The free event will be presented by digital asset exchange Kraken and does not require a ticket or any special hardware, like a virtual reality headset, to participate.
The company said in a press release on Monday that between Nov. 10-13, the experience will "showcase the latest metaverse technology," including Decentraland's unique Emotes - special dance moves or poses that can be sold as non-fungible tokens (NFTs) - alongside a pop-up NFT gallery, limited-edition wearables and more.
So far, Decentraland has secured over 100 artists, including rock legend Ozzy Osbourne, electronic DJ Dillon Francis and rapper Soulja Boy. It is also partnering with a handful of brands including metal festival Ozzfest, NFT music platform Limewire, AR metaverse platform OVER and others to host stages and sponsor experiences for the event.
Producer for the Metaverse Music Festival Iara Dias told CoinDesk that the goal of the event is to bridge Web2 and Web3 worlds to mutually benefit fans and artists. Not only will it host a free, accessible event for attendees across the world, but will also provide artists with opportunities to connect with their fans, such as token-gated experiences.
“The metaverse music festival is not attempting to replace a real-world experience, but rather just give another opportunity for people to enjoy the art of music,” said Dias.
Decentraland hosted its inaugural music festival last year, in which it had 80 artists and over 50,000 attendees over the course of four days. It has also played host other events with similar experiences, such as its New Year’s Eve party in December and its Metaverse Fashion Week in March.