Warner Music brings the theme park to The Sandbox

There’s been a lot of talk about how brands can leverage the metaverse to create exciting and immersive experiences that provide fans with access, entertainment, and products. Now, Warner Music Group (WMG) has teamed up with The Sandbox, a leading decentralized metaverse, for a project that could show the true potential of virtual reality worlds.

The deal will bring gigs from top WMG recording artists like Bruno Mars, Twenty One Pilots and Ed Sheeran – as well as past blasts from Madonna to Metallica – to The Sandbox.

Blockchain-based metaverses are virtual reality worlds that sell “land” of non-fungible tokens (NFTs) that can be developed with anything from games and art galleries to virtual retailers and arcades. concert. Users create avatars, digital versions of themselves that can be customized with NFT clothing, purchase NFT products, and even purchase real-world products from virtual marketplaces.

See also: What is a metaverse and why do we organize a fashion show?

Concerts have been one of the big draws of virtual realities, with artists like Travis Scott and Arianna Grande drawing huge crowds – and selling millions of dollars in tickets and NFT merchandise – in metaverses like The Sandbox, Decentraland and the non-blockchain Fortnite, which is transforming itself from a massively multiplayer online (MMO) playground into a metaverse with a very large gaming component.

Read also: Is the metaverse gambling, trading or escapism?

Metaverses burst into public consciousness in a big way in October, when Mark Zuckerberg renamed Facebook, calling the company Meta. At the time, he said the company would transform into a metaverse, which he believed to be the future of social media.

Meta is not alone. Brands from Gucci to Samsung to Walmart have experimented with, or at least expressed serious interest in, metaverses as branding and business opportunities.

See more : Walmart meets Meta in the Metaverse

Sing his praises

Record label major WMG announced in a press release Thursday (January 27) that it has entered into a strategic partnership with Animoica Brands’ The Sandbox to build the “first music-themed world” of the best metaverse, Warner Music GroupLAND.

Describing the virtual venue as “a combination musical theme park and concert venue,” WMG said in the statement that it “will feature concerts and musical experiences featuring WMG’s roster of premier artists. “.

The first artists to explore metaverse gigs met with huge success. Travis Scott has played for 12.3 million Fortnite fans, and Arianna Grande has attracted 78 million.

Read also: Are Fortnite concerts the future of live music?

The WMG deal marks a major music company’s first entry into a metaverse. The company’s labels include Atlantic, Warner Records, Elektra and Parlophone.

“We will develop persistent and immersive social music experiences that challenge the boundaries of the real world and allow our artists and their fans to engage like never before,” said Oana Ruxandra, Chief Digital Officer and Executive Vice President of commercial development of WMG, in the press release.

Co-founder and COO of The Sandbox, Sébastien Borget, added in the press release: “We are shaping The Sandbox as a fun entertainment destination where creators, fans and gamers can enjoy never-before-seen immersive experiences. and be more closely connected to their favorite musical artists via NFTs”.

It’s a coup for The Sandbox, which is battling Decentraland for the #1 metaverse position on the blockchain. Other partners include individual musicians like Snoop Dogg, Deadmau5, and Steve Aoki, as well as entertainment properties ranging from “The Walking Dead” to “The Smurfs.”

The WMG deal, Borget said in the release, “moves the open metaverse forward in the direction of fan-owned and community-led initiatives — the possibilities are very exciting.”

This isn’t WMG’s first dip in the blockchain pond. In April, it announced a partnership with developer NFT Genies to create avatars and digital clothing for its artists.

See also: In the metaverse, NFTs can buy experiences, luxuries, and eyeballs

Virtual Land Rush

One aspect of Metaverses is that neighborhoods and entertainment districts are popping up, making certain patches of virtual property — The Sandbox calls them LANDS — more valuable than others, just like in any other city in the real world. In some cases these are planned – Decentraland has the Voltaire Art District, where virtual art auctioneer Sotheby’s has just landed, but some will grow naturally.

Read more: Experiential Marketing Meets Social Commerce in the Metaverse

The Sandbox is planning a sale in March of “coveted” LAND plots near the future WMG site. It is clear that WMG will participate in this action.

“Our partnership with The Sandbox adds a new layer of possibilities in the metaverse, with the ownership of virtual real estate,” Ruxandra said in the release. “As a trailblazer, Warner Music has secured the metaverse’s equivalent of a beachfront property.”

See also: Metaverse land prices reflect real-world real estate as investors flock to virtual worlds

It should be noted that this is not just hype. In December, someone paid $450,000 to be the neighbor of metaverse early adopter Snoop Dogg, who responded to a story link tweeted about the sale by Tweeter“It’s an affair.”

——————————

NEW PYMNTS DATA: ACCOUNT OPENING AND LOAN SERVICE IN THE DIGITAL ENVIRONMENT

On: Forty-two percent of US consumers are more likely to open accounts with financial institutions that facilitate automatic sharing of their bank details upon sign-up. The PYMNTS study Account opening and loan management in the digital environmentsurveyed 2,300 consumers to explore how FIs can leverage open banking to engage customers and create a better account opening experience.

Comments are closed.