You must be voted in by a large panel of people that are in the recording industry themselves. Each year, 8 groups/individuals are nominated and 5 get in. To be eligible to be voted in you must have...
if an artist is globally recognized as a somewhat iconic figure in the music industry, then they will most like be inducted into the hall of fame. most likely AFTER their retirement.
The Rock and Roll Hall of Fame is located in Cleveland, Ohio at 1100 Rock and Roll Blvd. The foundation was created April 20th, 1983, but the museum was not opened until September 2nd, 1995.