Warner Music Group (WMG) announced on Thursday that it will enter the metaverse through The Sandbox, with the company slated to launch a music-focused theme park.
Warner Music Group, a global music label headquartered in New York and owning a number of popular labels including Atlantic, Warner Records, Elektra and Parlophone, plans to open a ‘Concert Theme Park’ in the Sandbox Metaverse .
According to a press release, the virtual theme park will feature “concerts and musical experiences” featuring stars such as Ed Sheeran, Bruno Mars, Dua Lipa and Cardi B from popular musicians on the label’s artist roster. So this partnership will enable these big stars to meet the metaverse.
Alongside the theme park, The Sandbox will host a LAND sale in March for fans to purchase virtual properties adjacent to the potential festival site.
Oana Ruxandra, WMG’s chief digital officer and vice president of business development, explained the partnership in an interview with CoinDesk:
“We are currently very focused on Web 3 and its impact on music…. The same thing happened when Spotify came along. We don’t want to be left behind, we want to seize the opportunity and be in the driver’s seat.”
WMG isn’t the first major music company to try to expand their audiences through virtual worlds. In October, metaverse game Decentraland hosted a three-day virtual music festival. Even artists like Snoop Dog have been busy holding virtual meetings at The Sandbox since September.
This is the #metaverse… A live rave happening right now in @decentraland for the upcoming @LightbulbmanNFT release by #BjarneMelgaard. Music from @feedelity @prins_thomas @mightbetwins #NFTdrop #rave #virtuallevent #NFTCommunity pic.twitter.com/aC4WYRbgH9
— Alex Moss (@alexmoss) January 20, 2022
While no one is sure exactly what a company’s entry into the metaverse entails, it’s clear that partnerships with virtual reality platforms like The Sandbox and Decentraland are a safe starting point.
Sandbox’s SAND token, which has risen to 3.54 levels today with an upward climb that started at approximately 7:00 am in Turkey time, is trading at $3.40 with an increase of about 9 percent in the last 24 hours at the time of writing.
Also earlier today, the platform announced a $50 million incubation program for metaverse start-ups.
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