New York-headquartered digital collectibles platform Blockparty has struck its first major label partnership with Warner Music Group (WMG).
The news follows WMG’s NFT-related global partnership in April last year with Genies, which dubs itself “the world’s largest avatar technology company”.
Blockparty claims to have created “a new class of digital collectibles across art, music, and sports” which it says will “enable users to share and earn value together”.
The partnership announced today (January 21) grants WMG artists access to what Blockparty calls “cutting-edge Web3 technology in the world of non-fungible tokens (NFTs)”.
The partnership enables Warner Music artists to use Blockparty’s decentralized exchange (DEX), described in a press release as a “community-focused trading platform that allows collectors to swap digital assets in a way that hasn’t existed until now”.
Blockparty also claims that “for the first time ever”, with its DEX, “artists and creators will have the opportunity to participate in NFT swaps”.
Blockparty adds that those using the DEX have the option to “bundle-sell their NFTs”, where they can combine existing NFTs to swap, trade or sell.
The company continues: “By cutting out the middleman, creators, artists, collectors and fans alike can now connect directly like never before through this unique experience.”
Blockparty’s first NFT drop will be with Warner Music Finland artist STIG, who’s releasing a series of NFTs.
“This partnership with Blockparty furthers WMG’s Web3 reach by empowering artists and songwriters to craft their own digital stories through NFTs.”
Oana Ruxandra, WMG
Oana Ruxandra, Chief Digital Officer & EVP, Business Development, WMG said: “As technology and consumption patterns evolve, it’s imperative that we equip our artists and songwriters with all of the tools they need to participate in the virtual economy.
“This partnership with Blockparty furthers WMG’s Web3 reach by empowering artists and songwriters to craft their own digital stories through NFTs.”
“We’re elated to be working with Warner Music Group, a company that continues to sit on the edge of technological and entertainment-based innovation.”
Vladislav Ginzburg, Blockparty
Vladislav Ginzburg, CEO of Blockparty, said: “We’re elated to be working with Warner Music Group, a company that continues to sit on the edge of technological and entertainment-based innovation.
“We look forward to tapping into our expertise and creativity as we work with individual artists to ensure they have all of the tools they need to participate in Web3 and do so in ways that are unique to them, their brand and their communities.
“Early access to our DEX will give WMG artists the ability to both expand their audience to reach Web3 enthusiasts, and foster deeper connections with their existing community by amplifying fan experiences.”Music Business Worldwide
