Warner Music Group acquires virtual property for metaverse concerts

Warner Music Group acquires virtual property for metaverse concerts

Warner Music Group acquires virtual property for metaverse concerts

Warner Music Group (WMG) announced plans to launch a “combination musical theme park and concert venue” in virtual reality metaverse The Sandbox.

WMG thus follows in the footsteps of a growing crowd of music artists who have enthusiastically embraced the power of blockchains, the metaverse and NFTs to connect with fans.

    WMG Enters the Metaverse

    Music industry behemoth WMG, whose catalog includes thousands of artists such as Cardi B, Ed Sheeran and David Guetta, announced their first foray into the virtual world known as the “metaverse.”

    Boasting that it has obtained “the equivalent of beachfront property,” WMG will work with The Sandbox to host concerts and related events. Hoping music fans will acquire property near the site, a special land sale is planned for March, with adjacent plots possibly offering additional benefits.

    In April 2021, WMG announced a partnership with Genies to provide avatars for its artists.

    WMG was founded as Warner Brothers Records in 1958. It’s currently the world’s second-largest music publisher, with 2021 revenue over $5.3 billion. Their announcement signals strong mainstream adoption of the metaverse concert format in the near future.

    Artists Who Got There First

    WMG may be the largest music organization so far to jump into the metaverse, but it’s not the first. In fact, it appears to be taking a page from Snoop Dogg, who became active in The Sandbox since last year, selling plots near his virtual mansion and offering Private Party Passes to gain access to special events there.

    Snoop is deep into the NFT world, revealing himself as the big Dogg behind the NFT-focused Cosimo de’ Medici Twitter handle and allegedly the owner of a $17 million collection.

    Not to be outdone, Decentraland hosted a virtual music festival last October featuring over 80 artists, including Deadmau5, Alabaster dePlume and 3LAU. And in July, Decentraland-based NFT creators KnownOrigin hosted TO THE MOON, an all-day virtual concert with artists such as Voltaire, Autograf, SNBRN, Win and Woo and Ookay.

    Ariana Grande headlined the weekend-long Rift Tour last August via online video game Fortnite, drawing 78 million viewers. The event also featured Trevis Scott. Fortnite is an early metaverse adopter, hosting its first virtual concert in February 2019 with a set by DJ Marshmello.

    DJ Steve Aoki Launches His Own NFT Community

    American DJ Steve Aoki, also a prominent NFT creator and collector, has decided to take matters into his own hands by building out his own virtual world.

    Aoki is hoping to reward his fans for engaging in and contributing to the community with the launch of A0K1VERSE. an Ethereum NFT-based membership community.

    Members holding A0K1 Passport NFTs gain exclusive access to live and virtual concerts and other events, a private Discord server and more. Holders can upgrade their passports and unlock access to additional benefits with A0K1 Credits, which are ERC-1155 tokens, by taking part in community events.

    This content is for informational purposes only and is not investment advice. You should consult a qualified licensed advisor before engaging in any transaction.

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