Wave recently announced its “One Wave” series of virtual concerts featuring John Legend, Tinashe, and others. The upcoming virtual experiences will provide Wave artists with a platform to create digital avatars and environments that represent their artistic vision in real time.

The funding news comes just after Epic Games announced that its live concerts for Travis Scott in Fortnite drew more than 27 million viewers to his Astronomical show.

Wave CEO Adam Arrigo said in an interview with GamesBeat that he believes the virtual concert space is gaining momentum, particularly as people are shut in their homes and unable to go to concerts. “The whole space started to really pick up, and it was less about us going out and pitching for the next thing and more about just finding the right partners that would kind of help us take it to the next level,” said Arrigo.

Most of the investors for this round were already on board in January. Then the coronavirus hit and the value of virtual concerts became a lot more obvious. Phil Sanderson, managing director at Griffin Gaming Partners, said in an interview with GamesBeat that he thinks simply watching music online is boring compared to the real thing.

“You can put on a headset and listen to Coachella live, but no one wants to do that,” Sanderson said. “The only way to do this is to capture the emotion of the crowd, which is effectively what Wave does by creating an interactive experience. It’s so much better — if you were watching Travis Scott in Fortnite, it would be so much better if you could see his facial expressions and interact with him in real time.”

Sanderson was the first investor in Pandora and also invested in Song Pop. He goes to a number of music festivals every year and was instantly attracted to Wave.

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