Backed by $2.5 Million, TheWaveVR Wants to 'Revitalize the Music Industry'
TheWaveVR sought funding via venture capitalists and just hit the jackpot. In its corner, the music-centric virtual reality company now has Joe Kraus of Google Ventures (GV), Rothenberg Ventures, The VR Fund, RRE Ventures, Seedcamp, KPCB Edge, Presence Capital and the ex-CEO of Square Enix North America, Mike Fischer. Talk about an all-star team.
Now with $2.5 million in funding, TheWaveVR wants to do nothing short of "revitaliz[ing] the music industry." How? By giving music fans a way to experience their favorite artists and events like never before.
"We’re working toward empowering artists and music lovers alike and transforming the way people connect through music by building the world’s first musical metaverse in VR," CEO Adam Arrigo told reporters. "Music creators will be able to fully customise how their audience experiences the music – whether that’s by transforming the venue from a realistic nightclub to outer space or putting on the most unimaginable light show ever. Fans won’t have to travel the globe or miss out on their favourite DJs, musicians or festivals and can experience the music like never before, while socialising in totally new ways alongside their friends."
TheWaveVR has big visions, and they are building a dream team to make them a reality. SoundCloud co-founder Dave Haynes and visual artist David ‘Strangeloop’ Wexler - known for his work with Skrillex, Flying Lotus and more - are among the power players now working with the VR company.
At The Virtual Reality LA expo this month, the company is making its debut with "the world's first VR rave." Both the performing artists and the audience will be wearing VR headsets and the audience will also be equipped with the popular wearable subwoofers known as SubPacs.
Check out our previous article on How Virtual Reality Technology Will Change the Music Industry based on speakers and presentations at the 2016 SXSW Interactive technology conference.