Warner Music Group has announced the launch of a theme park-based metaverse on Sandbox that would feature music experiences.
The virtual space would host concerts bringing together popular artists, including Bruno Mars, Ed Sheeran, and Cardi B.
Sandbox plans to announce a LAND sale for virtual real estate around the venue that opens to fans in March.
The Chief digital officer and executive VP of business development at WMG, Oana Ruxandra, says that the company is looking into Web 3 and how it can change the music industry.
Some of the popular labels of the Warner Music Group include Atlantic, Elektra, Warner Records, and Parlophone.
Decentraland held a similar music festival in October for three days, while Snoop Dog recently entertained a virtual audience on Sandbox.
Sandbox has announced a $50 million incubator fund for metaverse early-stage projects. SAND is up 7% in the past day to trade at $3.49.