Web3 platforms that leverage new technologies like the blockchain and NFTs are on the rise, as is demand for their services as brands, artists, and sports teams seek to engage with fans in new ways. Blockparty is one such Web3 platform that offers a marketplace for NFTs as well as products that enable creators to build their own NFT storefront to sell digital assets to fans.
In a deal marking its first major label partnership, Blockparty has officially partnered with Warner Music Group (WMG), giving UMG artists early access to the platform’s decentralized NFT exchange, which allows collectors to trade digital assets. Artists and creators will be able to sell their NFTs in bundles and connect directly with fans.
This continues a growing — and inevitable — trend of major music labels partnering with Web3 and metaverse companies as they adapt to new ways of doing business and ensuring their artists stay relevant as fans embrace digital platforms. Universal Music Group, for example, recently announced a partnership with avatar company Genies to create avatars for its artists to use in the metaverse.
“As technology and consumption patterns evolve, it’s imperative that we equip our artists and songwriters with all of the tools they need to participate in the virtual economy,” said Oana Ruxandra, Chief Digital Officer & EVP, Business Development, WMG, in a statement. “This partnership with Blockparty furthers WMG’s Web3 reach by empowering artists and songwriters to craft their own digital stories through NFTs.”
Warner Music Finland artist STIG will be leading the pack with the first NFT drop using Blockparty. He will be launching several NFTs that capture his iconic moustache and 5 panel caps.
“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,” says Vladislav Ginzburg, CEO of Blockparty, in a statement. “Early access to our DEX will give WMG artists the ability to both expand their audience to reach Web3 enthusiasts, and foster deeper connections with their existing community by amplifying fan experiences.”