Gigantic record label conglomerate Warner Music Group announced on Sept. 29 that it would partner with NFT marketplace OpenSea to accelerate its artists’ expansion into Web3. The first joint project will be an IP-generative ‘NFT Label Pass’ developed by Web3 startup Probably Nothing.
According to a statement, the collaboration will grant Warner Music artists early access to new OpenSea products, improved discoverability on the NFT marketplace, and dedicated and featured portions of the OpenSea site for upcoming NFT projects. Artists will also receive specialized support from OpenSea team members to aid both in the expansion of their Web3 fan bases and in the onboarding of existing fan communities into the NFT space.
“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’s Chief Digital Office Oana Ruxandra stated.
As a result of the partnership, the first NFT collection will come from Warner Records and celebrity chef Jeremy Fall’s Web3 startup Probably Nothing.
Jeremy Fall confirmed that the debut collaboration would be a release of NFT Label Passes for Probably A Label, the Web3 record label launched last month with Warner Records.
The NFT Label Pass will allow holders to license songs from a members-only community music library, to create and own stakes in community-generated, IP-backed virtual artists, to attend exclusive live events like artist meet-and-greets and dinners with music executives, and to access Probably A Label’s upcoming music drops.
Core to Probably A Label’s mission is harnessing Web3 technology to allow artists and their fans to reclaim music ownership rights. Fall believes Warner Music is proving to be a great partner in that endeavor.
“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,” Jeremy told Decrypt. “They’re in favor of the artists and pushing the IP conversation forward.”
Besides music-related benefits, the NFT Label Pass will also grant holders access to Studio A and Studio B, IP incubators that allow participants to pitch projects leveraging their ownership of select blue-chip NFTs like BAYC and Cryptopunks.
Oana Ruxandra, CDO and executive VP of business development at WMG, said:
“Fundamental to music’s DNA is community – it’s artists and fans coming together to celebrate the music that they love. Our collaboration with OpenSea helps to facilitate these communities by unlocking Web3 tools and resources to build opportunities for artists to establish deeper engagement, access, and ownership.”
Earlier, Cointelegraph revealed that Warner Music Group had announced a partnership with fantasy-themed collectible card game developer Splinterlands to create and develop play-to-earn, arcade-style blockchain games.