The collaboration will provide select artists from WMG with opportunities to create and develop unique, play-to-earn (P2E), arcade-style blockchain games.
Warner Music Group enters blockchain gaming
American record label conglomerate Warner Music Group has joined hands with blockchain gaming developer Splinterlands. According to the official press release shared with cryptopotatoThe deal is Splinterlands’ first-music partnership.
For starters, Splinterland was founded in 2018, and it currently operates the popular blockchain game dApp of the same name. It has emerged as one of the most played games, registering a substantial increase of 4.5% in its unique active wallet in January as compared to December 2021. Currently, the figures stand at 312,000 UAW.
Splinterlands and Warner Music Group aim to develop mobile-friendly, accessible games while moving toward arcade-style gaming. This will help both the institutions to drive wider adoption and community building as compared to traditional play-to-earn (P2E) games.
Following the latest development, Jesse “AgroEd” Reich, co-founder and CEO of Splinterlands, commented,
“Warner Music Group is a leader in the music industry. They are innovating the music industry to meet the standards set by members of the Web 3.0 community. We are thrilled to be working with them and I am passionate about gaming, music, crypto, NFT, DeFi. And look forward to new collaborations at the intersection of blockchain.
Oana Ruxandra, Chief Digital Officer and EVP, Business Development, WMG, highlighted the growing P2E gaming opportunity. Partnering with Splinterlands to create custom tokenized games will help the multi-national entertainment company explore new revenue streams for its artists seeking to enhance the role of fantasy and community.
The exec said that WMG is committed to putting music “front-and-center” as the Web3 ecosystem continues to evolve.
GameFi Explosion
The popularity of blockchain games is growing rapidly, and so is the investment in this area. In fact, cryptopotato It was previously reported that the emerging industry – GameFi – and blockchain-based online games received more than $1 billion in funding in January alone.
To put things in perspective, Niche saw an investment of $4 billion for the whole of 2021. This came to the fore in the latest version of DappRadar, which also states that this category has contributed to 52% of the total blockchain activity so far in 2022.
Featured image courtesy of La Tribune
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