Warner Music Group is gaining momentum in the world of NFT.
Earlier this month, WMG partnered with New York-based digital collectibles platform Blockparty, sealing the latter’s first major partnership with a brand.
Meanwhile, last week WMG signed a strategic partnership with virtual gaming 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 “Web3 green company built for music”, 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 recording by Whitney Houston, made when she was 17, was purchased as NFT for $999,999 at an auction on the OneOf NFT platform.
OneOf claims that through its “Green NFT Platform” it mints NFTs that are up to “2 million times more energy efficient” than 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 has announced that it has launched “record NFT collections” with major and independent artists, including Doja Cat, Whitney Houston, Alesso, The Game, Chief Keef, Pia Mia, and more.
“Web3 is a huge leap forward in technology: it will expand the scale and scope of human and machine interactions far beyond what we can imagine today.”
Oana Ruxandra, Warner Music Group
“Web3 is a huge leap forward in technology: it will expand the scale and reach of 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 Web3 and NFT technology space, gives our artists an edge to more authentically build one-on-one relationships with their fans and win in the new Web3 economy. We are thrilled. to see what is 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, one of
Lin Dai, CEO of OneOf, 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 with Warner Music Group and use our cutting-edge Web3 technology to bring their iconic labels and world-class artists to the next 100 million fans on the blockchain.”The music industry around the world
