Web3 music partnerships are heating up. Warner Music Group (WMG) announced earlier this month that it has partnered with NFT platform Blockparty, granting its artists the ability to sell and trade NFTs with fans on the platform. Within the last few days, the company has made more movies to expand its Web3 presence through new partnerships with decentralized virtual world The Sandbox and Web3 music company OneOf.
The Sandbox is one of several decentralized metaverse worlds that has made headlines in recent months for virtual real estate sales, with some parcels going for millions of dollars. Through its partnership with WMG, which is the platform’s first deal with a major music company, The Sandbox will be establishing its first music-themed world.
Named the Warner Music Group LAND, this new world will be a mix between a musical theme park and a concert venue and will be a place where fans can go for unique musical experiences featuring WMG artists. The Sandbox will be holding a LAND sale in March, during which fans will be able to purchase parcels next to the new WMG property.
“Our partnership with The Sandbox adds a new layer of possibility in the metaverse, with the ownership of virtual real estate,” said Oana Ruxandra, WMG Chief Digital Officer & EVP, Business Development, in a statement. “As a first-mover, Warner Music has secured the equivalent of beachfront property in the metaverse. On the LAND, we'll develop persistent, immersive social music experiences that defy real-world limitations and allow our artists and their fans to engage like never before.”
In addition, through its partnership with OneOf — an energy efficient NFT platform that focuses on the music industry — WMG will have exclusive NFTs created for its artists, ranging from collectible PFPs (profile pictures) to music royalties to in-person experiences.
“Partnering with OneOf, a leader in the emerging technology space of Web3 and NFTs, gives our artists an edge in more authentically building one-to-one relationships with their fans and winning in the new Web3 economy,” said Ruxandra in a statement.
OneOf CEO Lin Dai added. “From collectibles to music royalties, NFTs and Web3 represent the pulse of consumer demand and an exciting future for the music industry. We are thrilled to partner and innovate together with Warner Music Group and use our cutting edge Web3 technology to bring their iconic labels and world-renowned artists to the next 100 million fans on blockchain.”