DresseXWarner Music Group, an American entertainment and record label behemoth, is expanding its metaverse strategy, as seen by its recent collaboration and investment in DressX, a digital apparel shop.Under the terms of the deal, Warner Music artists will be able to work directly with DressX to create and publish 3D and AR virtual clothes that fans can collect and access through different social media channels such as Instagram, Snapchat, and other platforms partners.
A Deeper Dive Into Warner Bros Efforts To Invest In The Metaverse
In addition, the relationship will enable artists to tap into new income sources while also opening up new opportunities for fans to express their devotion across various digital realms, according to the official blog post.”The portrayal of our future digital identities will be as vital, if not more significant, than how we represent ourselves physically,” said Oana Ruxandra, WMG’s Chief Digital Officer & EVP of Business Development, in a statement. We are committed to developing relationships that will help WMG and our artists as our digital identities grow exponentially more comprehensive and effective.”The amount spent in DressX as part of the transaction has not been disclosed by Warner Music Group.
DressX teamed with Meta (previously Facebook) earlier this summer and started selling outfits in the Mark Zuckerberg-led company’s Avatar Store. This was the first occasion that a digital-native fashion firm was invited by the social media giant among major premium labels such as Prada, Balenciaga, and Thom Browne.
A Dive Taken Into Web3
In January of this year, the music and entertainment giant collaborated with Animoca Brands’ The Sandbox to establish a music-themed virtual environment. This was Warner Music Group’s first foray into the Web3 area, and it included the acquisition of “ESTATE.”For background, the “ESTATE” has been defined as a cross between a musical theme park and a performance venue that will serve as a conduit for Warner’s musicians to emerge in the metaverse.
