Metaverse brings new problems and opportunities to music licensing
With the rising popularity of Web3 and the metaverse, songwriters and musicians are wondering what music licensing will look like in this new space. The term “metaverse” is becoming increasingly common, but while many people have likely heard it used, they often don’t know what it means. It can be difficult to explain the term to someone outside the Web3 space, as the metaverse is still relatively new and evolving. The most important thing to know is that it has the potential to revolutionize the internet and how people live, work and play. The metaverse is a new frontier of innovation and creativity, centered a great deal around media, which should come as no surprise since many Web2 apps are as well, especially music. There are entire social media platforms dedicated to sharing music, and those that aren’t have incorporated music in other ways. While this has increased awareness about music licensing in digital spaces, it has also highlighted that some systems in place are outdate...