Warner Music Partners With OpenSea So That Artists Can Falls Into NFT

Warner Music collaborated with OpenSea to launch NFTs for artists. (Photo; Doc. BTC Haber)

JAKARTA The largest record company from the US, Warner Music Group, reportedly cooperates with the NFT OpenSea trading platform. The partnership allows artists to get closer to their fans through Non-Fungible Token or NFT digital art.

The announcement on September 29 stated that selected WMG artists would be able to enforce and expand their fan community on Web3.

The selected artists will be given access to the launch of a new NFT. They will receive increased visibility, as well as a personalized direction page on the OpenSea website. OpenSea also offers "special support" for WMG artists, something that is not available to all content creators on the platform.

According to a CryptoSlate report, artists selected by WMG will be given a special direction page to host limited edition projects, providing fans with greater opportunities to engage with their favorite musicians.

The basis of music DNA is the community which is artists and fans who gather together to celebrate their beloved music. Our collaboration with OpenSea helps facilitate these communities by opening up Web3 tools and resources to build opportunities for artists to build deeper engagement, access and ownership, said Oana Ruxandra, WMG's Chief Digital Officer.

The first collection, which is expected to be released by WMG on the OpenSea platform, is in development through the Warner Records branch in the UK in collaboration with the Probably Rescue.

Warner Music positively welcomed the cooperation, the music manufacturer stated that "OpenSea's collaboration marks the latest in a series of attempts to build the expertise of music companies in the space."

Adam Levy of The Mint Podcast exclusively told CryptoSlate:

From a macro perspective, this collaboration is a win just because more capital and music will go into web3... web3 "fans" are different from web2 "fans" - It's not about sellingjual and making money, it's about building a sustainable long-term relationship with collectors and instilling them in the success of artists.

This is a very natural collaboration between two centralized parties who both act as gatekeepers in their industry, but the real impact of web3 and NFT for future artists is in cutting off intermediaries such as record labels and offering live access that really goes directly to their fan base, said Joonatan Lintala, CEO of web3 web media platform Phaver.

Lintala further commented that while this collaboration may not be the true vision of a decentralized future, "collaboration like this does bring a way that (can) is welcomed to bring the NFT collection to a more mainstream audience."

Traditional music companies that make more public moves to the web3 arena can be seen as a milestone for NFT adoption and offer artists a way to receive royalties directly from their creations.