NFT
NFT market OpenSea has partnered with the U.S. file label Warner Music Group.
Artists who signed below Warner Music Group can have their very own drop pages on OpenSea in an try and bolster fan engagement and construct neighborhood, based on a Warner Music Group launch.
“As a large music fan myself, I’m thrilled to work with a accomplice who understands the importance of this know-how, and needs to make use of it for good — to empower artists to personal their fan connections straight,” OpenSea’s Vice President of Product Shiva Rajaraman mentioned within the assertion.
Warner Music Group partnering with OpenSea follows different developments the music NFT ecosystem noticed in 2022.
In February, Common Music Group partnered with the leisure NFT platform Curio to drop digital property for the file label. Music streaming large Spotify introduced in Could that it’s going to start trialing NFTs on its platform.
NFTs can supply sure perks to efficiency artists, comparable to letting artists generate recurring income by royalties and permitting their work for use in digital worlds, founding father of the music NFT platform HitPiece Rory Felton beforehand instructed The Block.