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Warner announces partnership with green NFT firm OneOf

By | Published on Tuesday 1 February 2022

Warner Music

Time for Warner Music’s Web3 deal of the day, the mini-major having become particularly prolific when it comes to signing up to new fangled blockchain and NFT platforms and initiatives of late. Because, you know, who doesn’t love a bit blockchain bullshit and NFT nonsense?

Except, of course, there are all those lingering concerns about the environmental impact of NFTs and all the power required to run blockchain-based good times. Although, quite how much energy NFTs eat up does depend on what blockchain platform is used and how that platform is set up.

Most of the over-hyped NFT shenanigans last year utilised the Etherum blockchain which – although more energy efficient than Bitcoin – is pretty greedy when it comes to power. Although it’s in the process of changing the way it works so to reduce its energy consumption. Meanwhile, other blockchain based start-ups are bragging that the platforms they are using are even more eco-friendly.

This is relevant because Warner’s latest Web3 deal is with OneOf, which claims that its “platform mints NFTs that are up to two million times more energy efficient than the competition”. And it’s looking to dabble in various kinds of music NFTs, including so called digital collectables and royalty based tokens. And it will now be doing at least some of that dabbling with Warner Music.

Says Warner’s Chief Digital Officer & EVP Business Development Oana Ruxandra: “Web3 is a massive leap forward in technology: it will expand the scale and scope of both human and machine interactions far beyond what we can imagine today. Partnering with OneOf, a leader in the emerging technology space of Web3 and NFTs, gives our artists an edge in more authentically building one-to-one relationships with their fans and winning in the new Web3 economy. We’re excited to see what’s possible”.

Meanwhile, OneOf CEO Lin Dai adds: “From collectibles to music royalties, NFTs and Web3 represent the pulse of consumer demand and an exciting future for the music industry. We are THRILLED to partner and innovate together with Warner Music Group and use our cutting edge Web3 technology to bring their iconic labels and world-renowned artists to the next 100 million fans on blockchain”.

Good times. Now let’s all go and plant some trees. Just in case.



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