Warner Music Group Invests In ‘Digital Fashion Retailer’ DRESSX

Warner Music Group invested DRESSX avatar. Photo credit: WMG

Warner Music Group (WMG) has closed out 2022 with a deal with “digital collection platform” Blockparty.

The Big Three label and the two-year-old DRESSX, which describes itself as “digital-only clothing, NFT fashion items, and a meta-closet for AR looks,” announced their partnership today through an official release. Despite the well-known crypto winter and recession concerns, Warner Music has spearheaded a number of expansion initiatives during 2022, including Web3, NFTs, and other digital items.

And under this latest agreement, the WMG-signed act is poised to “work directly with DRESSX to design and launch virtual clothing in 3D and AR,” and its supporters will be “on Instagram, Snapchat, and It can be collected and enjoyed on our other platform partners,” according to a major label and a “female-led, female-founded meta-fashion company.”

While the company has not publicly identified details of the union (including which artists will work with DRESSX first) or the aforementioned investments, Warner Music said the deal will “allow artists to unlock new revenue streams. I will be able to do it,” he said. “Additional outlets for fans to showcase their fandom across multiple digital worlds.”

Similarly, releases from WMG and DRESSX are relatively ignorant of specific details about the latter’s offerings and operations. But a video aptly titled “Our Vision” on his website at DRESSX shows how users and customers can see digital apparel in their hands, not only in the metaverse, but also in “real world” photos and videos. It emphasizes that it can be worn.

Indeed, in another section of the site, the platform explains how to take full advantage of AR technology to make you look like you’re wearing different clothes in your photos (especially on social media and dating apps). for use). DRESSX recommended) and during live streams. “Remember, DRESSX can digitally dress you up, but it can never take you off.

In a statement, WMG’s Chief Digital Officer and EVP of Business Development Oana Ruxandra underscored the perceived importance of today’s ‘digital identity’, noting that it will be ‘exponentially more robust’ in the years to come. It will be influential,” he said.

“Our future digital self-expression will be just as important as how we express ourselves physically, and perhaps even more important if we are measuring in the sheer volume of interactions. “As our digital identities become exponentially more robust and impactful, we are committed to building partnerships that enable WMG and our artists.”

Going forward, it’s worth keeping an eye on the commercial performance and popularity of the DRESSX collaboration by Warner Music artists. Especially given the prevalence of social media superfans in the modern music industry.

Also in 2022, Warner Music Group will launch The Sandbox (to create virtual concert venues), music NFT platform OneOf, “leading Web3 protocol” POAP (“to create shared memories as NFTs”), Partnered with NFT marketplace OpenSea, LGND.io. Polygon, and “collectible card game company” Splinterlands.

Source link

Leave a Reply