In a news statement on Thursday, Warner Music Group announced a partnership with the OpenSea marketplace. Through the partnership, a number of WMG artists will have a platform to grow and expand their Web3 fan bases.
Through the partnership, Warner Music artists will have first access to new OpenSea goods, increased market discoverability, and dedicated and highlighted areas of the OpenSea website for prospective NFT projects. Additionally, members of the OpenSea team will provide specialist assistance to artists to help with both the growth of their Web3 fan bases and the integration of current fan communities into the NFT environment.
Warner’s Chief Digital Officer, Oana Ruxandra, stated,
“Our collaboration with OpenSea helps to facilitate these [fan] communities by unlocking Web3 tools and resources to build opportunities for artists to establish deeper engagement, access, and ownership.”
Warner Records and Jeremy Fall’s web3 business, Probably Nothing, will collaborate to release the first NFT collection as a result of the cooperation.
‘Probably A Label’ to launch the OpenSea and WMG collaboration
‘Probably A Label’, the Web3 record label Fall formed last month with Warner Records, will release NFT Label Passes as the first Warner Music/OpenSea collaboration, according to Fall’s confirmation to local media.
The NFT Label Pass will give owners access to Probably A Label’s upcoming music releases, the ability to create and invest in community-generated, IP-backed virtual musicians, as well as the ability to attend exclusive live events like artist meet-and-greets and meals with music executives.
Basis for Probably The goal of A Label is to use Web3 technology to provide musicians and their fans the chance to reclaim their ownership rights. Fall thinks that traditional music industry giant Warner Music is proven to be a fantastic partner in that effort. Fall went on to say,
“They are the type of major label that is trying to enter the space the right way, and adapt to the current climate, what culture looks like now. They’re in favor of the artists and pushing the IP conversation forward.”
The NFT Label Pass will give owners access to Studio A and Studio B in addition to music-related benefits. These IP incubators let participants pitch projects using their ownership of specific blue-chip NFTs like Bored Apes and Cryptopunks—which the studio may choose to develop, finance, market, and cosign.