Web3 Music Seeks Fresh Ideas: Warner Music Executives | coindesk JAPAN | Coindesk Japan

Celebrities, banks, and music labels were active in NFTs not long ago, but the prolonged “crypto winter” has dampened their enthusiasm. But Warner Music Group (WMG) is promoting NFT in such a situation.

For WMG Chief Digital Officer Oana Ruxandra, NFTs are key to moving artists forward.

WMG is working on Web3 in partnership with the likes of Metaverse’s The Sandbox and blockchain game Splinterlands.

In 2021, we invested in the game platform “Roblox”, and in February 2023, we appointed rapper Saweetie to hold a virtual “Super Bowl” on Roblox. According to a video introduced on stage, the event has been viewed 7.5 million times and has a like rate of 91%. It also sold digital goods, Ruxandra said.

“The existence of digitally augmented spaces as well as physical spaces is an important factor for our future.”

Luxandra said Web3’s burgeoning music endeavors will survive if artists in the digital space focus on meaningful, forward-looking and unique ideas. He also added that not all artists need to work on NFTs.

“You have to understand who your audience is and communicate with them. Go to them and figure out what they want.”

Crusandra recommended communicating with fans in physical locations or through Discord channels and social media, as well as having a long-term roadmap.

And if you can build your own community, you can inspire fans to “experience different things,” he said, adding that the community should be part of the creative process.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Consensus 2023/CoinDesk
｜Original: Web3 Music Requires Fresh Ideas to Succeed, Says Warner Music Exec