- Warner Music Group(WMG) is all set to enter the metaverse, with a music-focused theme park in the virtual world, The Sandbox.
- A step forward towards fan-owned and community-driven initiatives, says COO and Co-founder of The Sandbox, Sebastien Borget.
- Adjacent to the WMG’s virtual park, The Sandbox will host a virtual properties sale in March this year.
The American giant in the music industry, Warner Music Group, is ready to enter the metaverse with a theme park focused on music in the Sandbox.
WMG announced the partnership recently, expanding the record label conglomerate’s venture into NFTs and the metaverse. The group is an owner of various popular music properties like record labels Atlantic, Warner Records, Parlophone, Elektra, etc.
Features of the Warner Music Group LAND:
The Virtual theme park will have a concert and musical experiences from the music company’s leading roster of artists like Ed Sheeran, Dua Lipa, Cardi B and Bruno Mars.
According to Oana Ruxandra, Chief Digital Officer and Executive Vice President of business development at Warner Music Group, they are focused on Web3 currently and what effects it will have on music. And that the music industry had significant decades in the 80s and 90s, then there came a pullback after Napster and Spotify came into the picture. They want to be a driving opportunity. The new virtual world, Warner Music Group LAND, is going to be a blend of music theme park and concert venues.
According to Sebastien Borget, the COO and the Co-founder of The Sandbox, This partnership with the music group will bring the metaverse a step forward to the fan-owned and community-driven initiatives. And that the possibilities are pretty exciting.
WMG’s indulgence with the metaverse might result in new ways and opportunities for the artists to interact and engage with fans and also virtual entertainment.
The Sandbox is a subsidiary of the venture capital company Animoca brands, which already has its partnerships with prominent names like Snoop Dogg, CryptoKitties and Adidas. This partnership is said to be its first one with a prominent music company.
Although Warner Music Group is not the first player from the music industry to enter the world of metaverse to expand its audience. In October last year, Decentraland hosted a three-day virtual music festival.
Partnerships with the Virtual reality platforms like The Sandbox and The decentraland are gaining popularity over time. Music concerts, Sports tournaments, Fashion weeks, etc., are all becoming common on metaverse.
After this announcement, there was a surge seen in the SAND token of The Sandbox in the last twenty-four hours.
According to the announcement, The Sandbox will host a LAND sale for virtual properties in March this year. The music fans will be able to purchase digital real-estate as NFTs, and this sale hosting will be adjacent to the WMG’s virtual park.
Many people see metaverse as an opportunity and don’t hesitate much while promoting it. The virtual world is gradually becoming a trend now, with big brands like Warner Music Group continuously partnering with it.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.