with one another, create together, and build for the holders of their tokens.

The design ideas of the company are meant to mirror their society in general

Although there are some that are more noticeable than others, this does not mean that there are not smaller groups or individuals. And despite the fact that they all dress up differently when they go out, the company wants its holders to have a good time, experience excitement, and go on an adventure as they make their way through the Hey Bear Club.

The gathering of the bears’ personal first aid kits is the initial adventure of the Hey Bear Club. The majority of the bears will be designed by the firm’s in-house team, but the company is also inviting individuals talented designers from all over the world to co-design some of the bears. These designers will contribute their own unique brand of creativity, ingenuity, and imagination to the hey bear club.

“We are a group of individuals who get our motivation from the worlds of art, fashion, and technology. In addition, we are on a mission to facilitate the personal development of others while including them in our exciting adventures. We bring decades of experience to the table in the fields of digital marketing, fashion, design, technology, cryptocurrency, art, and nfts.”

Twitter: twitter.com/_heybearclub_

Discord: discord.com/invite/heybearclub

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Metaverse

Bulgari presents its metaverse world

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On ZEPETO, the largest metaverse platform in Asia, the Italian luxury brand BVLGARI will launch a private virtual world for its customers. Beginning on the 31st of August in 2022, it will include a pop-up store known as “BVLGARI SUNSET IN JEJU” and offer guests a variety of offline and online activities.

The pop-up store and a café, both of which are physically located in Parnas Hotel Jeju, have been virtually recreated in BVLGARI ZEPETO World so that guests can enjoy themselves there even if they do not go to the actual place. BVLGARI ZEPETO World features the 2022 BVLGARI Resort Collection in Eden, which was inspired by the summer sky with hues of gold and warm apricot.

Guests can enjoy sweets and beverages at “BVLGARI SUNSET IN JEJU,” which is an embodiment of the identity of the brand

In particular, the virtual world has provided its inhabitants with a few more enjoyable options. For instance, when users finish a mission, they will be rewarded with items from the BVLGARI Resort Collection as well as signature accessory pieces, which they can use to outfit their avatars. Users are able to get a feel for the brand by dressing their avatars in classic pieces from collections like as B.zero1, Divas’ Dream, and Serpenti.

In addition, Blackpink Lisa, the brand’s worldwide ambassador, will hold a virtual live event, which is already generating a lot of attention. On the BVLGARI realm, her avatar will engage in a variety of interactive activities with the brand’s devoted followers, such as taking selfies.

Since its inception in August 2018, the metaverse platform ZEPETO, which is managed by Naver Z, has accumulated more than 320 million members all around the world. Since teens make up 80 percent of the platform’s user base, it is firmly establishing itself as a favorite hangout spot for generation Z across the world in this age of the metaverse.

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Metaverse

PUBG and Blackpink partner for VR concert

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Blackpink was awarded the trophy for “Best Metaverse Performance” at the MTV Video Music Awards for their ground-breaking in-game concert series that was a collaboration between PUBG Mobile and Blackpink called “The VIRTUAL.” The incredible performance, which garnered 15.7 million views from viewers all over the world, triumphed over a shortlist of six of the most famous celebrities and video games in the world, including Ariana Grande in Fortnite, Charli XCX in Roblox, and Justin Bieber in Wave. The shortlist was comprised of six of the most popular things in the world right now. In 2022, the MTV Video Music Awards, which recognize the best music videos of the previous year, will include a new category that will be titled “Best Metaverse Performance.”

The one-of-a-kind audio-visual event that took place over the course of two consecutive weekends in the month of July captivated people all over the world

The in-game event featured not only the premiere of a brand-new special tune called “Ready For Love,” but also virtual performances of BLACKPINK’s most popular songs by the group. Because of the partnership, a music video was produced, which, to this day, has had more than 151 million views on YouTube.

The members of Blackpink are seen in Ready For Love at a variety of famous locations from the PUBG Mobile universe. These locations include the island of Erangel, the Sanhok Rainforest, the Miramar Desert, the Vikendi Ice Fields, and a sea of flowers in Livik.

The film incorporates well-known elements of the video game PUBG Mobile, such as airdrops, helmets, planes, and bullets, so that viewers can feel as though they are truly a part of the PUBG Mobile universe. Fans can now watch the entirety of the music video for “Ready For Love” on the official YouTube channels of BLACKPINK and PUBG MOBILE.

As part of the cooperation, the music video for the BLACKPINK X PUBG Mobile special tune Ready For Love was launched. Since its first release, the music video has been viewed more than 146 million times. This is the first time that BLACKPINK has appeared in an avatar for a music video, and it is also the first time that PUBG Mobile has worked with artists to create a music video that features virtual images.

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