Warner Bros Invests in Meta Fashion Group

On Dec 17, 2022

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Warner Music Group and DressX, a digital fashion marketplace, have joined forces to provide Web3 fans and music aficionados with virtual goods, or “verch,” as they like to call it. A set of 3D avatars with varying levels of exclusivity will be created as a result of the new cooperation.

The Warner Music Company Chief Digital Officer, Oana Ruxandra, explained why the decision to create digital clothing puts both the performers and the fans one step ahead, given that the transition from password and username logins to digital identification in the Web3 is already underway.

Ms. Ruxandra believes that “the portrayal of our new digital identities will be as important—if not more so—than how we portray ourselves physically if you judge by the sheer volume of interactions.” Indeed, the most well-known social networking sites, including Facebook and Instagram, are compatible with the 3D wearable avatars.

WMG Enters the Web3 Space

Significant partnerships have been struck by the enormous music company thus far this year. The Warner Brothers originally collaborated with The Sandbox (SAND), a well-known blockchain-based game, to develop their initial music metaverse experience. With countless opportunities for interaction between fans and performers, it resembles a hybrid of a concert venue and a theme park for music.

Second, by collaborating with OpenSea, the largest NFT marketplace, to develop customized pages for recording artists on the leading NFT platform, the major record label reaffirmed its dedication to Web3.

Third, Warner Music Group (WMG) established an area specifically for NFT and Web3 projects. The NFT Record Pass is available to crypto lovers looking for unique material from their favourite musicians. The NFT Record Pass may, in certain circumstances, grant ownership of the music in addition to acting as a pass to in-person exclusive events like meet & greets.

Web3 Push

The music, as well as entertainment giants, collaborated with The Sandbox of Animoca Brands to introduce a virtual environment with a musical theme in January of this year. Warner Music Group’s initial foray into the Web3 market included the acquisition of “Estate.”

To set the scene, it was mentioned that “ESTATE” will serve as a conduit for Warner’s artists to emerge in the metaverse. It is a cross between a musical amusement park as well as a performance venue.

A month later, Warner, a record label, entered the blockchain gaming market by teaming up with Splinterlands, a developer. The goal of the agreement was to create mobile-friendly, available games by shifting toward arcade-style gaming to boost community development more effectively than with traditional play-to-earn (P2E) games.

Scope of Digital Fashion for Musicians & Celebrities

In addition to working with as well as investing in the online clothing shop DRESSX, Warner Music Group has selected WMG artists who will have a platform to create their virtual clothing collections thanks to this groundbreaking relationship.

The deal states that artists will work closely with DRESSX to create and introduce 3D and AR virtual apparel for fans to acquire and enjoy on Instagram, Snapchat, as well as other platforms. The agreement will provide fans with more ways to demonstrate their support for musicians while opening up new avenues for artists to make money.

“The portrayal of our future digital identities will be equally significant and, if you’re gauging by the sheer volume of contacts, maybe more essential than how we portray ourselves physically,” asserts Oana Ruxandra, Chief Digital Officer and also EVP, of Business Development at Warner Music Group.

Building such Web3-based collaborations, she continued, will be a significant emphasis for the company moving forward. According to Daria Shapovalova as well as Natalia Modenova, co-founders of DRESSX, items by singers “will surely be a cornerstone of the virtual wardrobes of fans,” just like it is in real life.

They claim that “digital fashion is a pictorial medium for communicating and forming connections online.” All of this proves that the virtual world is a continuation of the physical world. Celebrity fashion collaborations in real life are a successful industry. Harry Styles with Gucci, Billie Eilish with Nike, Bad Bunny with Adidas, as well as Tyler the Creator with Converse are a few notable recent collaborations.

Metaverse May Just be the Next Big Thing

But the scale has already begun to turn toward the metaverse this year. Former Topshop collaborator and supermodel Kate Moss joined forces with jewellery company Messika to make an appearance as a special avatar on Lucy Yeomans’ interactive style game Drest.

Additionally, the first mint passes of the new web3-based retro fashion label MNTGE were just published this week. The label will collaborate with artists to create digital layers, or INKS, to be placed on virtual reproductions of antique clothing. It was co-founded by Adidas associate Sean Wotherspoon, music entrepreneur Nick Adler, and branding expert Brennan Russo.

Shapovalova and Modenova concur, saying, “It’s nice to see that a growing number of stakeholders trust in this new sector that is already drastically altering the fashion business.”

Since DRESSX’s launch in 2020, there are now more than 3,000 digital products available, making it the largest marketplace for digital-only fashion. Along with a large number of other companies, DRESSX has collaborated with Coca-Cola, Google, Snapchat, Roblox, Meta, and Farfetch.

Conclusion

Warner Music Group, an American conglomerate of record labels and the entertainment industry, has recently partnered with DressX, a digital retailer of clothing, and invested in the company. As per the deal, DressX and Warner Recording artists will work together to develop and release 3D as well as AR virtual clothes that fans can access and collect on a variety of social media platforms, including Instagram, Snapchat, as well as other platform partners.

DressX had teamed with Meta (formerly Facebook) earlier this summer and started selling clothes in the Mark Zuckerberg-led company’s Avatar Store. This was the first time a fashion brand that was born digitally had the chance to attend an event hosted by a social networking mogul among prestigious luxury brands like Prada, Balenciaga, as well as Thom Browne.

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