Warner Music Group continues to create alliances with Web3 firms, this time sealing a deal with DressX, a startup that creates digital wearables on and off the blockchain. Through the partnership, Warner Music artists can create and license digital wearables and merchandise for their fans.
According to the record label, the items will be 3D avatar wearables, and the fans can view them on social media platforms like Instagram and Snapchat. Some artists signed under Warner Music Group and could benefit from the partnership include superstars like Coldplay, Dua Lipa, Lizzo, Red Hot Chili Peppers, and Madonna.
Warner Music Group Seeks to Invest in Web3 Startup, DressX
As part of the agreement, Warner Music Group will invest in DressX, although the exact amount remains undisclosed. The record label’s chief Digital Officer, Oana Ruxandra, said that the company’s interest in DressX is because life is trending more digital. He added that the representation of our digital selves would be as important as how we represent ourselves physically.
DressX cofounders Natalia Modernoveand Daria Shapolova started the firm in 2020 to provide a meta-closet to every person. In July of this year, DressX became the first digital-native brand permitted to release digital wearables in Meta’s Avatar Store. However, the move did not sit right with some Web3 enthusiasts.
Warner Music Group Builds Alliances With More Web3 Firms in 2022
DressX partnership caps off a series of Web3 deals for Warner Music Group in 2022. In January, the firm announced that it would host virtual concerts with its artists in The Sandbox, an Ethereum-based metaverse game. A few weeks later, the record label revealed that it had partnered with Splinterlands, a Web3 gaming firm, to build artist-themed blockchain games.
More recently, Warner Music Group partnered with the world’s largest NFT marketplace, OpenSea, to enable artists to bridge into the space. Also, the record label entered into a deal with the LGND platform running on Polygon to release music NFTs for its artists.
Despite the hype around digital fashion, NFT apparel has yet to attract significant mainstream interest at this early stage in the metaverse development. However, digital wearables already seem to be popular in Web2 games. Roblox, a famous game creation suite and proto-metaverse platform, reports sales of 1B digital fashion items this year through its platform.
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