Warner Music Group works with OpenSea to give artists more ways to make money on Web3
Christie's transitions to an Ethereum blockchain with the NFT auction platform
What needs to happen so that Web3 fully replaces Web2?
On September 29, global music and entertainment company Warner Music Group (WMG) announced a partnership with nonfungible token (NFT) marketplace OpenSea to give certain musicians a place to build and grow their fanbases in the Web3 community.
According to the press release, the partnership between these two companies will give some WMG artists early access to OpenSea's newly released feature. This feature lets artists launch their NFT collections and limited-edition projects on their own drop pages that they can customize.
These WMG artists will be able to tell their own stories on custom landing pages and use OpenSea's safety and security features, which are the best in the industry. The goal of the partnership is to help WMG artists build new Web3 communities. It will also introduce existing fan communities on OpenSea to new ways of connecting and being creative through NFTs. This will give fans in the Web3 community new ways to interact with music and artists.
The vice president of product at OpenSea, Shiva Rajaraman, told us:
"For artists and musicians, NFTs are a new way to express their creativity and a way to build a community, connect directly with fans, and share their work across borders and languages."
Oana Ruxandra, chief digital officer and executive vice president of business development at WMG, also said, "Music's DNA is community. It's artists and fans coming together to celebrate the music they love. Our work with OpenSea helps these communities grow by giving artists access to Web3 tools and resources that help them get more involved, have more control over their work, and feel like they own it.
With help from Web3 company Probably Nothing and Warner Records UK, the first collection of music NFTs is being put together. WMG says that this partnership is the latest in a series of efforts to increase the music company's knowledge of the Web3 space.
Cointelegraph reported earlier this year that Warner Music Group and Splinterlands, a company that makes fantasy-themed collectible card games, had formed a partnership to make and develop arcade-style blockchain games where you can play to earn money.