The popular metaverse coin project is entering the metaverse with a music-focused theme park on The Sandbox, Warner Music Group (WMG) announced on Thursday. The partnership could bring big stars like Ed Sheeran, Bruno Mars and Dua Lipa to the metaverse for the first time. Due to the news, the altcoin price rose. For details cryptocoin.com keep reading.
WMG signs metaverse coin project The Sandbox
According to the press release, the virtual theme park will feature “concerts and musical experiences” from the label’s star-studded roster of artists including Ed Sheeran, Bruno Mars, Dua Lipa and Cardi B. The Sandbox will host a LAND sale for virtual properties adjacent to the potential festival site for fans to purchase in March. Oana Ruxandra, WMG’s chief digital officer and vice president of business development, comments in an interview:
Right now we are deeply focused on Web 3 and its impact on music. It’s incredibly difficult to rate in the face of the fandom right now. The music industry had great decades in the ’80s and ’90s, and then Napster came along and there was a pullback. Then the same thing happened when Spotify came along. We want to seize the opportunity, not behind the eight ball.
WMG isn’t the first major music company to expand its audience into virtual worlds. Metaverse coin project Decentraland hosted a three-day virtual music festival in October where artists like Snoop Dog participated in virtual meetings at The Sandbox that stretched until September.
While no one knows for sure what the companies entering Metavers will bring, it is clear that partnerships with virtual reality platforms like The Sandbox and Decentraland are a safe starting point. After the news, Sandbox’s SAND token rose to $3.54 during the day. At press time, it was trading at $3.40, up 5.5% in the last 24-hour timeframe.
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