Sony Music Entertainment has set up a new Greater China venture for its American label RCA Records to explore opportunities in streaming, non-fungible tokens (NFTs) and the metaverse.
See related article: John Legend’s OurSong raises US$7.5 mln to fuel music NFTs
Fast facts
- The new label, dubbed “RCA Records Greater China,” will make key hires in artist management and Web 3.0, the company said on Friday.
- Sony Music’s move comes as labels actively tap into the NFT and metaverse trends, with Warner Music announcing a music-themed digital world in the Sandbox metaverse in January.
- RCA Records said it will be collaborating with Jackson Wang, a Hong Kong rapper and a member of K-pop group GOT7, and A-Lin, a pop star from Taiwan.
- The Korean entertainment industry has also been an active player in metaverse developments, with rival K-pop labels HYBE, SM, JYP and Cube Entertainment announcing related ventures over the past year.
See related article: What does Music have to do with NFTs?