source : cryptopotato.com
The collaboration will provide select artists of the WMG opportunities to create and develop unique, play-to-earn (P2E), arcade-style blockchain games.
Warner Music Group Dives Into Blockchain Gaming
American record label conglomerate Warner Music Group has joined forces with blockchain gaming developer Splinterlands. According to the official press release shared with CryptoPotato, the deal is Splinterlands’ first-music partnership.
For the uninitiated, 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 growth in its unique active wallets by 4.5% in January compared to December 2021. Currently, the figures stand at 312,000 UAW.
Splinterlands and Warner Music Group aims to develop mobile-friendly, accessible games by moving towards arcade-style gaming. This will help the two entities extend broader adoption and boost community building more seamlessly than traditional play-to-earn (P2E) games.
Following the latest development, Splinterlands Co-Founder and CEO Jesse “Aggroed” Reich commented,
“Warner Music Group is a leader in the music industry. They are innovating the music industry to meet the standards set by Web 3.0 community members. We’re thrilled to be working with them and I look forward to new collaborations at the intersection of gaming, music, crypto, NFTs, defi, and blockchain.”
Oana Ruxandra, Chief Digital Officer & EVP, Business Development, WMG, highlighted the opportunity around the burgeoning P2E gaming. Forging a partnership with Splinterlands to build custom tokenized games will help the multi-national entertainment company to explore new revenue streams for its artists seeking to elevate the role of fandom and community.
The exec stated that WMG is committed to positioning music at “front-and-center” as the Web 3 ecosystem continues to evolve.
Blockchain games are rapidly increasing in popularity, and so are investments in the sector. In fact, CryptoPotato earlier reported that the booming industry – GameFi – and blockchain-based online games had received more than $1 billion in funding in January alone.
To put things into perspective, the niche witnessed investments worth $4 billion for the entire of 2021. This was revealed in the latest edition of DappRadar, which also stated that this category contributed 52% of the overall blockchain activity in 2022 so far.
Featured Image Courtesy of La Tribune