The Sandbox announced Thursday a partnership with Warner Music Group, or WMG, to create a musical theme park and concert venue within the gaming metaverse. The Warner Music Group LAND in The Sandbox will host concerts and live experiences featuring artists and talent represented by WMG.
This initiative marked Warner Music’s first entry into the nonfungible token (NFT) metaverse realm. According to a statement shared with Cointelegraph, its goal is to create immersive social experiences that can empower Warner Music artists. The Sandbox could provide artists with another outlet to engage with their fans, experiment with virtual entertainment, and generate new revenue streams while reaching a global community.
Sebastien Borget, chief operations officer and co-founder of The Sandbox, said that the partnership “brings the open metaverse one step forward in the direction of fan-owned and community-driven initiatives.”
“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,” he added.
Digital land remains in high demand, and consistent high trading volume in The Sandbox has deemed it one of the most competitive metaverses to rival Decentraland. According to the company, The Sandbox will hold a LAND sale in March 2022 to allow music fans to buy LANDS adjacent to the WMG property.
WMG, comprising record labels such as Atlantic, Warner Records, Elektra and Parlophone, is the latest partner to purchase real estate within The Sandbox metaverse, joining The Walking Dead, Snoop Dogg, Adidas, Steve Aoki, The Smurfs and CryptoKitties.