Warner Music Group has partnered with digital collectibles platform Blockparty to allow the label’s artists to trade NFTs, the label announced Friday (Jan 21). WMG is the first major label to partner with Blockparty.
The deal will allow Warner Music artists to utilize Blockparty’s decentralized exchange to swap, trade, and sell NFTs directly with other users. WMG has led the way on partnering and investing in the metaverse and Web3 when it comes to the major labels, spearheading a number of partnerships with next-generation startups including avatar tech company Genies, immersive tech startup Wave, and a very early investment in Dapper Labs, the blockchain startup that powers NBA Top Shot, the league’s NFT marketplace.
“As technology and consumption patterns evolve, it’s imperative that we equip our artists and songwriters with all of the tools they need to participate in the virtual economy,” said Oana Ruxandra, WMG chief digital officer and executive vp business development, in a statement. “This partnership with Blockparty furthers WMG’s Web3 reach by empowering artists and songwriters to craft their own digital stories through NFTs.”
“We’re elated to be working with Warner Music Group, a company that continues to sit on the edge of technological and entertainment-based innovation. We look forward to tapping into our expertise and creativity as we work with individual artists to ensure they have all of the tools they need to participate in Web3 and do so in ways that are unique to them, their brand, and their communities,” added Vladislav Ginzburg, CEO of Blockparty. “Early access to our DEX will give WMG artists the ability to both expand their audience to reach Web3 enthusiasts and foster deeper connections with their existing community by amplifying fan experiences.”