As of January 27, 2022, Warner Music Group (WMG) has confirmed that it has invested on a parcel in the metaverse of The Sandbox (Ethereum blockchain). WMG is setting the tone and wants to set up a virtual music theme park. NFT, blockchain, cryptocurrencies: the world of music and entertainment is getting in sync. Examples of concerts in the metaverse are becoming numerous.
The Sandbox (SAND) composes a metaverse with Warner Music Group
The WMG is the first music publishing and production company to tune its violins with The Sandbox. In Warner’s score, we find, indeed, artists like Ed Sheeran, the Red Hot Chilli Peppers and many others. Warner’s project: nothing less than to create a musical theme park in the metaverse (games, concerts, ceremonies). Together with Animoca Brands (NFT blockchain game company) and Genies (NFT cartoon-like avatar creation company), Warner is the first music industry giant to take over the space.
Oana Ruxandra, CDO (chief digital officer) and vice president of business development at Warner, sees The Sandbox as a territory of “opportunity,” according to Decrypt. Sebastien Borget, COO (chief operating officer) and co-founder of The Sandbox, sees the opportunity to create:
“(…) a fun entertainment destination where creators, fans and gamers can enjoy never-before-seen immersive experiences (…)”
The Sandbox: an immersive experience
The concert experience in the metaverse is not new in the blockchain universe. It’s even a given in the context of the pandemic we are experiencing. Coin Telegraph develops the arguments of these musical experiences.
The metaverse allows, in fact, artists a material independence (compared to a physical tour). It also allows artists to connect with their audience in a different way, because it plays with borders. Finally, let’s not be naive! The metaverse and virtual concerts can provide artists with a new source of income in a complicated context for the record industry.
Advertising ground for some, virtual pied-à-terre for others: The Sandbox offers companies a complete score that allows them to improvise in good conditions. In this sense, Oxana Ruxandra (WMG) adds:
“We are also looking at things like custom experience design and game development.”
The Sandbox’s many partnerships show us that the metaverse is interesting and attractive. Snoop Dogg has already taken advantage of the possibilities of this new communication tool. The rapper organized a party under his own label (Doggy Style Records) with entries materialized as NFTs, which could be won or purchased. Adidas, in another style, has also invested in virtual real estate. Even more recently, Carrefour jumped into the metaverse. The music industry is not the only one to follow the pace.
Decentraland (MANA), a metaverse set up like clockwork
However, let’s review our classics! The experiment is not new. Decentraland (MANA) has already created concerts in its metaverse. We have even participated in them!
Curiosity of another world, the concerts in the metaverse seem to be a relevant answer to the false notes of our time. The artist Bufalo, DJ in Decentraland, even explained to us that concerts in the metaverse were, for him, an essential step in the career of a musician. In this dynamic, he proposes to his public a tour: “The Metaverse Tour”. Bufalo even confirms that this tour is a success, which shows that the heart of the public is beating for the metaverse:
“The first date we had almost 500 people. At the second concert, we had a little more than 1000 people and the last one between 1500 and 2000 people (…) “.
Some drawbacks all the same! The metaverse can be seen as a space of immersive experience for some, a space of virtual advertising for others. What is sure is that the Warner Group confirms the trend, by investing in The SandBox and in its metaverse, the culmination of a dynamic turned towards the NFT universe.
