Another day, another web3/metaverse partnership for Warner Music Group. The partner is DressX, a startup that has been building a business in digital fashion, selling 3D and AR clothing for avatars. WMG will work with the company to create new lines of these items for its artists and launch them on platforms including Instagram and Snapchat.
The major label is also investing in DressX, taking a stake in the company. “Digital merch and swag from musicians will definitely be a part of the digital wardrobes of fans, and it’s great to see that more and more stakeholders believe in this new domain that is already changing the fashion industry at a scale,” said its co-founders Daria Shapovalova and Natalia Modenova.
DressX also has its own NFTs marketplace, so the team-up is part of WMG’s wider flurry of dealmaking in that space – perhaps most comparable to its partnership with another avatar-focused startup, Genies.