WMG appears to have taken the ‘3’ in web3 as a cue to sign at least three new deals a month. Its latest such partnership is with a blockchain gaming company called Splinterlands, which runs a popular game of the same name. The companies said the deal will enable WMG artists to “create and develop unique, play-to-earn (P2E), arcade-style blockchain games”.
P2E is one of the emerging trends at the moment in the games industry: games that enable players to make money, often by trading assets they have bought or earned within games as NFTs. Games like Axie Infinity are proving lucrative earners for some players, although there is plenty of heated debate among gamers and developers alike about the merits of the model.
Anyway, WMG wants to explore it, and it has chosen a company whose flagship collectible-card game has 450,000 daily active users.
“I don’t think we can underestimate how massive the opportunity around P2E gaming is,” said WMG’s Oana Ruxandra. “As we build, we will be unlocking new revenue streams for our artists while further solidifying fans’ participation in value created.”