Most of the metaverse is gaming, especially if we look at it from David's definition. As music companies transition to web3, there are a lot of things they can learn from their relatives in the gaming industry. Most of the games have a free-to-play accessible version with added perks that you can pay for (also known as the freemium model). "If we look at the music industry, that's radically different to the concert experience – there's no free version," David says. "An obvious extension would be for the music industry to make sure that there's always a free version with which people can play and engage with in some way."
At the same time, through this freemium version, gaming companies built out a smart monetization model where they offer cool limited-edition merch that users can buy, sell, and trade. While merch existed in music for years, there need to be more limited-edition offerings for super fans that people can value and "fight for". David co-authored PROMT for Musicians, a guide to growing your career using ChatGPT. Make sure to get it with a 50% discount with this link (note: the discount kicks in at the checkout!