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Justin Bieber, the Weeknd and J Balvin are among the stars who have invested in Wave, an animated concert-streaming and tech company
By IQ on 22 Oct 2020
A raft of high-profile artists including Justin Bieber, the Weeknd and J Balvin have invested in Wave, the world’s first multi-million dollar virtual entertainment platform for live concerts.
The platform transforms artists into animated characters via live motion capture technology that records their movements in real-time, while they perform on a virtual stage, customised to their style.
Fans can also create an avatar to join the free-of-game-play concerts shared via TikTok, YouTube, Twitch, Facebook, and other gaming channels, social networks, livestreaming platforms.
The Weeknd invested in the company shortly after his first concert on the platform, dubbed The Weeknd Experience, which aired on TikTok on 7 August.
The show was the company’s highest-profile project to date, drawing in two million viewers and leading to $350,000 in charitable merchandise sales, according to TikTok.
This year, the company has also secured content partnerships with Warner Music Group and Roc Nation and has locked in $30 million in funding from business moguls including artist manager Scooter Braun.
The company has hosted over fifty concerts and worked with more than twenty artists to date, including John Legend, Tinashe, Imogen Heap and Lindsey Stirling.
While many VR platforms stream pre-recorded concerts, the LA-based company, which was founded in 2016 and originally called TheWaveVR, is differentiated by its live performance and interaction.
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