Warner Music Group Enters Strategic Partnership With OneOf for NFTs
Entertainment NFT platform, OneOf has announced a partnership with Warner Music Group.
The partnership will see OneOf create exclusive NFTs for music catalogues owned by Warner Music Group. This partnership further increases the number of major entertainment partnerships that the NFT platform has been able to achieve within a short period of time.
OneOf and Warner Music Group to Build Exclusive NFTs
🎵 OneOf x Warner Music Group! 🎵 Yes, OneOf has partnered with yet another music giant, @warnermusic, to create exclusive NFTs for a range legendary music artists! Built on @tezos, OneOf is the green NFT platform for the music community. 🌳Stay tuned for more! #BeOneOf #tezos pic.twitter.com/VnajhiwN3g
— OneOf (@OneOfNFT) January 31, 2022
Both have made the news recently due to their partnerships with major brands like Tiktok and music legend Nas.
But OneOf isn’t far behind in the game itself. The platform has already attracted top musical acts such as John Legend and Whitney Houston to its stable.
Last year, it released an NFT of Whitney Houston singing at 17, selling it for $1 million. This remains the most expensive NFT sold on Tezos to date.
Despite not being up to a year in the market, the Quincy Jones-backed platform has already made a name for itself by scoring partnerships with organizations like iHeartRadio and the Grammy Awards.
This new partnership with Warner Music Group, one of the big three music companies in the world, is significant for both parties.
According to Oana Ruxandra, WMG Executive Vice President, this partnership will allow WMG artists to build better one-on-one relationships with fans. Oana also believes it’ll help Warner artists win in the Web3 economy.
NFT Trades Continue to Grow
In recent months, NFTs have become more important than ever as brands see them as part of the burgeoning metaverse and Web3 trends. While still in its early stages, billions have been poured into this sector through trades, partnerships, and investment. In January alone, the trading volume for NFTs was around $7 billion.
The trend is unlikely to stop as the struggle to remain relevant in the Web3 economy will increase. This is good news for NFT platforms as they get more access to resources that can further improve the technology.
Tezos’ XTZ currently trades for $3.59 after rising by more than 11% in the last 24 hours.