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Warner Music Group Announces New NFT-Based Partnership

Blockparty, a digital collectibles platform, recently announced its first major-label collaboration with the record label, Warner Music Group (WMG), giving WMG singers exposure to standard Web3 technology in the non-fungible tokens world (NFTs). Furthermore, as part of the deal,  Warner Music artists will be among the first to use Blockparty’s decentralized exchange (DEX). This trading platform focuses on the community and allows NFT collectors to interchange digital assets in a way that has never been possible before.

Artists and creators will be able to engage in NFT exchanges for the first time, thanks to Blockparty’s DEX. In addition, those who use the DEX can sell their NFTs bundles, which allows them to swap, trade, or sell many NFTs at once. Through this unique experience, creators, artists, collectors, and fans can now deal directly by cutting out the intermediaries.

Reactions to the partnership

Reacting to the partnership, Vladislav Ginzburg, CEO of Blockparty, said,  “We’re elated to be working with Warner Music Group, a company that continues to sit on the edge of technological and entertainment-based innovation. We look forward to tapping into our expertise and creativity as we work with individual artists to ensure they have all of the tools they need to participate in Web3 and do so in ways that are unique to them, their brand, and their communities. Early access to our DEX will give WMG artists the ability to both expand their audience to reach Web3 enthusiasts, and foster deeper connections with their existing community by amplifying fan experiences.”

Warner Music Group’s Chief Digital Officer & EVP, Ona Ruxandra, remarked, “As technology and consumption patterns evolve, it’s imperative that we equip our artists and songwriters with all of the tools they need to participate in the virtual economy. This partnership with Blockparty furthers WMG’s Web3 reach by empowering artists and songwriters to craft their own digital stories through NFTs.”

The news of this partnership comes months after Warner Music Group’s NFT-related global partnership in April last year with Genies. The deal was called “the world’s largest avatar technology company”.However, WMG’s collaboration with Blockparty might even eclipse the former.

The first NFT drop with Warner Music Finland’s superstar STIG, who is releasing a series of NFTs, is boosting the alliance ahead. STIG plans to use these tools to launch NFTs that capture his signature mustache and collection of contemporary 5-panel caps. STIG has huge ambitions for the metaverse and is said to be conversant with the blockchain scene.

WMG, a legacy hub

WMG is one of the oldest and most successful organizations globally and has a 200-year history of bringing artists, songwriters, and entrepreneurs who are shaping entertainment trends in the world. WMG’s Recorded Music division includes renowned labels such as 300 Entertainment, Asylum, Atlantic, Big Beat, Canvasback, Elektra, Erato, First Night, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Rhino, Roadrunner, Sire, Spinnin’, Warner Records, Warner Classics, and Warner Music Nashville. Furthermore, it operates in more than 70 countries through a network of associates and franchises.

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