Sony Music’s RCA Records Web3 venture breaks into Greater China

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.

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 has signed 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.