Warner Music Group has partnered with OpenSea, the popular NFT marketplace, which will offer a new platform to selected Web3 artists to build a new fan community. 

Warner Music Group and OpenSea and the new platform for Web3 artists and fans.

Global music and entertainment company Warner Music Group (or WMG) has announced a new partnership with OpenSea, NFT’s celebrated marketplace, to offer a new platform for Web3 artists and fans. 

Warner Music Group and OpenSea Join Forces to Expand Web3 Opportunities for Artists

— Blockworks (@Blockworks_) September 29, 2022

Basically, OpenSea’s new product drops for WMG will provide special access for its artists on a platform that will feature dedicated pages with custom storytelling on personalized landing pages and other features. 

In this way, OpenSea will help WMG artists build new Web3 communities and introduce existing fan communities to new forms of connection and creativity powered by NFTs.

In this regard, Oana Ruxandra, Chief Digital Officer & EVP, 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.”

Warner Music Group and OpenSea rely on Web3 with NFTs

The new collaboration between Warner Music Group and OpenSea focuses on using NFTs in the art and music world. 

Shiva Rajaraman, vice president of products at OpenSea, also commented: 

“For artists and musicians, NFTs represent a new creative medium and a mechanism to build community, engage directly with fans, and express themselves across borders and languages “As a massive music fan myself, I’m thrilled to work with a partner who understands the significance of this technology, and wants to use it for good – to empower artists to own their fan connections directly. We’re excited to provide the support and infrastructure to help welcome the Warner family of artists into the exciting NFT ecosystem.”

Currently, the first collection is in development and involves Warner Records UK in partnership with Web3 company, Probably Nothing. 

Metaverse of The Sandbox and play-to-earn (P2E) gaming. 

At the beginning of 2022, Warner Music Group had already entered various Blockchain-based industries, although not yet NFT.

In fact, last January, WMG signed a partnership with The Sandbox to create a music-themed virtual world so that music could also be part of the Metaverse. 

Specifically, Warner Music Group would purchase an Estate on The Sandbox to be a hybrid of a music theme park and concert venue. 

Then, the following month, WMG would also begin its collaboration with Splinterlands, the developer of games on Blockchain, so that its artists also have the opportunity to create unique games that integrate play-to-earn (P2E). 

Non-Fungible Tokens (NFTs) have expanded beyond art, GIFs, video game objects, virtual real estate, and collectibles to now include NFT music. Now, musicians who enter the fray stand to make millions of dollars by selling digital versions of their artwork and music. When it comes to non-fungible token music, it is classified as a rare item that is kept on a digital ledger. NFT music provides significant revenue prospects for creatives by cutting out intermediaries such as record label firms through their sales and generating royalties for independent musicians. NFT Music provides artists and creatives with an infinite supply of digital assets to sell and auction off to their audience.

What is NFT Music exactly?

Music NFTs are the future frontier for musicians and independent artists to generate substantial income. Simply described, NFT music is a digital asset that contains a musical composition. It could contain a tokenized version of a single song, an album, digital products, a chance to meet the artist, special tickets, or even a music video. The NFT music library will depend solely on how the artist structures and packages the NFTs.

In comparison to conventional digital music distribution, NFTs provide limitless possibilities. While music streaming sites only give users the right to listen to bought recordings, they do not offer ownership. Unlike music streaming services, music NFTs grant purchasers exclusive or shared ownership of the restricted NFT file. By definition, NFT music is exclusive and irreplaceable, and it is rapidly becoming a highly sought-after collectible. They let musicians produce music NFTs that they could auction off or sell directly to fans who pay with Bitcoin, Ethereum, and other cryptocurrencies. This puts a great deal of power back in the hands of artists, who now have another method to commercialise their art or other types of digital retail without relying on intermediaries or third parties.

In 2022, the NFT Music Industry

Since COVID-19 limits led to the cancellation of live sports, concerts, and entertainment, non-fungible tokens (NFTs) have evolved as a way for fans to interact with their favourite musicians. NFT trading volume went over $44.2 billion in 2021 and is still breaking records. By 2025, the NFT market capitalization is expected to reach $80 billion, and music NFTs are likely to make more money.

Music in addition to aiding the music business by bringing artists and fans closer together, NFTs also allow musicians to generate more cash without the need for middlemen. Others, such as Snoop Dogg and Mike Shinoda of Linkin Park, have jumped aboard the NFT party.

The Metaverse’s ascension in the Music industry

As we reach the era of the metaverse, many concerns (and suspicions) are being raised, and many businesses are discovering that this growing virtual environment might have a huge influence. The music business is not an exception. Artists, music labels, managers, and event organisers are all trying to find new ways to connect with fans and adapt to the new environment and technologies.

The metaverse potential arises at a moment when the music business is adjusting to life post-pandemic, with artists seeking new methods to contact and engage listeners and to monetize their music and performances in novel and more direct ways.

