Sonos has a remarkably good implementation of all of this.
For URL-based streams they buffer and NTP to sync. For live streams (e.g. gaming) they p2p multicast and tweak the wifi params in real-time to minimize drops.
The speakers create their own wifi and use MST network heuristics to latency-min route over that versus native wifi or ethernet if you've plugged it in. Sound drops when the wifi spectrum blinks (rarely), but I have never encountered the speakers being out of sync or noticing an echo effect.
And the speakers can use your phone's mic to scan the soundscape of a room to acoustically balance the sound when you set them up. I particularly like how consistent the sound volume is room-to-room even with very different speaker setups.
IIRC they've patented their specific mechanism. So ya, it's solved, but it may be expensive to license.
(Not affiliated with Sonos, I just have a bunch of them and like them a lot.)