Sandbox’s market expansion continues with new partnerships. Currently, the company is establishing a partnership with Warner Music Group and working on a musical called Metaverse.
The Sandbox’s objective is to build a virtual world centred on music. This is part of a new partnership between Warner Music Group (WMG). In a January 27 statement, the project announced that this is Warner Bros.’s first foray into the universe of NFT and the Metaverse.
According to the Sandbox team, WMG has bought the digital property “ESTATE,” which will serve as a doorway for the company’s artists to appear in the Metaverse.
The American entertainment and record label giant responded to the incident as follows:
Our collaboration with The Sandbox brings a new level of capability to the Metaverse by allowing for ownership of the virtual real estate. Warner Music establishes the equivalent of beachfront property in the Metaverse as the first company on the market.
Oana Ruxandra, Chief Digital Officer at Warner Music Group, claimed that the company’s goal is to “create a lasting, immersive music experience that defies real-world constraints and enables our artists and fans to participate in ways never seen before.”
A combination of a music amusement park and a performance venue has been defined as the digital property. Warner’s artists will use it.
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The Sandbox, which announced ambitions to build a digital mega-city earlier this month, will also conduct a virtual property sale near the new location. An open metaverse is one step closer to fan- and community-led projects, according to Sébastien Borget, COO and co-founder of The Sandbox.
WMG is officially one of The Sandbox’s 200 partners. The corporation is a music industry giant, bringing together hundreds of top artists and labels.
This week, The Sandbox announced a $50 million acceleration programme with Animoca Brands and Brinc. The sandbox Metaverse Accelerator programme will begin in Q2 2022.