Previously, the organizers of the MTV Video Music Awards added a new award category for the best performance in the metaverse. Now it has become known that the award itself will take place in the Roblox metaverse.
As part of this initiative, MTV is partnering with Super League Gaming Inc. to bring more viewers to the Paramount Media Network channel by targeting the younger Roblox demographic, according to the statement.
As the metaverse has become a mainstay of modern society and generates more revenue than the film and TV industries combined, brands such as Wendy’s Co, Gucci, Nike, Chipotle do not want to miss their marketing opportunity. Depending on their purpose, each brand created a virtual space.
The Metaverse has become the perfect place for the music industry during the pandemic. Artists such as Charlie XCX and Travis Scott have already performed in the virtual space.
MTV VMAs to be held in the Metaverse
Now the management of MTV and Paramount Media Network are set to host the MTV VMAs at Roblox to appeal to a younger generation whose taste in music is still in its infancy.
In turn, Roblox will install billboards in all of its games. Users will be able to vote for their favorite metaverse performance using MTV logo tokens earned from three VMA-related games.
This was an important move for MTV, as as of 2021 the VMA’s viewership aged 18-49 has fallen by 17%. According to experts, this will undoubtedly arouse more interest in the industry.
According to Bloomberg Intelligence, the Metaverse market is expected to be worth $800 billion by 2024.
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