he global music and entertainment company, Warner Music Group, has announced a joint venture with OpenSea, the industry's best peer-to-peer marketplace for NFTs, to offer a platform for chosen WMG artists to construct and broaden their fan groups in Web3.
As part of the agreement, WMG artists will have early access to OpenSea's new drops product, as well as enhanced discoverability, personalized storytelling on customized pages, and OpenSea's industry-leading security and safety capabilities.
This would additionally unleash real support and practice guidelines from the OpenSea team, assisting WMG artists in building new Web3 communities and bringing established fan communities to new types of relationships and innovation fueled by NFTs.
Furthermore, WMG artists would be given their own dedicated drop page to attend limited-edition projects, opening up new avenues for fans to interact with music and artists.
"Fundamental to music's DNA is the community," said Oana Ruxandra, Chief Digital Officer & EVP, Business Development, WMG. "It's artists and enthusiasts emerging together to commemorate the piece that they love. Our partnership with OpenSea aims to help these societies by making Web3 tools and resources available to artists to create greater engagement, access, and ownership opportunities.
"NFTs represent a brand-new creative medium and a mechanism for musicians and artists to create community, directly engage with fans, and convey themselves all over borders and languages," says Shiva Rajaraman, Vice President of Product at OpenSea.
"As a huge fan, I'm thrilled to be working with a peer who understands the importance of this technology and desires to use it for good - to empower artists to own their fan connections directly." We're thrilled to provide the infrastructure and support needed to encourage the Warner family of creatives into the exhilarating NFT ecosystem."
The very first accumulation is currently being produced with Warner Records UK in partnership with Probably Nothing, a Web3 company.
In recent years, Warner Music's industry-leading approach has resulted in collaborations with a number of Web3 industry leaders. This latest collaboration is the latest in a long line of efforts to expand the music label's expertise in the field.
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