Gaming and metaverse company The Sandbox formed a partnership with Warner Music Group, or WMG, on Thursday to build a virtual musical theme park and concert venue. The Warner Music Group’s LAND in The Sandbox will showcase concerts and live events showcasing WMG-represented talented artists and creators.
🤝 Join us in welcoming none other than… @warnermusic to The Sandbox! 🎶
Their LAND will be the first of its kind in the #Metaverse which will feature live concerts & music experiences from WMG’s huge roster of musical talent!
— The Sandbox (@TheSandboxGame) January 27, 2022
Warner Music made its first foray into the non-fungible token (NFT) metaverse with this venture. The company’s purpose is to develop engaging social experiences that will empower Warner Music artists. The Sandbox might give artists a new way to interact with their fans, try out virtual entertainment, and establish new money streams while reaching a worldwide audience.
The Sandbox intensifies fan-owned and community-driven initiatives
The agreement “brings the open metaverse one step forward in the direction of fan-owned and community-driven initiatives,” according to Sebastien Borget, chief operations officer and co-founder of The Sandbox.
He further adds that the company is transforming itself into a fun hotspot through NFTs where producers, fans, and gamers can enjoy one-of-a-kind immersive experiences and be closer to their favorite musical artists.
Digital land is still in high demand, and the metaverse company has become one of the most competitive metaverses to rival Decentraland (MANA) due to its consistently high trading volume. The Sandbox is going to organize a LAND sale in March 2022, according to the firm, to allow music lovers to purchase LANDS next to the WMG property.
WMG, which includes record labels such as Atlantic, Warner Records, Elektra, and Parlophone, is the latest partner to purchase real estate within The Sandbox metaverse, joining stars like Post Malone, Snoop Dogg, The Walking Dead, Steve Aoki, The Smurfs, and companies like Adidas, Nike, Lamborghini, and CryptoKitties.
Social media apps like Facebook, Instagram, and Reddit are also integrating NFTs into their platform. As TheCoinRise reported, Republic has launched security NFTs, giving music artists and fans the opportunity to benefit from the creation, production, and licensing of music.