Spotify Technology (NYSE:SPOT) is headed to the metaverse with the help of a video game company.
What Happened: Spotify announced the launch of Spotify Island inside the Roblox game from Roblox Corp (NYSE:RBLX).
“Pack your bags, because Spotify is taking a journey into the metaverse – and you’re invited along for the ride!” Spotify said.
Roblox users will be invited to explore sounds, quests and have the chance to land special merchandise.
“Through this interactive world, we’re creating a place where fans can link up and create new sounds together, hand in digital spaces, and gain access to exclusive virtual merch.”
Spotify is allowing artists the chance to create in-game virtual merchandise that can be made available to Roblox users.
Artists will receive a portion of the sales on items. SUNMI and Stray Kids are among the first to collaborate with Spotify on virtual merchandise for Spotify Island.
Fans can interact with artists in the metaverse, providing a way for artists to be more directly engaged with fans while creating monetization opportunities along the way. Users will be able to collect points through quests and creating music with an interactive leaderboard called “The Charts.”
In the future, Roblox users on Spotify Island will be able to “portal out to the themed islands that will come to life.” The themed islands will be filled with exclusive content and more artist interactions. The first themed island will be K-Park, an homage to K-Pop featuring SUNMI and Stray Kids.
Related Link: Nike Betting On The Metaverse With NIKELAND In Roblox: What Investors Should Know
Why It’s Important: The launch of Spotify Island makes Spotify the first music streaming brand to have a metaverse presence inside Roblox.
The news from Spotify follows up on Nike Inc (NYSE:NKE) betting big on the metaverse by launching its own virtual world called NIKELAND inside the Roblox game. Nike CEO John Donahoe said recently 6.7 million people have visited NIKELAND from 224 countries since its launch.
Sony Group Corp (NYSE:SONY) also partnered with Roblox in 2021 to help bring its artists into the metaverse with the potential for exclusive items and virtual concerts.
Musicians have flocked to the metaverse with virtual concerts as a way to debut new songs and also a way to connect with more fans. Ariana Grande, Lil Nas X and Travis Scott are among the musicians who played virtual concerts for millions of fans.
Music publisher Warner Music Group Corp (NASDAQ:WMG) recently announced a partnership with The Sandbox (CRYPTO: SAND) to launch a musical theme park and host concerts at a virtual concert venue.
For Roblox, the partnership with Spotify continues the company's push to further monetize its large user base with corporate partnerships inside the game.
