WMG and OpenSea give artists an opportunity to expand their Web3 communities.
Warner Music Group (WMG), a New York-based multinational entertainment and record label, has partnered with the non-fungible tokens (NFTs) marketplace OpenSea, to give selected artists a platform for expanding their Web3 communities.
According to the press release shared by Warner Music Group, the artists will have their dedicated drop pages where they can “host limited-edition projects.”
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
What Does Staking Mean in Crypto? (Easily Explained!)
On top of that, WMG artists will be able to customize their landing pages providing greater discoverability and storytelling. The announcement emphasized that artists will be the first ones to receive access to OpenSea’s newly dropped products.
The main goal of this collaboration is to allow WMG artists to build new Web3 communities while introducing already established communities to “forms of connection and creativity powered by NFTs.”
Oana Ruxandra, Chief Digital Officer & EVP, Business Development at Warner Music Group, has highlighted that the collaboration with OpenSea will allow artists and fans to celebrate music in a different way.
Fundamental to music’s DNA, is community – it’s artists and fans coming together to celebrate the music that they love. 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.
The record label highlights that their first NFT collection will be released in collaboration with Warners Record UK and Web3 company Probably Nothing.
When talking about the partnership, OpenSea’s Vice President of Product Shiva Rajaraman noted:
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. We’re excited to provide the support and infrastructure to help welcome the Warner family of artists into the exciting NFT ecosystem.
It seems that the music industry is paving its way into Web3. At the beginning of September, Sony Music filed a trademark for Columbia Records, aiming to use it for “NFT backed media, music + podcast production, artist management + music distribution services.”
