iHeartMedia is also working on its NFT, following the success of the iHeartRadio Music Festival.
Everyone wants to create a metaverse project now as interest surrounding the space continues to skyrocket with each passing day. The latest institution to show interest is iHeartMedia, a media platform headquartered in San Antonio, Texas, which revealed in an earlier announcement plans to expand its presence to the Metaverse and Web3.
The metaverse, as defined by Time magazine, is “a centralized virtual world, a ‘place’ parallel to the physical world”. Interest in this virtual world has grown in recent times as more traditional companies and institutions seek to build a future on this platform.
iHeartMedia, with over 250 million users, is unquestionably one of the leading audio companies in the world. The company plans to create iHeart events on Roblox that would bring better experiences to music listeners.
At the same time, it also seeks to raise awareness and adoption of the Metaverse alongside Web 3 platforms among the general public. He believes he can do this by leveraging his reach to consumers of more than 90% of Americans each month.
CEO Bob Pittman thinks his media powerhouse will take the opportunity to push the metaverse and web3 to the public by educating its millions of users about the potentials of the space. In his words:
“While there are several great new products for the metaverse and web3 from a wide range of creators, with our unrivaled audience, multiple platforms, and trusted broadcast and podcast hosts, iHeartMedia is uniquely positioned to build consumer awareness, understanding and understanding. demand necessary for these new products and platforms from us and others to succeed.
iHeart also plans a tokenized community
iHeartMedia is also focused on the upcoming launch of its first tokenized community. It plans to introduce a token that will be acceptable to the iHeart creator community and provide access to its users across all iHeartMedia platforms.
iHeartMedia is also working on its NFT, following the success of the iHeartRadio Music Festival. Conal Bryne, President of iHeart’s Digital Audio Group, also highlighted the platform’s commitment to the metaverse and web3 later in the announcement.
Growing Interest in the Metaverse
As we previously reported, interest in the Metaverse has reached new heights since Facebook revealed it was renaming Meta and focusing its operations on building the Metaverse. According to company CEO Mark Zuckerberg, he expects about 1 billion people to be in space over the next decade.
Different reports from top financial institutions have also hinted that the metaverse industry could be worth up to $1 trillion in the future.
This level of interest has contributed to the growing popularity of NFT-linked tokens, which have returned over 37,000% in the past year.
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