Warner Music Group makes funding in digital trend platform DRESSX

Warner Music Group has introduced a “first-of-its-kind partnership” with DRESSX, a digital trend retailer, permitting its artists to design their very own digital trend strains.

The partnership may also see Warner Music investing in DRESSX as the main report label doubles down on its investments within the Web3 area. WMG didn’t disclose the dimensions of its newest funding in a Thursday (December 15) launch.

Beneath the brand new partnership, WMG artists will be capable of collaborate straight with DRESSX to design and launch 3D and AR digital clothes that followers can gather and use throughout Instagram, Snapchat, and different platform companions.

DRESSX options greater than 3,000 digital gadgets on its on-line library and operates an AR trend app. 

This gives new income streams for artists, whereas additionally creating further collectible merch for followers to showcase throughout artists’ fandoms on-line.

Launched in August 2020, DRESSX is described as the most important digital closet with a dedication to sustainable trend as its digital garment market permits shoppers to showcase their fashion digitally. It additionally invests in science-based analysis of the carbon footprint of its digital fashions.

DRESSX has proposed a patent for calculating the carbon footprint of digital trend, which has been validated by The Carbon Accounting Firm. It has partnered with Move Carbon to offset carbon emissions throughout its operations. 

The agency has additionally teamed up with quite a few tech, trend, and way of life firms, together with Meta, Roblox, Snapchat, Google, Coca-Cola and FARFETCH, amongst others.

Digital trend on the platform has been featured in Vogue Singapore, Vogue Enterprise, WWD, HighSnobiety, Forbes, Monetary Instances, and extra. They’ve additionally graced the covers of L’Officiel USA, L’Officiel Paris, L’Officiel Italy, Vogue Czechoslovakia, Vogue Singapore, Haute Dwelling, and extra.

WMG has sharpened its concentrate on the Web3 area by investments and collaborations with gamers within the area.

In January, the corporate stated it made its “first entry into the NFT metaverse realm” by teaming up with digital gaming world The Sandbox.

Lower than two weeks in the past, the report firm signed a partnership with e-commerce and interactive platform builder LGND.io and Polygon Corporations, a blockchain community developer.

The three will launch a music and collectibles platform referred to as LGND Music in January 2023, the place customers should purchase and personal music tokens and construct a digital assortment of ‘Digital Vinyls.’

WMG has additionally partnered with NFT market OpenSea in late September, letting WMG artists construct and lengthen their fan communities in Web3.

In June, Warner Music made an funding in San Francisco-based Genuine Artists, a music platform that helps metaverse-native digital artists.

“As our digital identities turn out to be exponentially extra strong and impactful, we’re centered on constructing partnerships that may allow WMG and our artists.”

Oana Ruxandra, Warner Music Group

WMG’s Chief Digital Officer & EVP, Enterprise Growth, Oana Ruxandra, stated: “The illustration of our future digital selves might be as vital and, in case you’re measuring by sheer quantity of interactions, perhaps extra vital than how we symbolize ourselves bodily.

“As our digital identities turn out to be exponentially extra strong and impactful, we’re centered on constructing partnerships that may allow WMG and our artists. With its management in wearables and sustainability, DRESSX is strictly the kind of companion we want sprinting alongside us as we construct for the long run.”

 Daria Shapovalova and Natalia Modenova, co-founders of DRESSX, stated: “Digital merch and swag from musicians will certainly be part of the digital wardrobes of followers, and it’s nice to see that increasingly stakeholders consider on this new area that’s already altering the style business at a scale. Every single day, we’re getting nearer to our intention of giving a meta-closet to each individual on the earth, making trend accessible to everybody by innovation and tech.

DRESSX’s Shapovalova and Modenova added: “We’re extraordinarily proud to companion with Warner Music Group and their unbelievable artists to proceed constructing and scaling the DRESSX meta-closet imaginative and prescient for the long run. Digital trend is a visible language for speaking and creating bonds on-line, and at DRESSX we use know-how to offer the utility for digital wearables utilizing augmented actuality, machine studying, and blockchain.Music Enterprise Worldwide

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