CRS In Action: Web3, NFTs, AI And The Metaverse

iHeart's Sabnis (Photo: CRS)

"Web3, NFTs, AI And The Metaverse," hosted by DIGITAL MUSIC NEWS' CRO, NOAH ITMAN on MONDAY (3/13), was an introduction to the latest technical trends being embraced in the music business, as well as the creativity, opportunities and ethics (in terms of copyright  laws) involved in music creation from artificial intelligence. The session was held on the first day of COUNTRY RADIO SEMINAR at the OMNI NASHVILLE HOTEL.

The panel featured PEX VP CHRIS McMURTRY, VNUE Pres./CEO ZACK BAIR, SONGVEST Founder/CEO SEAN PEACE and iHEARTMEDIA EVP/Chief Creative Officer RAHUL SABNIS, and offered an inside look into the next-gen platforms. The session began with descriptions of Web3, the Metaverse and NFTs, and how they are each used. Also discussed was how artists can use them to create marketing campaigns and loyalty engagement among fans, for instance, offering an NFT attached to something physical, like a concert ticket, which incentivizes hard core fans to not only invest, but to also help market the artist and the physical object.

SABNIS explained how and why having CHARLIE PUTH do a concert for the virtual iHEARTLAND was such a benefit for both the artist and the company. Using the Metaverse for the virtual concert allowed PUTH to play a show for almost triple the capacity of a regular venue the size of MADISON SQUARE GARDEN.

The panel was essentially a Web3, NFT, AI and Metaverse tutorial for "dummies," opening the eyes of attendees to how these tools can be are beneficial to artists, radio companies and brands. It became apparent during the session that, because the technology is so new, ownership and legal issues are still unresolved, but that's a circumstance that will not delay the continued advancement of these tools.

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