Decentraland Will Host Ethereum’s First Music Festival: Report

Decentraland will host Ethereum’s first music festival, live virtual one that is and promises a lot of music, fund, and exclusive NFT goodies so let’s see more about it in our latest Ethereum news.

Decentraland will host Ethereum’s first music live festival and it started seeing a lot of attendees. Decentraland is a mix between Second Life and Minecraft as parcels of the LAnd in the virtual world are already selling for millions of dollars. The upcoming festival will be a virtual one as crypt’s Second Life sim will host TO THE MOON music and art festival as a collaboration between NFT marketplace KnownOrigin, NFT Tastemaker collection ILLumino, and crypto consultancy company BEAR NFT.

One week to go until Art Week 2021 (July 8-18). @lobsteropolis, @Hackatao, @GraffitiKINGS, @eine_signs, @Playboy and @BoxheadTweets – just some of the highlights from the #metaverse‘s home of art and culture. Read all about it in the latest blog post.https://t.co/tpRU9LQ6mq

— Decentraland (@decentraland) July 1, 2021

The festival will be hosted at KnownOrigin’s virtual headquarters within Decentraland and will feature performances by artists like SNBRN, Fred Thrust, OOkay, Win and woo, and Autograf. The organizers promised exclusive NFT goodies as well and the attendees receive a virtual PoAP token to brand their Decentralized profile and to purchase exclusive clothes. Decentraland is a browser-based and crypto-powered computer game with Minecraft-style world-building and Second Life style-socializing which launched in 2017. The in-game currency is ETH-based MANA and with it, the holders can buy in-game items, and one of the 90,000 plots of in-game land as NFT. Decentraland also had about 10,000 daily active users according to NBT. In early June, Boson Protocol lets people turn physical items into NFTs, paid about $700,000 in MANA for a plot of land on which it plans to build a mall connecting Decentraland to the real-world shops.

Having fun @decentraland exhibition showcasing talented artist’s artwork come join us!! 🎨🖼🖌@NFTupdate
🔽🔽🔽https://t.co/RyhoKcPqag pic.twitter.com/gRPN0R74wp

— Bina Patel (@binaNFTs) July 4, 2021

At the time, Boson’s purchase was the highest-value land trade on Decentraland though it has since been suspended by Republic Realm investment company which is a virtual estate investment firm that pays $913,000 for a chunk of Decentraland. Virtual Real Estate like most of the NFT space, is a risky investment, and what’ sin demand today, might not be tomorrow. If the market pops, the buyers won’t have the satisfaction of non-pixelated earth to stand on.

As recently reported, The increase in the price of Decentraland comes less than 24 hours after Enjin Coin (ENJ), which is a native crypto asset on a gaming blockchain network called Enjin, recorded a 200% growth against its Bitcoin after it was listed on the Samsung Blockchain Wallet.

Source: https://www.dcforecasts.com/ethereum-news/decentraland-will-host-ethereums-first-music-festival-report/