Warner Music Group to Launch ‘Concert Theme Park’ in Sandbox Metaverse

The deal could bring big name stars like Ed Sheeran, Bruno Mars and Dua Lipa to the metaverse for the first time.

AccessTimeIconJan 27, 2022 at 1:11 p.m. UTC
Updated May 11, 2023 at 5:58 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Warner Music Group (WMG) is entering the metaverse with a music-focused theme park in The Sandbox, the company announced Thursday.

WMG is the owner of a slew of popular music properties, including record labels Atlantic, Warner Records, Elektra and Parlophone.

The virtual theme park will feature “concerts and musical experiences” from the music company’s star-studded roster of artists, which includes the likes of Ed Sheeran, Bruno Mars, Dua Lipa and Cardi B, according to a press release.

As part of the announcement, The Sandbox will be hosting a LAND sale for virtual properties adjacent to the prospective festival site for fans to purchase in March. Consider it the latest corporate foray into the immersive experiences that some are calling the future of the internet.

“We are deeply focused on Web 3 right now and the impact it will have on music. It’s incredibly difficult to put value against fandom right now,” Oana Ruxandra, chief digital officer and executive vice president of business development at WMG, told CoinDesk in an interview. “The music industry had big decades in the ’80s and ’90s, and then Napster came around and there was a pullback. Then the same thing happened when Spotify came in. We want to be driving opportunity, not behind the eight ball.”

WMG isn’t the first major music player looking to expand its audience into virtual worlds. The metaverse game Decentraland hosted a three-day virtual music festival in October, with artists like Snoop Dog having toyed with virtual gatherings in The Sandbox dating back to September.

While no one knows for certain what companies getting into “the metaverse” will entail, it’s clear that partnerships with virtual reality platforms like The Sandbox and Decentraland are a safe starting point.

The Sandbox’s SAND token was up nearly 7% over the past 24 hours, to $3.49 as of press time, with an upward climb starting at about 4:00 UTC.

Earlier Thursday, the project announced a $50 million incubator program for metaverse startups.

UPDATE (Jan. 27, 14:37 UTC): Adds SAND price action.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Eli Tan

Eli was a news reporter for CoinDesk. He holds ETH, SOL and AVAX.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.



Read more about