Warner Music Group Announces Partnership with OpenSea

Record label behemoth Warner Music Group has announced a partnership with OpenSea, with the goal of helping its artists expand into Web 3.0. 

The record label conglomerate counts some of the biggest music names among its signed artists, including Ed Sheeran, Madonna, Dua Lipa, Cardi B, and more. 

Early Access To New OpenSea Products 

The partnership with OpenSea, the world’s largest NFT marketplace, will see artists signed with Warner Music gain early access to new OpenSea products. Additionally, artists will also receive improved discoverability on OpenSea, and access to dedicated and featured portions of the marketplace for any upcoming NFT projects. Artists signed with Warner Music Group will also receive support from the OpenSea team, who will help them expand their Web 3.0 fan base and onboard existing fan communities into the NFT space. 

Oana Ruxandra, Chief Digital Officer at Warner, spoke about the partnership, stating, 

“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.”

First Collection In The Works 

The partnership’s first collection is already in the pipeline, coming from Warner Records, who have collaborated with celebrity chef Jeremy Fall’s web 3.0 startup, Probably Nothing. Fall has also confirmed that the debut collaboration between Warner Music and OpenSea will be NFT Label Passes for Probably A Label. Probably A Label is Fall’s Web 3.0 record label launched in partnership with Warner Records. 

NFT Label Pass holders will be able to license songs from an exclusive members-only music library and be able to create and own stakes in community-generated IP-backed virtual artists. They will also be able to attend exclusive live events such as artist meet and greet events and dinners with executives and also gain access to upcoming music drops from Probably A Label. 

Helping Reclaim Music Ownership Rights 

Probably A Label has stated that its mission is to harness Web 3.0 technology and enable artists and fans alike to reclaim music ownership rights. Fall has stated that Warner, one of the biggest names in the traditional music industry, is the ideal partner in this endeavor. Talking about Warner, Fall stated, 

“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. They’re in favor of the artists and pushing the IP conversation forward.”

More Benefits For Holders 

Music-related benefits are not the only thing NFT Label Pass holders are eligible for. The pass will also give holders access to Studio A and Studio B, IP incubators that allow users to leverage their blue-chip NFTs such as Cryptopunks and Bored Ape Yacht Club to pitch projects. Studios can then choose to develop, market, finance, and co-sign these projects. 

“It’s great that in the NFT space, people get IP ownership. But if you don’t know what to do with that, it’s pretty useless.”

Other Record Companies Expanding Into Web 3.0 

Other major record labels are also looking to expand into the Web 3.0 arena, increasing their presence and capitalizing on Web 3.0-related IP. Universal Group signed a deal earlier this year, allowing its signed artists to release NFTs on music-focused NFT marketplaces such as Limewire. Universal has also looked to push Beyonce’s producers, asking them to helm Kingship, a virtual band based on BAYC NFT artwork.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.