The Sandbox has announced a partnership with Warner Music Group (WGM) to create a concert venue within the notable metaverse platform. The space will be part virtual venue, part amusement park, and will host concerts and live experiences from artists represented by WMG.

Read more: What are NFTs actually used for? A guide, from art and music to gaming and movies

This marks WMG's first entry into the NFT realm. However, they're just the latest to purchase land within the virtual world of The Sandbox, joining Snoop Dogg, Steve Aoki and others.

According to a statement, the idea is to provide artists with another outlet to engage with fans. They also want to experiment with forms of virtual entertainment that "defy real-world limitations" and generate new revenue streams.

Chief Operations Officer and co-founder of The Sandbox, Sebastian Borget, says the partnership will bring “the open metaverse one step forward in the direction of fan-owned and community-driven initiatives.”

“We’re shaping The Sandbox as a fun entertainment destination where creators, fans, and players can enjoy first-of-a-kind immersive experiences and be more closely connected to their favorite musical artists through NFTs," he continues.

Multiple record labels make up WMG, including Atlantic, Warner Records and Elektra. They represent a wide range of artists including Disturbed, Dua Lipa, Lizzo and more.

The Sandbox will also hold a sale in March for fans to buy lands adjacent to the WMG property.