TronWeekly

Crypto World News

You are here: Home / Archives for Warner Music Group

Warner Music Group

OpenSea and WMG collaborate for a greater purpose of Web3

by

In a news statement on Thursday, Warner Music Group announced a partnership with the OpenSea marketplace. Through the partnership, a number of WMG artists will have a platform to grow and expand their Web3 fan bases.

Through the partnership, Warner Music artists will have first access to new OpenSea goods, increased market discoverability, and dedicated and highlighted areas of the OpenSea website for prospective NFT projects. Additionally, members of the OpenSea team will provide specialist assistance to artists to help with both the growth of their Web3 fan bases and the integration of current fan communities into the NFT environment.

Warner’s Chief Digital Officer, Oana Ruxandra, stated,

“Our collaboration with OpenSea helps to facilitate these [fan] communities by unlocking Web3 tools and resources to build opportunities for artists to establish deeper engagement, access, and ownership.”

Warner Records and Jeremy Fall’s web3 business, Probably Nothing, will collaborate to release the first NFT collection as a result of the cooperation.

‘Probably A Label’ to launch the OpenSea and WMG collaboration

‘Probably A Label’, the Web3 record label Fall formed last month with Warner Records, will release NFT Label Passes as the first Warner Music/OpenSea collaboration, according to Fall’s confirmation to local media.

The NFT Label Pass will give owners access to Probably A Label’s upcoming music releases, the ability to create and invest in community-generated, IP-backed virtual musicians, as well as the ability to attend exclusive live events like artist meet-and-greets and meals with music executives.

Basis for Probably The goal of A Label is to use Web3 technology to provide musicians and their fans the chance to reclaim their ownership rights. Fall thinks that traditional music industry giant Warner Music is proven to be a fantastic partner in that effort. Fall went on to say,

“They are the type of major label that is trying to enter the space the right way, and adapt to the current climate, what culture looks like now. They’re in favor of the artists and pushing the IP conversation forward.”

The NFT Label Pass will give owners access to Studio A and Studio B in addition to music-related benefits. These IP incubators let participants pitch projects using their ownership of specific blue-chip NFTs like Bored Apes and Cryptopunks—which the studio may choose to develop, finance, market, and cosign.

Warner Music Group partners with blockchain gaming developer, Splinterlands

by

Warner Music Group (WMG) has revealed a partnership with Splinterlands, a renowned blockchain gaming firm, on 23 February 2022. The two firms will work in a first-of-its-kind partnership to provide chosen WMG artists the opportunity to build and implement creative play-to-earn (P2E) arcade-style blockchain games. Splinterlands is now the most popular blockchain game dapp (decentralized app) in the world, called Splinterlands.

Splinterlands is a blockchain-based decentralized digital collectible trading card game. It was founded in 2018. The company’s fantasy-themed collectible card game now has 1.8 million enrolled gamers, 450,000 daily active users, and has recently exceeded the one billion battle mark. Splinterlands is a community-driven game that is built and improved with the participation and advice of its gamers.

One of the goals in Splinterlands is to build your ‘strength. The power of rare cards is greater than that of common cards. And you’ll need the power to get through the game’s stages. In addition, you earn SPS, the game’s cryptocurrency, based on your power. As a result, the term “play to earn” (P2E) was coined.

Oana Ruxandra, Chief Digital Officer & EVP, Business Development, Warner Music, said,

“Our partnership with Splinterlands pulls focus to our artists and their music as we all work together to develop and maintain tokenized games. As we build, we will be unlocking new revenue streams for our artists while further solidifying fans’ participation in value created.”

Warner music group’s early association with blockchain games

The Sandbox, a different kind of blockchain game, announced a collaboration with the music behemoth in January. Warner Music obtained ‘virtual land’ for a virtual performance theme park and music venue in this case. The Sandbox is a 3D metaverse encounter, whereas Splinterlands is a strategy card game. Despite having many more users, its cryptocurrency market capitalization is about $3.5 billion, compared to $47 million for Splinterland. However, they are two quite different experiences.

0 EBHD4qtgkLzv6xMb

Furthermore, Warner Music has also worked with BlockParty and OneOf, two NFT platforms, this year.

The music label was an early backer of Dapper Labs in 2019, prior to this frenzy of activity. It collaborated with Genies, an avatar technology startup, last year, to build avatars of some of its artists. In the same year, Warner joined with Beeple’s NFT platform and participated in a $725 million fundraising phase for blockchain games ecosystem Forte.

Warner Music Group inks a deal with NFT platform Blockparty

by

American multinational music conglomerate, Warner Music Group [WMG] joined hands with New York-based digital collectibles platform Blockparty. According to the official announcement by Blockparty, the deal will grant WMG artists and songwriters access to NFTs. It also claims to have created “a new class of digital collectibles across art, music, and sports” which it says will “enable users to share and earn value together”.

In accordance with the press release, the partnership would facilitate Warner Music Group artists to use Blockparty’s decentralized exchange [DEX], as a “community-focused trading platform that allows collectors to swap digital assets in a way that hasn’t existed until now” and that those creators will have the opportunity to participate in NFT swaps.

Besides that, the trading platform explained that those using the DEX have the option to “bundle-sell their NFTs”, where they can combine existing NFTs to swap, trade, or sell. It further claims that by eliminating the middleman, creators, artists, collectors and fans alike can now connect directly through this ‘unique experience.’ For the record, Blockparty’s first NFT drop will start with Warner Music Finland artist STIG, who’s soon to release a series of NFTs.

Speaking on the partnership, Vladislav Ginzburg, CEO of Blockparty noted,

“We’re elated to be working with Warner Music Group, a company that continues to sit on the edge of technological and entertainment-based innovation. We look forward to tapping into our expertise and creativity as we work with individual artists to ensure they have all of the tools they need to participate in Web3 and do so in ways that are unique to them, their brand and their communities. Early access to our DEX will give Warner Music Group artists the ability to both expand their audience to reach Web3 enthusiasts, and foster deeper connections with their existing community by amplifying fan experiences.”

Warner Music Group and Co cashing in on the NFT space

As the NFT and blockchain market heats up this winter, the leading music labels have been eyeing the digital token market as a potential long-term revenue generator as they sort their strategies to cash in on the action.

Notably, in April 2021, WMG forged a partnership with one of the world’s largest avatar technology firms Genies to create avatars and digital wearable NFTs for WMG artists. Several months later another prominent music record firm became the latest entrant into the NFT scene. TronWeekly had reported on Dutch music giant Universal Music Group [UMG] unveiling the new NFT band ‘Kingship’ in November 2021.