IHeartMedia Pushes Into Metaverse, Web3 Via Roblox

IHeartMedia is expanding into Web3 and the metaverse, with plans to create events and experiences for mainstream listeners on the Roblox platform, the company said Wednesday. The radio broadcaster plans to bring immersive musical events to the 47 million daily active users on Roblox and launch its first tokenized community. It will build a token designed to “incentivize and reward” iHeart creators in new ways and give iHeart users access to offerings across its multiple platforms, including collectible nonfungible tokens. Calling iHeartMedia “big believers in the incredible potential of web3,” Conal Byrne, president-iHeartMedia digital audio group, said the company is working with partners to develop an “easy-to-use ramp to the metaverse and web3 for the mass market.”