Warner Music Group is partnering with The Sandbox to create a virtual world concert venue. In this virtual world where gamers can build and monetise their gaming experiences on the Ethereum blockchain.
Warner’s Musical Metaverse Concert to Feature Top Performing Artist
According to the company’s announcement on January 27, Warner’s virtual land inside the sandbox will feature artists from its roster. It will be a “combination of musical theme park and concert venue.”
While Warners has yet to confirm which artists will be performing in the virtual venue, its large and diverse roster includes Ed Sheeran, Camilla Cabello, Dua Lipa and Green Day, naming a few – some of the biggest stars could be performing in the virtual world as avatars.
The Sandbox has seen some big artists perform on its virtual venue, with Snoop Dogg and Deadmau5 both working with the platform in their capacities, but this deal with Warner Music Group will be their biggest music partnership yet.
There’s no word yet on when the Warners venue will debut in the sandbox, but players have the option to purchase the property next door – which you can expect to fetch very high prices. A virtual lot next to Snoop Dogg’s sandbox estate was bought for $450,000 (£330,000) last year.
The Future of Music Concerts Might Be Moving into the Virtual World?
Virtual concerts – whether based on virtual worlds or games like Fortnite – are becoming a way for the live music industry to mitigate some of the losses it has suffered during the Covid-19 pandemic.
And just as video conferencing has become second nature for today’s workers, virtual concerts continue as the world begins to open up again.
For a company like Warner Music Group, virtual concerts aren’t a solution to a temporary problem but a huge moneymaker, especially now that virtual reality and virtual game worlds like The Sandbox are reaching a wider audience.
However, virtual concerts don’t offer the guts or energy of a real performance – we don’t see Warner Music making more money from its artist avatars than from real tours and performances.
But it’s clear that the Metaverse offers artists, labels, and publishing groups another revenue stream, and we expect Warners will be the first of many music companies looking to partner with virtual platforms like The Sandbox.
