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iHeart Takes on Web3 and the Metaverse

Also plans to build a tokenized community for access to events and NFTs

(Getty Images)

The metaverse doesn’t really exist yet, at least not in its envisioned form; but that isn’t keeping companies from expanding their efforts to play in it.

That includes iHeartMedia, which says it wants to build “an easy-to-use ramp to the metaverse and Web3 for the mass market.”

iHeart announced an “important next step in extending its presence into Web3 and the metaverse, beginning with plans for the creation of iHeart events and experiences for listeners and music fans on Roblox,” which it says brings people together online through shared experiences.

The company said it also is committed to launch tokenized communities for its users and creators.

It said it plans to use its existing consumer reach and engagement “to create the awareness and demand necessary to bring new metaverse and Web3 platforms to the mass market.” Chairman/CEO Bob Pittman said in the announcement that iHeart “is uniquely positioned” to play that role.

The company said this year it “plans to bring immersive musical moments to the over 47 million daily active users on the Roblox platform.”

It will launch its first tokenized community, “building a new token that will incentivize and reward the iHeart creator community in new ways and give iHeart’s fans unique access to offerings across its multiple platforms.” It will also launch a series of collectible non-fungible tokens, citing he success of its iHeartRadio Music Festival NFTs launched in partnership with NFT platform OneOf last September.

iHeart’s Digital Audio Group President Conal Byrne said, “We are big believers in the incredible potential of Web3. We have already stepped into the metaverse with NFTs and have much more to come.”

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