Warner Music Group and OpenSea collaborate to expand Web3 opportunities for artists
September 30, 2022 5:50 AM
The company has announced that select musicians can use exclusive drop pages to distribute their NFT collections and limited-edition projects.
In order to help select musicians expand their fanbase into the Web3 community, global music and entertainment company Warner Music Group (WMG) announced a partnership with nonfungible token (NFT) marketplace OpenSea on September 29.
The partnership between the two companies will, according to the press release, give certain WMG artists early access to a newly released feature on OpenSea that will allow them to launch their NFT collections and limited-edition projects on their own personalized and dedicated drop pages.
This means that these WMG artists can take advantage of OpenSea's top-tier security measures and tailor-made storytelling landing pages. With this collaboration, WMG artists will be able to more easily create new Web3 communities, while existing fan communities on OpenSea will be exposed to new ways of connecting and being creative through NFTs.
As OpenSea's VP of product, Shiva Rajaraman, explained:
"NFTs, as stated by the authors, represent a new creative medium and a mechanism for musicians and artists to build community, engage directly with fans, and express themselves across borders and languages."
"Fundamental to music's DNA, is community — it's artists and fans coming together to celebrate the music that they love," said Oana Ruxandra, WMG's chief digital officer and executive vice president of business development. By working with OpenSea, we are able to unlock Web3 tools and resources that can be used to create new venues where artists can have greater influence over their work and its development.
Warner Records UK and Web3 company Probably Nothing are working together to create the first collection of music NFTs. WMG claims that this partnership is the most recent in a series of initiatives designed to expand the music label's capabilities in the Web3 arena.
According to an earlier report this year, Warner Music Group had formed a partnership with Splinterlands, a developer of fantasy-themed collectible card games, to produce and promote arcade-style blockchain games with a focus on play-to-earn fundamentals.