Warner Music will hold metaverse concerts in the Ethereum game The Sandbox which is great because it is a label for Ed Sheeran, Lizzo, and Red Hot Chili Peppers so let’s read further in today’s latest crypto news.
Warner Music will open a metaverse concert venue in the Sandbox. The Group plans future virtual concerts within the metaverse and annoucned today that it partnered with an upcoming Ethereum game The Sandbox to open up a music-themed area in the shared online gaming world. The major record label will use the virtual LAND plots in the game and will create a space that serves as both a music-centric amusement park and revenue for the concerts of the artists. This is the first such label to secure a location in the metaverse. Warner didn’t disclose which artists will perform in the Sandbox but it has a hundred signed artists including Elektra, Atlantic, Ed Sheeran, Meek Mill, and Red Hot Chili Peppers. The Sandbox is an ETH-based metaverse game that allows players to buy LAND sold as NFT which can be customized and monetized in the game. The virtual land sales increased over the past few months following Facebook’s metaverse announcement and investors purchased more than $100 million worth of virtual land with the most coming from the Sandbox.
The game’s creators already partnered with more than 200 celebrities and brands including Snoop Dogg, Adidas, Atari, The Walking Dead, and The Smurfs. The Sandbox will hold a land scale back in March to allow the purchase of land plots adjacent to those that belong to Warner Music Group. The chief digital officer at WMG Oana Ruxandra said:
“There’s so much opportunity here.”
Artists are able to sell NFT collectibles in the Sandbox and including those unlock access to more benefits or experiences. The representative mentioned virtual concerts, award ceremonies, listening parties, and in-game engagement. Ruxandra added:
“We’re also looking at things like bespoke experience design and game development, which will obviously be a more limited opportunity, but a super exciting one.”
— Snoop Dogg (@SnoopDogg) January 26, 2022
Snoop Dogg who releases albums via his own Doggy Style Records Label already followed a similar playbook and has away and sold NFT party passes for a concert as well as launched NFT avatars for purchase and sold LAND plots and one such plot sold for $450,000 worth of crypto. Last year, Warner Music Group announced a partnership with Genesis which is a startup that creates cartoonish avatars and sells them on the Flow blockchain.
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