Warner Music Group (WMG) continues its Web3 drive by partnering with and investing in metaverse fashion retail company DRESSX.
The collaboration will enable selected WMG artists to use the DRESSX platform to create their own 3D digital fashion collections employing cutting-edge technologies such as augmented reality (AR), machine learning, and blockchain.
Upon completion, fans can collect and enjoy the fashion items on Instagram, Snapchat, and other platforms, including dating apps, games, and video calls.
The goal would be to provide artists with a new source of revenue while also allowing customers to show off their new outfits in the digital space.
Although Warner Music Group has been active in Web3 music initiatives such as its recent multi-year partnership with LGND, it has started to see potential in the virtual fashion space as well.
“As our digital identities become exponentially more robust and impactful, we are focused on building partnerships that will enable WMG and our artists,” commented Oana Ruxandra, Chief Digital Officer & EVP, Business Development, at WMG.
The digital world is rapidly becoming one of the most important places to express oneself and establish one’s self-image. As a result, virtual fashion, a market that will be worth $50 billion by 2030, has become a key focus for many companies.