TIDAL buys $7M in tokens from Virtual World builder Sensorium Corporation

Updated: Feb 11, 2021

Recently TIDAL, the streaming platform co-owned by a number of artists, bought 7 million dollars in so called SENSO Tokens issued by the Sensorium Corporation. SENSO Tokens are the in-world currency of the Sensorium Galaxy, a new Virtual Reality service that calls itself the world's first entertainment Social VR Media Platform, in which users can attend virtual concerts, nightclubs and festivals.

The Sensorium Corporation was founded in 2018 by Russian billionaire Mikhail Prokhorov, so far it has collected over $100 million in investment to build its Sensorium Galaxy. It has described itself as the world's first entertainment Social VR Media Platform. In the Sensorium Galaxy, users can create their own avatar and visit different worlds using VR-headsets. Each of these worlds is created in collaboration with renowned artists and prominent figures of culture, music and art.

The launch of the Sensorium Galaxy is set in early 2021, with its first two worlds; Prism and Motion. Prism will focus on creating virtual electronic dance parties and Motion will be an underwater world focused on dance performances.

Due to the two first worlds having a focus on music, it's no surprise TIDAL has bought 7 million dollars in the so-called SENSO Tokens. SENSO Tokens are the in-world currency of the Sensorium Galaxy, which can be used to buy different objects in the virtual world. Why Tidal bought tokens instead of simply investing into the company is unclear.

What is clear, is that with the purchase of the SENSO Tokens, the platforms artists co-owners, which include only Jay-Z, but also Lil Wayne, Beyonce , Rihanna, Calvin Harris, Daft Punk, Damian Marley and Deadmau5, will likely be some of the first artists to organise parties and concerts in the virtual world of Prism. Lior Tibon, COO at TIDAL explained:

“Our relationship with Sensorium provides TIDAL with the opportunity to gain exclusive rights for its stellar artist roster to have their shows and music broadcast exclusively within Sensorium’s themed virtual entertainment worlds.

With Covid-19 keeping many people indoors for the coming few months, Virtual Worlds like the Sensorium Galaxy will likely be a good alternative for going clubbing or visiting a festival for many people around the world. So it seems like TIDAL made a smart move by getting in on the game early.


Source: MBW