American entertainment and record label conglomerate Warner Music Group continues to expand its metaversal strategy, evident in its recent partnership and investment in digital fashion retailer DressX.
Under the deal, Warner Music artists will be able to work directly with DressX to design and release 3D and AR virtual apparel that can be collected and accessed by fans on various social media channels such as Instagram, Snapchat and others. platform partners.
Warner Music Group Metaverse Push
According to the official blog post, artists will also be able to tap into additional revenue streams through the partnership, while creating new outlets for fans to showcase their fandom across multiple digital worlds.
In a statement, Oana Rukandra, Chief Digital Officer and EVP of Business Development at WMG, said:
“The presentation of our future digital selves will be just as important, and if you measure by the sheer volume of interactions, perhaps more important than how we physically present ourselves.” As our digital identity becomes exponentially stronger and more influential, we are focused on building partnerships that will empower WMG and our artists.”
Warner Music Group did not disclose how much money was invested in DressX as part of the deal.
Earlier this summer, DressX partnered with Meta (formerly Facebook) and began selling its outfits on the Mark Zuckerberg-led company’s Avatar Store. It was the first time a digital native fashion company got the chance to be invited by the social media giant alongside prominent luxury labels Prada, Balenciaga and Thom Browne.
The music and entertainment conglomerate partnered with Animoca Brands’ The Sandbox to create a music-themed virtual world in January this year. This was Warner Music Group’s first venture into the Web3 space, within which the company acquired ESTATE.
For context, the ESTATE was described as a hybrid of a music theme park and concert venue that would act as a portal for Warner’s artists to enter the metaverse.
A month later, Warner entered a record label company that dived into blockchain gaming, partnering with developer Splinterlands. The deal was designed to develop mobile-friendly, affordable games, moving toward arcade-style games in an effort to further drive adoption and strengthen community building more seamlessly than traditional Play-to-earn (P2E) games.
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