On Thursday, the Warner Music Group (WMG) announced a collaboration with OpenSea, a peer-to-peer NFT marketplace, to secure the global music label with Web3 infrastructure.
WMG is designing its first NFT collection with Web3 firm Probably Nothing, and the partnership will provide WMG artists with the tools to build and extend fan bases across Web3 platforms and services.
As part of the agreement, label artists can use OpenSea tools to engage with fans, including creating digital product drops, increasing digital discoverability, designing customised landing pages, leveraging personalised storytelling, and utilising security features.
Opensea also gives WMG artists tools to engage with fans directly, letting musicians create dedicated NFT drop pages for limited-edition projects and products. According to WMG, the OpenSea team will provide WMG artists with the support and best practices required to build Web3 communities.
Oana Ruxandra, the Chief Digital Officer & EVP, Business Development at WMG, explained that community was fundamental to the DNA of the music industry.
He continued, stating,
“The OpenSea partnership facilitates artist and fan communities by supplying Web3 tools and resources to establish deeper fan engagement, access, and ownership”
Shiva Rajaraman, OpenSea’s Vice President of Product, also said that a Web3 marketing campaign connects international fans, enabling them to express themselves across borders and languages.
He 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. We’re excited to provide the support and infrastructure to help welcome the Warner family of artists into the exciting NFT ecosystem”
OpenSea Sets its Sails Towards Web3
In early April, OpenSea significantly improved the accessibility of NFT trading by integrating traditional digital payment options to allow individuals to invest in NFT assets without needing a crypto wallet.
Via the marketplace’s MoonPay service, users can buy, sell, and mint NFTs with Visa, MasterCard, American Express, Apple, and Google Pay. Credit card users can also participate in NFTs drops, secondary trading, and NFT management using a platform-exclusive e-wallet.
In the same month, OpenSea purchased the NFT aggregate service Gem, allowing inoperable low-cost transactions across different NFT marketplaces, enhancing Openseas flexibility.
The acquisition enables Gem to continue its independent operations, but the purchase allows OpenSea to accelerate Gem’s product roadmap and integrate critical features into its platform.
Additionally, the cloud-based Metaverse content distribution ecosystem STYLY introduced Opensea integration. The move enables STYLY developers to create immersive Web3 content and monetise it on a secure blockchain marketplace.
