Linked to the Sandbox Metaverse platform, Warner Music Group is working on the creation of a musical Metaverse, the latest partnership.
Warner Music Group (WMG) and The Sandbox are partnering to create a music-themed virtual world. In an announcement on Jan. 27, The Sandbox said that it is the first time Warner has entered the realm of NFTs and the Metaverse.
A Sandbox team member added that WMG purchased an “ESTATE” that will serve as a portal for the firm’s artists to appear in the Metaverse.
According to the American multinational entertainment and record label conglomerate:
Warner Music’s partnership with The Sandbox offers a new layer of potential in the metaverse, with the acquisition of virtual real estate. As a first-mover, Warner Music has acquired the equivalent of beachfront property in the metaverse.
The Musical Metaverse:
WMG’s Chief Digital Officer, Oana Ruxandra, went on to explain that the company will create “permanent, immersive social music experiences that defy traditional limitations and let our artists and their fans engage in ways that have never been possible before” on its newly acquired slice of the Metaverse.
As a hybrid theme park and concert venue, “ESTATE” will host Warner’s biggest stars.
Previously it was stated that the Sandbox, which announced plans for a Hong Kong-linked mega-city earlier this month, is planning to sell LAND near this new venue. This will allow music fans to own a virtual plot close to the action.
The Sandbox co-founder and COO, Sebastien Borget, commented: “This partnership takes the open metaverse one step further in the direction of fan-owned and community-driven initiatives – the possibilities are endless.”
In addition to WMG, Sandbox has over 200 other partnerships. Sandbox is one of the largest music businesses in the world, with hundreds of renowned labels and artists.
The Sandbox also announced this week the launch of a $50 million accelerator programme in partnership with parent company Animoca Brands and venture firm Brinc. Sandbox Metaverse Accelerator Program is scheduled to start in Q2, 2022, and will invest $250,000 into a hundred emerging projects.
