Worldwide music and entertainment giant Warner Music Group (WMG) has joined forces with OpenSea to introduce dedicated landing pages for their artists. The WMG roster will gain early access to OpenSea’s many valuable features, including advanced discoverability.
OpenSea and global music and entertainment giant, Warner Music Group (WMG), have partnered to give a few musical artists a platform to grow and expand their fan bases inside the Web3 community.
— TokenHunt.eth (@TokenHunt) September 30, 2022
Artists and Fans Unite in the Web 3.0 Space
Warner Music Group’s (WMG) all-star lineup includes the crème de la crème of pop music in the form of Dua Lipa, Madonna, Cardi B, Ed Sheeran, Linkin Park, Prince, & many other well-known names of the music industry.
The company’s full submersion into Web 3.0 comes just a month after the Warner Music Group launched ‘Probably A Label‘—a subdivision dedicated entirely to NFTs and the metaverse. As Chief Digital Office Oana Ruxandra explained: “Fundamental to music’s DNA, is community–it’s artists and fans coming together to celebrate the music that they love”.
WMG’s first NFT project is slated to be the NFT Pass sale for the newly-formed Web 3.0 record label. The debut will be powered by Jeremy Fall, who launched metaverse startup project ‘Probably Nothing’. The Internet’s Mixtape is an attempt to combat the stereotypes surrounding crypto, NFTs, and the modern music industry.
What’s Included in the NFT Label Pass
First of all, the Probably Nothing NFT Label Pass will allow owners to hold stakes in the related bands and artists, in a similar way to ‘KINGSHIP’ by Bored Apes. Moreover, NFT enthusiasts will be able to acquire licenses from a members-only music library. Some of the other perks include:
- Meet & greets with artists and bands;
- Dinner with music industry executives;
- Early access to the label’s music drops;
- Creative tools to make create unique virtual artists.
Besides the perks listed above, NFT enthusiasts that acquire one of the exclusive passes will also own the rights to the musical pieces. The move represents part of the vision of the Warner Music Group’s (WMG) daughter label. Jeremy Fall emphasizes that the Warner Music Group aims to be at the forefront of innovation, and thus, returning control of music ownership rights to artists is crucial, while fans gain the chance to be a part of it all through collecting NFTs.
On the Flipside
- It is currently unknown when the NFT Label Passes will be made available.
- The total NFT trading volume has so far crashed 97% from its 2022 ATH.
Why You Should Care
Collaboration between major record labels and blockchain companies could be a crucial catalyst for the continued growth of the NFT market. Besides WMG, the Universal Music Group has also made moves to get involved with Wec 3.0 this year. UMG now gives artists the ability to drop NFT collections on LimeWire NFT. For its part, LimeWire, the classic file sharing service, has gained a new lease of life, transforming into a music NFT market place, representing a perfect example of fruitful collaboration between music & blockchain.
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