TIDAL makes social VR move with $7m in Sensorium tokens

The Jay-Z run streaming service TIDAL has made a move into social VR by buying US$7 million in Sensorium Corporation tokens for its artists.

Based on Unreal Engine 4 and set to launch in February 2021, Sensorium Galaxy is a global social VR platform that will allow broadcast of virtual music and entertainment concerts to users all around the world, and additionally allow them to hang out with each other at the virtual concert and nightclub.

TIDAL owners including Lil Wayne, Madonna, Rihanna, Calvin Harris, Daft Punk and Coldplay’s Chris Martin will be the first to use the buzzed-about technology to provide unique experiences to fans.

“Our relationship with Sensorium provides TIDAL with the opportunity to gain exclusive rights for its stellar artist roster to have their shows and music broadcast exclusively within Sensorium’s themed virtual entertainment worlds,” Lior Tibon, chief operating officer at TIDAL, said.

“The Sensorium Galaxy is a next-generation platform for entertainment consumption which will elevate the connection fans have with their favourite artists, and bring artist’s vision to life in a new and exciting way.”

Sensorium’s chief communications officer Brian Kean added that the deal would putt he Sensorium Galaxy platform as a leader in the entertainment social VR market.

It is spruiking that its technology will “provide unprecedented ways” for artists, performance venues, game publishers, and virtual influencers to entertain and engage fans across interactive environments.

“This is a very important transaction that will not only propel Sensorium Galaxy forward but could also see world-famous artists creating their own virtual music projects in Sensorium worlds,” Kean said.

The TIDAL deal comes on the heels of EDM promoter Yann Pissenem who created the Ushuaïa Ibiza and Hï Ibiza nightlife hubs, joining as developer of the creation of the virtual music planet’s conception in Sensorium Galaxy.

Although VR headsets offer the best immersive experience, Sensorium Galaxy will also be accessible via PC, iOS, and Android applications.

The Tidal deal comes on the heels of the UK’s virtual reality music company MelodyVR buying out Napster this week.

Those in the music biz who see virtual concerts as a major element n the future are also looking at two other buzzed-about projects.

Los Angeles base virtual concert startup The Wave, founded in 2016 by music and gaming app designers Adam Arrigo and Aaron Lemke, has raised $40 million to expand globally.

Its latest funding attracted investment from artist manager Scooter Braun, ex-Yankee ballplayer Alex Rodriguez, Superfly co-founder Rick Farman and Twitch co-founder Kevin Lin.

Sony Music is working on a “secret project” after Sony Corporation  injected $250 million in Epic Games, creator of hit video game Fortnite and Unreal Engine.