The metaverse has brought a significant shift in how we utilise and interact with technology. Augmented reality (AR) offers a digital economy where people may create, share, and monetize experiences and intellectual property by combining elements of the digital and physical worlds. Similar to the first introduction of the internet in the 1990s, what currently appears vague and unclear to some, represents a historic opportunity for many others. It is unclear if the new metaverse market will reach the estimated size of $800 billion by 2024. Still, it’s clear that key consumer-driven industries, like gaming, retail, music, and entertainment, are on the verge of explosive growth and change.

Massive opportunities await. One of the earliest virtual concerts on Roblox had Lil Nas X playing for 33 million people over the course of two days and four shows. The Rift Tour in Fortnite, which was fronted by Ariana Grande, was enjoyed by 27.7 million people. On platforms such as Roblox and Fortnite, the possibility for virtual shows and other events (such as fan meet-and-greets) is increasing.

Producing full-length radio-ready NFT tracks: NFTs are holders who gain FULL RIGHTS to your music by fusing generative audio and 3D animation

The future of music is in the hands of a new generation of artists. A generation that has grown up with digital technology and is now ready to create their own music. NFTs, or new generation of audio tracks, are the next big thing in music.

NFTs will be used by artists to produce full-length radio-ready tracks that can be used on different platforms such as streaming services like Spotify or Apple Music, as well as on CDs, DVDs, and vinyl records. They can also be used for live performances with the help of NFTs at events like concerts and festivals. However, in NFT, the musician owns full rights to his song and even has many perks, such as the ability to generate 3D animation of his song, and some people can hold his song in different market places, which results in earning more royalties. This is the major issue that plagues the music industry, as the owner does not have any rights to the song he has recorded because it all goes to the studio.

You’ve certainly heard that Justin Beiber hosted a virtual concert in the metaverse recently-and recently-and he’s not the only one. We’ve seen an increasing number of musicians take the stage in Decentraland, Sandbox, and other virtual worlds, including Travis Scott and the Astroworld crew, who performed a breathtaking set piece in Fortnite, the game. This one-of-a-kind “live” platform is open to everyone, and in a world after a pandemic, it has become a very interesting possibility. This one-of-a-kind “live” platform is open to everyone, and in a world after a pandemic, it has become a very interesting possibility.

Music has changed dramatically as a result of technological advancements.It works well with the metaverse, as shown by digital concerts, which give musicians a lot of new options and chances while giving platform developers a chance to make money from in-game purchases during these events. It works well with the metaverse, as shown by digital concerts, which give musicians a lot of new options and chances while giving platform developers a chance to make money from in-game purchases during these events.

The metaverse also ensures that fans may mingle, move about, and connect with performers, which is a significant benefit for musicians. Because of this link, we may expect artists to transition from physical to virtual settings in the near future. Let’s take a look at several virtual platforms in the metaverse that promote the music business.

Arts and music collectables are items that are often associated with high price tags and exclusivity. However, there is a new kind of art or music collectible that could change all of that royalty sharing NFTs.

A royalty sharing NFT is a digital asset that allows artists and musicians to share in the profits generated by its sale. This means that instead of just owning a piece of art or music, they can also participate in the revenue it generates. This has the potential to give them an increase in income as well as provide them with more control over their work.

Royalty-sharing NFTs are already starting to be used by some major artists and bands. For example, Mike Tyson owns a royalty-sharing NFT for his song “Believe”, which has been used in commercials and other media projects. In addition, Beyoncé has created a royalty-sharing NFT for her latest album Lemonade, which will allow fans to access exclusive content and merchandise related to the album.

There is huge potential for this sector to grow enormously in the future. As more people become aware of their ownership rights over their work, they will be more likely to invest in artistic and musical collectables using royalty-sharing NFTs. This will not only give these items increased value,value, but will also lead to increased revenue for artists and musicians.musicians.

Digital Web3 record labels music NFT charts and what that means for the future of music

In the streaming age, several self-distribution service applications such as Spotify and YouTube enable anyone to distribute their music independently. Labels have lost their manufacturing and distribution monopolies, but they continue to be the experts in music marketing and financing.Since this is the case, there are still a lot of performers who choose to sign contracts with companies and give up a lot of money. Since this is the case, there are still a lot of performers who choose to sign contracts with companies and give up a lot of money.

How can Web3 alter the music industry and address its problems? 

In the conventional music industry, record companies control the ability to determine the success of artists and the distribution of royalties.But as Web3 infrastructures and technologies get better, the power could shift from middlemen to musicians and fans. But as Web3 infrastructures and technologies get better, the power could shift from middlemen to musicians and fans.

Sony Music, a US company that represents one of the three largest record labels in the music industry, has filed an application for a trademark with the aim of releasing NFT-backed music, lyrics and videos.

Another step towards Web3: Sony Music’s new trademark to certify music with NFTs

The news was released by lawyer Mike Kondoudis on Tuesday through a tweet:

#SonyMusic has filed a trademark application for the Columbia Records logo claiming plans to use it for:
NFT Backed Media
Music + Podcast Production
Artist Management + Music distribution services
..and more!#NFTs #Metaverse #Web3 #Columbiarecords #Pop #Rock #Hiphop pic.twitter.com/xY7kRMgo1m

— Mike Kondoudis (@KondoudisLaw) September 6, 2022

The announcement shows that the American corporate giant has filed the application for the filing of a new trademark in order to be able to release, in the very near future, audio and video recordings with live musical performances authenticated by NFTs.

