Wave, the virtual entertainment company where artists perform online as avatars, is getting into NFT collectibles to distribute in conjunction with virtual concerts.
On Tuesday (May 3), the Los Angeles-based startup announced its first NFT collection to be distributed by OneOf, a music industry-focused green NFT platform. The two companies will co-launch a fan-edition NFT for Teflon Sega, a metaverse-born artist and producer.
The Wave NFT drop commemorates Teflon’s next virtual show as an exclusive concert poster that will be gifted to attendees, Wave supporters and OneOf VIP pass holders.
Teflon is a virtual singer who rose to fame in recent years by releasing a song a week. The artist is currently represented by independent record label and distributor EMPIRE.
Wave first teamed up with Teflon in March to create his first-ever live performance in the metaverse, during which fans could interact with Teflon and influence the act in real-time. For example, fans were able to vote on the color and style of various visual elements, like Teflon’s eyes, and order the artist a ride to another metaverse location.
These performances, called “Waves,” take the form of immersive online experiences. Acts are recorded live in the company’s L.A. studio by motion capture tech, which is then mirrored by a digital avatar. The concerts are then syndicated across most major social media channels.
Wave finds itself among a growing crop of entertainment businesses tapping into the power of the metaverse and Web3. Blockchain technologies and NFTs are quickly becoming a core piece of the music industry, with everyone from Keith Richards to Timbaland getting in on the action as a way to connect artists and their communities.
“As a creator-centric and fan-forward company, we want to leverage innovative Web3 technologies to forge stronger artist-fan connections and superserve core fans who want more touch points from our Wave experience,” said Adam Arrigo, co-founder and CEO of Wave, in a statement.
OneOf has worked with other industry organizations to similarly bring together creators and those who follow them. The Quincy Jones-backed platform has previously inked deals with Doja Cat and The Game, among other notable performers. OneOf also recently announced a collaboration with the Grammy Awards, as well as partnerships with iHeartRadio and MusiCares.
Teflon’s next performance is titled Dimensions Vol. 2. It will take place on Wave.Watch on May 12 at 6 p.m. PT.