Warner Music Group Adding Play-to-Earn Games With Splinterlands Partnership
The music giant is adding blockchain-based gaming to its repertoire in an effort to expand revenue streams for its roster of musicians.
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Warner Music Group (WMG) has partnered with blockchain gaming company Splinterlands to develop play-to-earn (P2E) games for its roster of artists, the company announced Wednesday.
WMG said it’s initially focused on building mobile-friendly, arcade-style games, with the goal of gaining “wider adoption and community building,” according to the press release.
“I don’t think we can underestimate how massive the opportunity around P2E gaming is,” Oana Ruxandra, chief digital officer of WMG, said in a statement. “As we build, we will be unlocking new revenue streams for our artists while further solidifying fans’ participation in value created.”
WMG is the owner of record labels Atlantic, Warner Records, Elektra and Parlophone. The company’s initial foray into crypto came in January, when it announced it was building a theme park in the metaverse game The Sandbox to host virtual concerts for its artists.
Splinterlands’ most popular product is a blockchain-based card game by the same name, which the company says has over 1.8 million users. The game’s native token SPS is up 7% on the news.
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Eli was a news reporter for CoinDesk. He holds ETH, SOL and AVAX.