Warner Music Group is ramping up its activity in the NFT world.
Earlier this month, WMG teamed up with New York-headquartered digital collectibles platform Blockparty, striking the latter firm’s first major label partnership.
Meanwhile, just last week, WMG inked a strategic partnership with gaming virtual world The Sandbox, marking what WMG says is its “first entry into the NFT metaverse realm”.
Today (January 31), NFT platform OneOf, described as a “Green Web3 Company built for music” has announced that it has formed, what it calls, a “first-of-its-kind preferred partnership” with WMG, which will see the company create exclusive NFTs for WMG artists.
OneOf was co-founded by tech entrepreneur Lin Dai, digital media executive Joshua James, and music industry veteran Adam Fell, in partnership with Quincy Jones and Quincy Jones Productions.
The company raised $ 63 million in a seed round in May 2021 from prominent tech and music industry veterans.
In December, an unreleased Whitney Houston recording, made when she was 17, was bought as an NFT for $ 999,999 in an auction on the OneOf NFT platform.
OneOf claims that via its “Green NFT platform”, it mints NFTs that are up to “2m times more energy efficient” than its competitors.
The company also recently announced a three-year collaboration with the Grammy Awards as well as partnerships with iHeartRadio and MusiCares.
Since going live in September, OneOf says that it has launched “record breaking NFT collections” with major and independent artists including Doja Cat, Whitney Houston, Alesso, The Game, Chief Keef, Pia Mia, and more.
“Web3 is a massive leap forward in technology: it will expand the scale and scope of both human and machine interactions far beyond what we can imagine today.”
Oana Ruxandra, Warner Music Group
“Web3 is a massive leap forward in technology: it will expand the scale and scope of both human and machine interactions far beyond what we can imagine today,” said Oana Ruxandra, Chief Digital Officer & EVP, Business Development, Warner Music Group.
“Partnering with OneOf, a leader in the emerging technology space of Web3 and NFTs, gives our artists an edge in more authentically building one-to-one relationships with their fans and winning in the new Web3 economy. We’re excited to see what’s possible. ”
“From collectibles to music royalties, NFTs and Web3 represent the pulse of consumer demand and an exciting future for the music industry.”
Lin Dai, OneOf
Lin Dai, OneOf CEO added: “From collectibles to music royalties, NFTs and Web3 represent the pulse of consumer demand and an exciting future for the music industry.
“We are thrilled to partner and innovate together with Warner Music Group and use our cutting edge Web3 technology to bring their iconic labels and world-renowned artists to the next 100 million fans on blockchain.”Music Business Worldwide