Warner Music Group (WMG) has announced its big plans for the metaverse.
Partnering with The Sandbox metaverse, WMG has announced plans to create a musical theme park and concert venue in that digital world. The Warner Music Group LAND will host live concerts, experiences and events the same way a physical venue would.
This is WMG’s biggest push into NFTs and the metaverse yet. They had previously announced plans to create virtual celebrities as NFTs.
We have already seen big artists perform virtually on the metaverse, and WMG’s new venue will likely be used for similar events. They certainly have the high profile roster to draw in big crowds, first to The Sandbox metaverse, then to their venue.
“The partnership brings the open metaverse one step forward in the direction of fan-owned and community-driven initiatives,” Sebastien Borget, The Sandbox co-founder and chief operating officer said.
“We’re shaping The Sandbox as a fun entertainment destination where creators, fans, and players can enjoy first-of-a-kind immersive experiences and be more closely connected to their favorite musical artists through NFTs.”
Lots on popular metaverses like The Sandbox and Decentraland have been on high demand, and often sell-out minutes after they come on the market. They have also appreciated in value in secondary sales.