Warner Music Group opens an outpost in the virtual world The sandpit, and it hopes music lovers will express their fandom by acquiring nearby properties. In an announcement, WMG described its new home as a “combination of musical theme park and concert venue”. It will work with The sandpit to organize concerts and other ‘musical experiences’. But so far, only one specific event has been discussed: a special digital real estate sale called Land, which sandbox users can buy “coveted” lots in March.
The sandpit has previously collaborated with individual artists such as Snoop Dogg for experiences, but this is apparently a larger and more ambitious rig. “Warner Music has secured the equivalent of beachfront real estate in the metaverse,” boasted Oana Ruxandra, WMG’s Chief Digital Officer of Business Development. (A press release did not offer images of the space, and it’s unclear if a virtual beach is involved.) The land sale offers spaces adjacent to the WMG property, although WMG has not stated whether it offers any concrete benefits or benefits. if buyers simply get emotional gratification — and potentially increased real estate prices — from the abstract notion of proximity.
The Sandboxes Land sales have precedent in virtual worlds like Second Life, another place where companies have opened up virtual experiences. Likewise, virtual concerts have taken over Fortnite, Minecraft, and Roblox — the latter of which has signed its own music industry deals and hosted “listening parties” where artists can debut new music. Last year, WMG also invested in the virtual concert platform Wave.
Unlike all the above platforms, The sandpit is built around blockchain and non-fungible token (or NFT) technology. It mainly deals with ownership and letting players monetize in-game resources, an important part of what is sometimes referred to as the “metaverse”. Together with the comparable platform Decentralland, it has sparked a recent effort to make virtual land a hot item, though some observers are skeptical of the phenomenon. Regardless of the bigger business strategies at play here, you can make at least one good argument to become virtual instead of real neighbors with a concert hall: if the music is too loud, just turn off your computer and go to sleep.