Warner Music Invests in Wave to Create Virtual Music Experiences

"The commercial opportunity in the metaverse has exploded in the last several years, with the past few months seeing a tipping point for mainstream adoption of immersive social experiences and virtual communities," WMG executive vp, business development and chief digital officersaid."Wave is indisputably a leader in the interactive virtual entertainment space and the right partner to help us grow WMG’s efforts.

"On Friday , WMG announced a separate global partnership with Genies, a company through which both artists and fan users can create custom avatars. Under the partnership, Genies will work with the label group to create avatars of its artists and sell branded, digital avatar gear to fans in a new NFT marketplace. The label group also made recent investments in Spirit Bomb, a new record label dedicated to entirely virtual artists, and gaming platform Roblox.

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