Perfect Havoc co-founder Rob Davies has tipped metaverse revenues to boom, pointing to parallels with the video games industry’s now multi-billion dollar downloadable content market.
The prediction comes after Perfect Havoc launched its own NFT collection to celebrate the UK dance label’s fifth anniversary at the beginning of August.
The collection, created in collaboration with music industry creative lab Synthetic Artists, features a series of unique digital artworks based on themed iterations of Perfect Havoc’s graphical logo, originally designed by Pure Evil when the company began.
“Responses from our artists and core community have been good,” Davies told The IMI with the NFT collection having been available for almost a month. “This is a project that is going to take time to build in the web 3.0 space, alongside the rest of the company and brand with our events, artists and label, but we wanted to enter the space now and build upon it. We are entering a new era at Perfect Havoc where we are looking to connect the dots between fans and the PH brand itself from all areas but especially within the event side.”
When asked about how much of an influence the metaverse will have on Perfect Havoc’s business model in the coming years, Davies said: “It’s very early days for the scene and for Perfect Havoc but having worked in the gaming industry, I have seen how these platforms and new innovations can rapidly grow.”
"I think the metaverse will create more opportunity for the independent music sector and independent artists."
Davies counts video games giant Electronic Arts among the companies on his CV, and points to DLC – downloadable content designed to supplement already purchased games – as a sector that had plenty of detractors early on but has since become an established, multi-billion dollar market in its own right.
“DLC is a great example,” said Davies. “There has been a huge growth in the gaming industry for fans wanting to purchase DLC content. However, in the beginning, not everyone thought this was going to work and were questioning whether gamers would actually be interested, especially when they are already spending £40 to £60 RRP for a game. It has now become the new norm when playing games and has become a huge part of the gaming industry. I think the metaverse is going to follow the same path but what’s exciting is that this isn’t just limited to gaming, it’s also open for the music industry and other industries. I think the metaverse is another platform that’s going to stand on its own two feet.”
He added: “I think it will create more opportunity for the independent music sector and independent artists, and allow them to explore and build fan bases and create opportunities and be discovered in a different way, though it has to make sense, creatively, for the artist. In regards to the business side and how we handle copyright, I think it’s yet another model that opens up opportunities for artists and independent labels to exploit.”
