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There aren’t many industries where augmented reality and virtual reality cannot play a big role in shaking up the traditional ways of doing business or delivering products and services. The gambling industry isn’t an exception. I don’t want to talk about the details of this technology because I assume that you have a basic understanding of the technology and to what extent it can offer opportunities to all kinds of industries. Instead, I would like to take you with me to Las Vegas, in your mind of course. Sit down at one of the thousand blackjack tables in the Bellagio. Order a scotch on the rocks, forget about time and play for hours straight. What a lovely thought, isn’t it? But what if I told you that in the near future you will be just a few mouse clicks away from this experience, just from your couch? This is where AR/VR comes into play.

The internet already made it possible to place bets on sports and play casino games online. This is easy and convenient, but players miss the exciting atmosphere of brick-and-mortar casinos. AR and VR have the potential to enhance the online betting and gambling industry and allow you to enjoy a real-lifelike casino experience just from your home (Keyser, 2017). VR will enable the player to play in casinos in Las Vegas and interact with other players, while being at home. AR can add additional layers to your view. For example, it can project a roulette table in your living room including croupier and enables you to gamble and interact. Furthermore, AR is also an option when it comes to betting on sports. While watching a soccer match through your AR goggles, it would allow you to ‘’click’’ on a player, gain some information about him and immediately place a bet on whether he is going to score or not.

The question is not if it is going to happen, but when it is going to happen. It will take some time before this technology is fully integrated into the mainstream customers. There are still some investments that customers and casinos have to make before this experience becomes available. Until then, we have to do use our imagination.

 

Source:

https://www.linkedin.com/pulse/gambling-augmented-reality-you-bet-chandra-de-keyser?articleId=6277421935332851712#comments-6277421935332851712

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Remember the time that you had to drop the needle of your record player exactly in the right groove to make it play your favourite song, or that you had to turn around the LP to make it play the other 5 songs that were stored on the LP? No? Me neither. But I do remember the time that I was walking around with my brand-new MP3-player that could store only 60 songs. Good times, but look where we are now. Chances are that you are reading this blog while streaming the new song that your favourite band just released on Spotify, or that you listening the repertoire of Marvin Gaye through Apple Music. A lot of disruptions in the music industry have taken place and changed the way we listen to music. All because of the never-ending developments in technology.

The digitization of the music industry provided several challenges like licensing music services, tracking consumption and paying royalties to the right parties (Brook, 2018). It isn’t always very clear which party you have to approach to purchase a music license, so it often takes a real effort to make use of someone else’s work. Furthermore, because of the growing amount of music streaming platforms like Spotify, Apple Music and Soundcloud, the revenue distribution system becomes more and more complex. The actual producers of music are getting less and less royalties over time because every intermediary wants a piece of the pie (Victoria S., 2018). Right now, we are in the early stages of yet another potentially disruptive evolution that can tackle these everlasting challenges within the music industry: blockchain.

Blockchain technology enables and facilitates the development of a global network for intellectual property rights registration, management and monetization (Sanchez, 2018).

An example is the JAAK start-up. They are developing KORD, an open shared data network based on Ethereum blockchain. It enhances the interconnectivity between producers, labels, promoters and publishers. Users of KORD have the sole authority to insert, update and remove their own information, creating a public record of rights and an immutable audit trail (Sanchez, 2018).

A similar initiative is the Mycelia project from Imogen Heap. This project, also based on blockchain, consists of a platform containing immutable metadata about songs, which ultimately enables peer to peer payments and a more transparent and fair revenue distribution system.

So people, let’s get rid of the status quo! Purchase music with cryptocurrency and hope that these initiatives become very successful in the near future by growing in popularity. Only then, the revenue distribution- and copyright systems will become 100% transparent and fair.

 

Sources:

https://blog.jaak.io/jaak-music-pilot-announcement-c8274b0a9170

https://rubygarage.org/blog/blockchain-in-music-industry#article_title_1

Can JAAK’s Blockchain Music Rights Database Succeed Where Others Have Failed?