While striking up partnerships with digital marketplaces, sports leagues and famous artists are accomplishments in their own rights, Terra Virtua is taking it even further. In an announcement made this week, the VR platform has teamed up with the songwriter & artist – Ross Golan.
The objective? To leverage the power of blockchain, especially Non-fungible tokens (NFTs), to launch The Wrong Man – the world’s first NFT musical. As a songwriter and artist, Ross Golan brings a powerful reputation; having been acclaimed as a multi-platinum award winner in the industry, and collaborations with major names like Flo Rida, Selena Gomez, Celine Dion and many others.
For Terra Virtua users, the partnership also includes the minting of limited edition digital collectables. Harnessing the diversity of the musical, and NFTs, these digital assets will be a mixture of music, graphics and film. Among the assets are the fully animated musical, vinyl/s and poster-based artwork and an unreleased track from Golan.
The NFTs will land on Terra Virtua and be available to buy in the first quarter of 2022. A new production of the musical is expected in 2023.
Finding new means of monetisation
Of course, the decision to enter the NFT fray comes at a time when the entertainment industry is eager to find new avenues, not just for boosting fan engagement, but creating new revenue streams. In making the jump, Golan’s musical will serve as an interesting case study for musicians seeking solutions to engagement and revenue.
The Wrong Man started life as a folk song about a man wrongly convicted of a murder he didn’t commit, which Golan used to play live in people’s living rooms, then bars and lofts, from Sydney to New York.
Ross Golan said, “The Wrong Man continues to open doors and present unique opportunities to shine a light both on the music and the subject of wrongful convictions. I couldn’t be prouder to be a part of this historic moment with Terra Virtua and I’m honoured to be a part of a community whose interests lie in the greater good.”
As the years went on, Golan transformed that one song into a concept album, which told a long-story across the singles. But it went further; transforming into an animated film and then on-stage musical, with the support of Hamilton alumnus Thomas Kail.
In the mainstream musical world, it’s already seen sell-out performances off-broadway back in 2019.