In recent years, Warner Music Group has multiplied partnerships with other giants, especially those in the world of Web3. Its main goal is to stay on top of the global music industry. And among these many partnerships, the most recent and very promising one is that with OpenSea. A platform that is considered the world’s leading market for NFTs (Non-Fungible Tokens). What do you need to know about this collaboration?
WMG: why a collaboration with a player in the world of crypto currencies?
The partnership between WMG and OpenSea will give birth to the NFT Label Pass. This label will be the main key to access a large number of advantages. Indeed, according to the agreements of this win-win partnership, any holder of the NFT Label Pass can:
- Obtain licenses for all songs that come from the members-only community music library;
- Create and have shares in virtual artistic productions generated by the community and protected by intellectual property;
- Attend exclusive live events like meet-and-greets and gala dinners with music influencers;
- Get privileged access to upcoming music streams from Probably A Label.
In addition to all these advantages, the NFT Label Pass will allow its holders to access Studio A and Studio B. They can also have access to the company’s incubators.
Partnership between WMG and OpenSea: what advantages for artists?
Warner Music Group is a global music and entertainment company. As a reference, Warner Music Group has signed great artists like Madonna, Dua Lipa, Cardi B or Ed Sheeran.
Regarding OpenSea, it is a marketplace in decentralized finance which allows you to buy an NFT or sell it. We can thus completely understand that artists wonder how a partnership between two giants from two opposite worlds could be useful to them.
Admittedly, this collaboration may seem trivial at first sight. However, in practice, the combined strengths of these two companies will allow Warner Music Group artists to benefit from:
- Early access to the new product of the OpenSea platform,
- From a better discovery of the world of musical production,
- Personalized storytelling on personalized landing pages,
- Features guaranteeing the security of state-of-the-art works on OpenSea.
In addition to all these benefits, this partnership should lead to dedicated support that will benefit from the best practices of the OpenSea team. This will help Warner Music Group artists to build new Web3 communities.
They will also be able to integrate the fan communities that already exist, to new forms of connection and creativity fueled by non-fungible tokens (NFTs).
Finally, this collaboration between Warner Music Group and OpenSea will allow each WMG artist to have their own page which can accommodate unlimited publishing projects.
The main benefit here is that fans of each artist will be able to access new possibilities to engage with their favorite artist’s music.
