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Platform for the Metaverse The Sandbox continues to broaden its reach with new collaborations. Indeed, it recently announced a partnership with Warner Music Group to build on a music Metaverse.
In a new relationship with Warner Music Group, The Sandbox hopes to launch a virtual environment based around music (WMG). The team stated in a Jan. 27 announcement that this is the first time Warner has stepped into the area of NFTs and the Metaverse.
The Sandbox team also stated that WMG has purchased a “ESTATE,”. Which will act as a doorway for the company’s artists to appear in the Metaverse.
According to the American multinational entertainment and record label conglomerate; “With virtual real estate ownership, our collaboration with The Sandbox offers a new layer of possibilities to the Metaverse. Warner Music has secured the metaverse’s equivalent of beachfront property as a pioneer.”
A metaverse for the music industry.
According to Oana Ruxandra, Warner Music Group’s Chief Digital Officer, the company will “develop immersive, persistent social music experiences that challenge the boundaries of the real world and allow our artists and their fans to engage like never before” on its newly acquired share of the Metaverse.
The “ESTATE” is as a cross between a music theme park and a concert hall. With performances by Warner’s best artists.
The Sandbox, which earlier this month revealed plans for a Hong Kong-bound mega-city, will stage a LAND auction near the new venue, allowing music aficionados to acquire a virtual plot close to the action. The strategic alliance, according to Sebastien Borget, COO and co-founder of The Sandbox, “moves the open metaverse one step closer to fan-owned and community-led initiatives – the possibilities are quite intriguing.”
WMG has now joined almost 200 existing Sandbox collaborations. Indeed, the company is one of the world’s major music companies, with hundreds of top artists and labels.
The Sandbox announced earlier this week the establishment of a $50 million accelerator program in collaboration with parent business Animoca Brands and startup capital firm Brinc.
Finally, the Sandbox Metaverse Accelerator Program, which will invest $250,000 in about 100 new initiatives over the next three years, is set to begin in Q2 2022.