It seems that virtual assets have become an indispensable part of the music industry as firms and artists continue to adopt the new-age payment and investment resources. Over the years, we have seen several successful deals between global music artists and cryptocurrency projects. Keeping pace with this growing craze for crypto, leading music brand Warner Music Group has locked a strategic partnership deal with popular blockchain gaming firm, Splinterlands to further its expansion within the virtual assets ecosystem.
According to the report, the highly-anticipated collaboration will play a significant role in linking artists with cryptocurrencies and blockchain-based gaming solutions. With this pact, the Warner Music Group artists will get a golden chance to create and develop their customized Play-to-Earn games for fans from across the globe. The main highlight of these games will be the use of crypto tokens for payment settlements, purchases, and trading of digital articles within the cluster.
The co-founder and CEO of Splinterlands, Jesse “Agreed” Reich said that the team is related to work with Warner Music Group which is hailed as the leader of the music arena. The music brand is innovating the sector to come at par with the standards set by the Web 3.0 channel. The spearhead added that the firm is looking forward to nurturing new collaborations focused on gaming, NFTs, crypto, music, DeFi, and blockchain technology.
Talking about the partnership, Chief Digital Officer and EVP of Business Development at WMG, Oana Ruxandra conveyed that the P2E gaming cluster has immense opportunity potential. With Splinterlands, the firm will strive to create custom tokenized games that will open exclusive revenue flows for the artists who have a keen interest in the sector. The music giant will enhance the role of fandom and place music at the forefront amid the growth of Web 3.0 technologies.
Founded in 2018, Splinterlands has a diverse portfolio of fantasy-themed collectible card games. The platform supports a thriving cluster of 450,000 daily users. Now, with the WMG partnership, the platform is looking forward to allowing artists to design mobile-friendly and arcade-style games. Last year, WMG teamed up with Genies to design avatars and create NFT merch for the artists. In January 2022, the company collaborated with Blockparty, a digital collectible or NFT portal to support its ventures.
Recent years have seen tremendous growth in the crypto-supported gaming industry. The data report by The Block in November 2021, revealed that approximately half of $3.4B worth of VC pacts constituted this category in October. The top-tier gaming firms from across the globe have switched to blockchain gaming solutions to attract customers who are widely supporting cryptocurrencies and NFT projects.
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