The trademark application covers music and artists with the Columbia Records logo, as well as online marketing, promotion, distribution, advertising and entertainment services, including podcasts and audiovisual recordings.

The various projects in which Sony Music has participated

For Sony Music, this is not the first project to ride the wave and potential of Web3.

In the past, the US giant has already shown to deeply believe in the inevitable evolution of the music world.

This is certainly demonstrated by his participation in the MarkersPlace financial round.

The platform in question closed a $30 million investment in August. The most important companies that participated were: Pantera Capital, Bessemer Venture Partners, Coinbase Ventures and Sony Music Entertainment.

In March, the company partnered with Solana Snowcrash and the music giant Universal Music Group to publish Bob Dylan and Miles Davis’ NFT collections.

The world of music is changing

Web3 is redefining the music landscape.

The new rules of the game are becoming increasingly clear and it will be finally the artists themselves that will benefit mostly.

More and more singers are choosing to use Non-Fungible Tokens in different ways.

Timbaland, for example, a famous American producer and songwriter, had left everyone speechless at the BAYC Ape Fest in NYC with the launch of his new video – “Has a meaning”. The producer had decided to center his latest track on his Bored Ape # 590 – nicknamed Congo, his musical alter ego.

All of this has been possible due to the fact that all owners of a Bored Ape can use their NFT monkey to create anything.

A marketing strategy that is proving to be truly infallible.

The BAYC community, from the very beginning, decided to hand over the IP rights of their own products to all owners of a Bored Ape, leaving them the opportunity to exploit the unlimited potential of NFTs.

Muse also recently decided to release some copies of their new album in the form of an NFT.

The album, which is currently at the top of the charts, is called “Will of the people” and sold 51,500 copies in its first week alone. Of these, only 1,000 are in NFT format.

It is also worth mentioning the MTV’s Video Music Awards on 29 August, in which Eminem and Snoop Dogg performed their new single in a Metaverse created by Yuga Labs.

MTV’s Video Music Awards themselves have even introduced a new category of awards: “Best Metaverse Performance”.

Milan, 19 July 2022, Bubble Music unveils its vertical NFT marketplace for the music industry that connects artists with music fans and blockchain.

On 19 July at Volvo Studios in Milan, Italy, Bubble Music NFT marketplace showcased the platform to an audience of entrepreneurs, investors, artists and music, art and blockchain enthusiasts.

The marketplace offers artists an innovative tool to establish their personal brand, monetize new types of content and take their connection with fans to the next level.

This means embracing music but is not limited to it, thus providing a tool to monetize previously unvaluable content.

A project that wants to revolutionize the music world

The uniqueness of the Bubble project is embodied in two strategic aspects:

1) Positioning itself in the “utility” segment, i.e., NFT projects characterized by strong tangible utility, such as access to exclusive experiences and direct earnings related to ownership of the digital asset.

2) User-experience, because it will allow opening to a non-crypto-friendly market, breaking down technological and accessibility barriers, such as wallet creation and payment system, technicalities that to date limit the NFT market to a niche.

Bubble collaborates with established and emerging artists by allowing visibility to extra-musical content previously impossible to exploit, such as exclusive experiences and the chance to participate in high-impact social activities directly with their favorite artists.

Established artists will have a space to give visibility to all artistic expressions and extra-musical activities that were previously not monetizable and a tool that can maintain and strengthen the bond between the fan and the artist and create innovative projects of possible media interest even in moments of non-musical publication.

Emerging artists will have the opportunity to enjoy unprecedented visibility among music and crypto enthusiasts, monetizing their growth potential and thus gaining an alternative and meritocratic channel to fund the startup phase of their career.

Cubble is the utility token designed to interact with the Bubble ecosystem.

By definition, a utility token is designed to give access to specific services within a given ecosystem. The Cubble token serves to enhance and make unique the experience of users and artists interacting with the marketplace.

Matteo Casadio, President of Bubble, states:

“We are proud and excited about the BUBBLE platform. We believe that NFTs represent a structural pillar of the society of the future, not only in music. Therefore we feel it is our responsibility to spread the word about NFTs and create culture and awareness of the topic”.

Antonio Marotta, co-founder and head of Bubble Relations, states:

“Music is a commodity and therefore a powerful communication channel. We are excited because with Bubble and by collaborating with musical artists we have the opportunity to convey impactful messages, to get people talking about important social and environmental issues and take action on them giving power and meaning to NFT projects”. 

Bubble Music

Bubble Music is a vertical NFT marketplace for the music industry that connects artists with music and blockchain enthusiasts. Bubble makes NFT technology an accessible opportunity for all music artists to create, monetize, certify and distribute content that was previously unfeasible or difficult to manage.

Bubble’s technological goals are to spread the blockchain culture through the promotion of its innovative and useful aspects that to date remain in the shadows due to the strong speculation present in this sector, and to spread the technology to the mass market through the simplification of platform structures, social trading logics, and the breaking down of technological barriers that prevent inexperienced users from approaching the blockchain world.