Warner Music Group has entered into a collaboration with NFT marketplace OpenSea, which the major says will provide a platform for “select WMG artists to build and extend their fan communities in Web3”.
As part of the partnership, WMG says that its artists would get early access to OpenSea’s new drops product, along with “improved discoverability”, personalized storytelling on customized landing pages, as well as OpenSea’s safety and security features.
In addition, WMG artists would have their own dedicated drop page to host limited-edition projects, which, WMG says, would open new opportunities for fans to engage with music and artists.
The first collection is currently in development with Warner Records UK in collaboration with Web3 company, Probably Nothing.
Headquartered in New York, OpenSea’s leadership team comes from Google, Palantir, Lyft, Uber, Stanford and Berkeley.
Investors in the platform include a16z, Paradigm, Coatue, YCombinator, Founders Fund, Coinbase Ventures, 1Confirmation, and Blockchain Capital.
This recent collaboration marks the latest in a series of efforts from WMG to build out its Web3 expertise.
In June, WMG joined a strategic funding round for San Francisco-based Authentic Artists, a music platform that claims to power “metaverse-native virtual artists, digital collectibles and interactive music experiences”.
In January, WMG inked a strategic partnership with virtual gaming world The Sandbox, marking what WMG said was its “first entry into the NFT metaverse realm”.
The major has also entered into partnerships with the likes of gaming developer Splinterlands and digital collectibles platform Blockparty in recent months, while Warner Recorded Music appointed Linkin Park’s Mike Shinoda to a “first-of-its-kind” Web3 advisory role.
“Fundamental to music’s DNA, is community – it’s artists and fans coming together to celebrate the music that they love.”
Oana Ruxandra, WMG
Oana Ruxandra, Chief Digital Officer & EVP, Business Development, WMG said: “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.”
“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.”
Shiva Rajaraman, OpenSea
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.
“We’re excited to provide the support and infrastructure to help welcome the Warner family of artists into the exciting NFT ecosystem.”Music Business Worldwide