Warner Music Group is planning on hosting virtual concerts within the metaverse.
On Thursday, the company announced its partnership with the upcoming Ethereum game The Sandbox to open a music-themed area within the shared online game world.
The major record label will use its virtual land plots in the game to create a space that serves as both a music-centric amusement park and a venue for concerts by its artists.
It’s the first such label to secure a location in a metaverse game and has not disclosed which artist will perform and/or appear within The Sandbox.
Warner has hundreds of total signed artists across its various imprints, including Atlantic, Elektra, Warner Records, and Parlophone, including Ed Sheeran, Lizzo, Meek Mill, Weezer, and the Red Hot Chili Peppers.
The Sandbox is an Ethereum-based metaverse game that lets players purchase Land sold as NFT assets, which can then be customized and even monetized within the game.
Virtual land sales have accelerated in recent months following Facebook’s big metaverse announcement. Investors purchased more than $100 million worth of virtual land, with the majority of that coming from The Sandbox, in November of 2021.
The game’s creators have already partnered with more than 200 brands and celebrities, including Snoop Dog, The Walking Dead, and Adidas. The Sandbox will hold a land sale in March to let players purchase land plots adjacent to Warner Music Group.
Artists can sell NFT collectible items through The Sandbox. According to Oana Ruxandra, they can also unlock exclusive benefits or experiences, the Chief Officer and VP of Business Development at WMG. Ruxandra also mentioned virtual concerts, listening parties, award ceremonies, and other live in-game engagements.
Snoop Dogg has already followed a similar playbook in The Sandbox. He recently gave away and sold NFT party passes to an upcoming metaverse concert, launched NFT avatars for purchase, and sold a Land plot near his in-game estate. One of the rapper’s ploys sold for almost $450,000 worth of cryptocurrency.
WMG also partnered with Genisis last April, a startup that creates cartoon-like avatars and sells them on Dapper Labs’ Flow blockchain. The partnership will allow WMG artists to turn into Genie’s avatars.
Discover more from Baller Alert
Subscribe to get the latest posts sent to your email.
