On Thursday, 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 company Probably Nothing, and the partnership will give WMG artists the tools to build and grow 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, enhancing digital discoverability, designing custom landing pages, leveraging personalized stories, and leveraging security features.
Opensea also provides WMG artists with tools to engage directly with fans by allowing musicians to 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 needed to build Web3 communities.
Oana Ruxandra, Chief Digital Officer & EVP, Business Development at WMGstated that community is fundamental to the DNA of the music industry.
He continued and explained,
“The OpenSea partnership facilitates artist and fan communities by providing Web3 tools and resources to create deeper fan engagement, access and ownership.”
Shiva Rajaraman, Vice President of Product at OpenSeaalso said that a Web3 marketing campaign will connect international fans and allow them to express themselves across borders and languages.
“As a huge music fan myself, I’m thrilled to be working with a partner who understands the importance of this technology and wants to use it for good – to give artists the power to directly own their fan connections. We are excited to provide the support and infrastructure to welcome the Warner family of artists to the exciting NFT ecosystem.”
OpenSea sets sail 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 the need for a crypto wallet.
Through the marketplace’s MoonPay service, users can buy, sell, and mint NFTs using Visa, MasterCard, American Express, Apple, and Google Pay. Credit card users can also participate in NFT drops, secondary trading, and NFT management through a platform-exclusive e-wallet.
In the same month, OpenSea acquired the NFT aggregation service Gem, which enables non-functional, low-cost transactions across various NFT marketplaces and increases Opensea’s flexibility.
The acquisition allows Gem to continue its independent operations, but the purchase allows OpenSea to accelerate Gem’s product roadmap and integrate key capabilities into its platform.
In addition, the cloud-based Metaverse ecosystem for content distribution STYLY introduced the Opensea integration. The move enables STYLY developers to create immersive Web3 content and monetize it on a secure blockchain marketplace.