Warner Music joined the decade challenge. Web3 and Metaverse are definitely this decade revolution. The indies are working hard and fast on that since the beginning, and now the majors are going to settle the score. Last years were like a “beta test”, made especially by independent artists and labels, large or small, that gave us different points of views. Everything concerning the web3 (like any new digital environment) is, to date, completely disconnected from any possible legal implication. Also for this reason, large companies have waited longer than independents to join the dawn of another change for the industry. But it’s finally time also for Warner, Sony and Universal to accept it, and obviously from their position could be easier.

2022 for Warner has begun with a couple of huge partnership

WMG & The Sandbox

Warner last January 21st entered this new digital era with a couple of huge partnership. The first one is with the virtual gaming universe The Sandbox. What’s Warner’s aim with that? A hybrid place between a theme park and a location for the performances of the artists in its catalog. Warner definitely get a “Land“: a digital piece of real estate in The Sandbox metaverse. “Lands” are secured as a unique non-fungible token (NFT) on the Ethereum blockchain. As if that weren’t enough, The Sandbox will hold a land sale in March 2022, to allow music fans to purchase land near the Warner property. A partnership that sets the stage for different scenarios, from the strengthening and expansion of fanbases (both for artists and for Warner itself) to, as can be guessed, new ways of revenues.

WMG x Blockparty

Another novelty of the decade in terms of web3 and blockchain is certainly the beginning and growth of the music NFT market. Warner then entered into another partnership with the US-based digital collecting platform Blockparty. Not a common one but a trading platform that allows collectors to swap digital assets, with a great focus on its community. Now Warner artists will be among the first to take advantage of “DEX”. You may be wondering what it is. Those who use this type of decentralized exchange can sell NFTs in bundles, combine them, trade them or sell them. This provides a direct link between artist and fan/collector, without any kind of middleman.

“As technology and consumption patterns evolve, it’s imperative that we equip our artists and songwriters with all of the tools they need to participate in the virtual economy. This partnership with Blockparty furthers WMG’s Web3 reach by empowering artists and songwriters to craft their own digital stories through NFTs.” Oana Ruxandra, Chief Digital Officer & EVP, Business Development, WMG

With the majors joining the web3 in this early 2022 with investments and partnerships on blockchain technology, the strength (and an important future potential) of this field is almost formalized. As with any innovation, however, the time will come to regulate it (reminding us that legally all this is currently worthless). Between people fully immersed in this new reality, and skeptics, some doubts remain. But the truth is, we are only at the beginning.

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