Warner Records UK, a subsidiary of Warner Music Group, has announced a partnership with Bose to create a new NFT collection that will be made available to fans for free as yet another record label makes moves into web3. The collection consists of 5,000 unique Stickmen Toys, which are described as audio-visual and utility enabled.
Each NFT will come with its own unique 30-second track along with custom traits. Warner Records will be giving NFT buyers ownership of the underlying IP for the collectibles, as well as a worldwide, royalty-free license to commercialize the audio and visual product
The collection will include rare Bose themed NFTs, owners of which will be able to redeem the NFTs for free real-world, limited edition Bose products. All Stickman Toys collectors will be able to access exclusive Stickmen Toys x Bose merchandise that will be available for purchase.
NFTs continue to gain popularity among brands, artists, and fans, and despite the uncertainty in the crypto market, fans are still willing to shell out money for digital collectibles that they deem valuable enough. However, offering them for free is also an effective strategy as it removes all barriers to entry and eases fans into the NFT space.
The collection is being produced in collaboration with Web3 agency Kapsule Studios and educational NFT platform Probably Nothing by Jeremy Fall. Owning one of the NFTs will also grant access to “The Playground,” which will allow collectors to access live events, physical collectibles, future Warner Records NFT projects, and more.
“NFTs present a powerful extension of the artist-to-fan relationship, giving people the opportunity to invest in an artist's future success and providing them value along the way,” said Seb Simone, Vice President, Audience & Strategy at Warner Records. “We're proud to be the first major label providing collectors with authentic and meaningful ownership of the underlying audio-visual copyright, free to collectors.”
Jim Mollica, Bose Chief Marketing Officer, added, “We’re delighted to bring one-of-a-kind Bose-themed NFTs to this unique collection with Warner Records and Stickmen Toys. Bose believes in exploring new and innovative ways to bring the power of sound to music-loving communities that share our passion. Participating in the emerging Web3 music space creates a great opportunity to do just that.”