On September 29, Warner Music Group (WMG), a music and entertainment company, announced their collaboration with OpenSea, the world’s biggest peer-to-peer NFT marketplace, to create a platform for chosen WMG artists to establish and expand their fanbase in Web3.
According to the press release, the partnership will give select WMG artists priority access to OpenSea’s newly launched feature, which allows artists to release their NFT collections and limited-edition projects via their personalized drop pages.
The collaboration would also encourage dedicated support from the OpenSea team, assisting WMG artists in establishing new Web3 communities and introducing current fan communities to new types of connection and creativity enabled by NFTs.
Shiva Rajaraman, OpenSea’s Vice President of Product, expressed his excitement about the collaboration with WMG:
“For artists and musicians, NFTs represent a new creative medium and a mechanism to build community, engage directly with fans, and express themselves across borders and languages.”
He further added:
“As a massive music fan myself, I’m thrilled to work with a partner who understands the significance of this technology, and wants to use it for good – to empower artists to own their fan connections directly.”
The Chief Digital Officer and Executive Vice President of Business Development of WMG, Oana Ruxandra, also put forward her adoration for the project:
“Fundamental to music’s DNA, is community – it’s artists and fans coming together to celebrate the music that they love. Our collaboration with OpenSea helps to facilitate these communities by unlocking Web3 tools and resources to build opportunities for artists to establish deeper engagement, access, and ownership.”
The First NFT Collection Will Be Released In Collaboration With A Web3 Startup
The very first NFT collection will be released by Warner Records in collaboration with Probably Nothing, the Web3 startup company of celebrity chef Jeremy Fall.
In an interview with Decrypt, Fall revealed that the first WMG/OpenSea collaboration would involve a release of NFT Label Passes for Probably A Label, the new Web3 record label he co-founded with WGM.
NFT Label Pass owners can license songs from a members-only community music library, start creating, and own stakes in community-generated, IP-backed digital artists. They can also join exclusive live shows such as artist meet-and-greets and access Probably A Label’s up-and-coming music releases.
WMG’s collaboration with OpenSea is the latest in a series of initiatives to broaden its Web3 competency.