2 years ago
Warner Music Group (WMG) is entering the metaverse with a music-focused taxable parkland successful The Sandbox, the institution announced Thursday.
WMG is the proprietor of a slew of fashionable euphony properties, including grounds labels Atlantic, Warner Records, Elektra and Parlophone.
The taxable parkland volition diagnostic “concerts and philharmonic experiences” from the euphony company’s star-studded roster of artists, which includes the likes of Ed Sheeran, Bruno Mars, Dua Lipa and Cardi B, according to a property release.
As portion of the announcement, The Sandbox volition beryllium hosting a LAND merchantability for virtual properties adjacent to the prospective festival tract for fans to acquisition successful March. Consider it the latest firm foray into the immersive experiences that immoderate are calling the aboriginal of the internet.
“We are profoundly focused connected Web 3 close present and the interaction it volition person connected music. It’s incredibly hard to enactment worth against fandom close now,” Oana Ruxandra, EVP of concern improvement astatine WMG, told CoinDesk successful an interview. “The euphony manufacture had large decades successful the ’80s and ’90s, and past Napster came astir and determination was a pullback. Then the aforesaid happening happened erstwhile Spotify came in. We privation to beryllium driving opportunity, not down the eightball.”
WMG isn’t the archetypal large euphony subordinate looking to grow its assemblage into virtual worlds. The metaverse crippled Decentraland hosted a three-day virtual euphony festival successful October, with artists similar Snoop Dog having toyed with virtual gatherings successful The Sandbox dating back to September.
While nary 1 knows for definite what companies getting into “the metaverse” volition entail, it’s wide that partnerships with games similar The Sandbox and Decentraland are a harmless starting point.
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