The recorded music division of the American film studio Warner Bros., Warner Music Group, has partnered with the digital fashion house DressX and invested an undisclosed amount in the company. The partnership will enable WMG artists to collaborate with DressX for their 3D and AR merchandise. WMG already owns ESTATE, a virtual setting for holding metaverse concerts.
The American entertainment and record label conglomerate Warner Music Group (WMG), formerly known as Warner Records Inc. (previously known as Warner Bros. Records Inc.), is expanding its metaverse strategy. This assertion is supported by their most recent agreement, which includes an undisclosed investment in DressX, a digital fashion retailer.
The agreement allows the WMG artists to work with DressX to design and launch 3D and augmented reality-powered virtual clothing, which fans can then collect across social media platforms including as Snapchat, Instagram, and more.
The company and the artists will profit from this extra income source. They can collaborate with DressX to introduce their distinctive clothing and accessory line. Additionally, this will enable supporters to display their fandom online.
According to Oana Ruxandra, Chief Digital Officer and Executive Vice President of Business Development at WMG, the digital version of our future selves will be just as significant. It becomes more significant than our physical representation when the vast interaction volume is considered.
“As our digital identities become exponentially more robust and impactful, we are focused on building partnerships that will enable WMG and our artists,” she said.
DressX and Meta collaborated early this summer, and DressX has already begun selling clothing in the Mark Zuckerberg-led Avatars Store. It is significant because a fashion brand founded in the internet age now coexists on social media with well-known luxury brands like Prada, Thom Browne, and Balenciaga.
Aiming to debut a virtual environment with a musical theme, WMG had also collaborated with Animoca Brands’ The Sandbox. As a result of the “ESTATE” acquisition, this was also Warner Music Group’s first foray into Web3. WMG’s artists will now use ‘ESTATE,’ a hybrid concrete venue and musical theme park, as a conduit to perform in the metaverse.
