The fact that the NFT market is currently quiet and trading volumes are falling completely through the ice does not mean that there are no developments. What you often see is that large steps are taken in the right direction in the bear market. This is also the case with a collaboration between OpenSea and the large Warner Music Group.
What can we expect from this collaboration?
The idea of the partnership is to give Warner Music artists early access to new products on OpenSea and bring them to the forefront as they publish new stuff on the marketplace.
Artists also get help from the OpenSea team to better profile themselves in the world of Web3 and to get their existing fan base into the NFT world. In this way, it becomes a collaboration that benefits both sides.
OpenSea benefits from the huge fan bases of artists such as Madonna, Cardi B, Dua Lipa and Ed Sheeran, while they in turn benefit from the Web3 expertise and OpenSea’s large user base.
“Our partnership with OpenSea makes available Web3 tools that enable our artists to connect more deeply with their fans and give them new forms of access and ownership,” said Oana Ruxandra, Warner’s Chief Digital Office.
First project is already on the schedule
The first project that Warner Music and OpenSea will undertake together is the launch of NFT Label Passes for Probably A Label, the Web3 record label that Warner Records launched last month.
the internet’s mixtape pic.twitter.com/vvAyP9omOv
— Probably A Label 💽 (@probablyalabel) August 26, 2022
The NFT Label Pass allows holders to license songs for a ‘members-only’ music library and many more exclusive things such as access to live events and meetings with the artists themselves.
Probably A Label’s big mission is to use Web3 technology to empower artists and their fans to make the music truly theirs again. With a big name like Warner Music acting as the driving force behind the project, little can go wrong.
