Warner Music Group has shown a strong interest in aligning Web3 and its artists and has partnered with OpenSea, the world's largest NFT marketplace, to achieve this. The main objective is to enable multinational's musicians to expand their interactions and fan base using the next generation of the web.
The collaboration will allow WMG artists to access the benefits of the new content on the NFT marketplace, as well as other exclusive features. The platform will open up specific support for WMG artists, which will help build new Web3 communities.
The multinational production company seeks to increase its presence in the crypto space, seeing it as an opportunity to introduce "existing fan communities to new forms of connection and creativity powered by NFT." The company's artists will have their own space at OpenSea, where users will be able to trade limited edition products.
“For artists and musicians, NFTs represent a new creative medium and a mechanism to build community, engage directly with fans, and express themselves across borders and languages,” says Shiva Rajaraman, OpenSea’s Vice President of Product.
The digital director and executive vice president of WMG, Oana Ruxandra, assures that fans are the lifeblood of music since they are the ones who follow artists to celebrate their music. Ruxandra says the collaboration will give communities greater access to Web3 tools and resources, allowing them to "create opportunities for artists to establish deeper engagement, access and ownership."