Despite the crypto winter and waning hype around NFTs, Web3 continues to develop and is becoming an ever-growing presence in our lives and they way we do business. Music artists in particular have been leveraging new Web3 technologies to open up new revenue streams and provide fans with new experiences and more value.
Warner Music Group (WMG) has been doing a lot of work in Web3 over the past year to help its artists transition and build new fan communities and take advantage of the many opportunities that this new world opens up. Earlier this year, the company advanced this goal by partnering with various Web3 platforms, including The Sandbox, OneOf, and Blockparty, and recently announced a collaboration with NFT marketplace OpenSea.
As part of the new partnership, select WMG artists will be able to leverage OpenSea’s platform and expertise to expand their fanbase in Web3. Artists will get early access to OpenSea’s new drops product, as well as custom landing pages and improved discoverability.
“Fundamental to music’s DNA, is community – it’s artists and fans coming together to celebrate the music that they love,” said Oana Ruxandra, WMG’s Chief Digital Officer & EVP, Business Development. “Our collaboration with OpenSea helps to facilitate these communities by unlocking Web3 tools and resources to build opportunities for artists to establish deeper engagement, access, and ownership.”
Artists will also get dedicated drop pages to host limited-edition NFT collections, the first of which is currently being developed by Warner Records UK and Web3 company Probably Nothing.
Shiva Rajaraman, OpenSea’s Vice President of Product, added, “For artists and musicians, NFTs represent a new creative medium and a mechanism to build community, engage directly with fans, and express themselves across borders and languages. As a massive music fan myself, I’m thrilled to work with a partner who understands the significance of this technology, and wants to use it for good – to empower artists to own their fan connections directly.”