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WMG forms "partnership" with NFT platform Blockparty-supposedly to advantage their artists

The majors are determined to not leave any avenue where artists can work OUTSIDE of them. Their entire game is for them to "manage" every part of the the artists sales eco system so that they can advantage themselves first (in our personal opinion).

Artists have figured out how to mint NFTs on outside platforms. NFTs did not even exist when most artists signed their deals so they are not covered in the paperwork where a label gets a percentage of everything the artist sells. This is excellent for the artist but the labels will never stop or leave any oppty to make a buck untapped.

New York-headquartered digital collectibles platform Blockparty has struck its first major label partnership with Warner Music Group (WMG).

The partnership enables Warner Music artists to use Blockparty’s decentralized exchange (DEX), described in a press release as a “community-focused trading platform that allows collectors to swap digital assets in a way that hasn’t existed until now”.

Blockparty also claims that “for the first time ever”, with its DEX, “artists and creators will have the opportunity to participate in NFT swaps”.

Blockparty adds that those using the DEX have the option to “bundle-sell their NFTs”, where they can combine existing NFTs to swap, trade or sell.

The company continues: “By cutting out the middleman, creators, artists, collectors and fans alike can now connect directly like never before through this unique experience.”

Oana Ruxandra, Chief Digital Officer & EVP, Business Development, WMG said: “As technology and consumption patterns evolve, it’s imperative that we equip our artists and songwriters with all of the tools they need to participate in the virtual economy.

They don't say how they will participate in the profit sharing from these.


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