- Warner Music Group and Polygon Labs have teamed up to establish a music accelerator program aiming to bolster the next wave of blockchain music projects and decentralized applications (dapps) on the Polygon network.
- Selected projects will be provided funding, mentorship, and networking opportunities from both WMG and Polygon Labs, showcasing a commitment towards spurring a new era of innovation in the music industry.
Warner Music Group (WMG), a global entertainment conglomerate, is joining hands with Polygon Labs, forming an alliance to propel a music accelerator program. The vision behind this endeavor is to stimulate the upcoming generation of blockchain-based music projects and decentralized applications (dapps) within the Polygon network.
— Polygon (Labs) (@0xPolygonLabs) June 28, 2023
This program is particularly designed for those ventures and entrepreneurs that stand at the crossroads of music, technology, and Web3. The focus is expansive, ranging from cultivating artist-fan communities and instituting decentralized music production and distribution systems, to novel ticketing solutions and exploring music-associated merchandise in both digital and physical collectible forms. Moreover, it also extends to integrating music with interactive technology and gaming.
Successful candidates for this program will be rewarded with funding from both WMG and Polygon Labs. Moreover, they will gain access to mentorship and networking opportunities, learning from experts across the music and blockchain fields. As stated by Ryan Wyatt, the president of Polygon Labs,
“By supporting companies and entrepreneurs at the intersection of Web3 and music, we aim to encourage a new era of innovation for the music industry.”
Polygon has already demonstrated its penchant for integration of Web3 technology, forming partnerships with significant brands such as Starbucks, Reddit, and Nike. In a recent venture with Mastercard, Polygon facilitated the release of free NFTs and launched a Web3 music accelerator program to equip emerging artists with educational tools and mentorship.
On the other hand, WMG is also on a path of consistent blockchain expansion, demonstrated by their partnership with blockchain gaming company Splinterlands to curate play-to-earn (P2E) games for their ensemble of artists. Another noteworthy development is the launch of a music-centric theme park within The Sandbox metaverse platform.
This joint venture between WMG and Polygon Labs will result in a series of music NFTs via the NFT marketplace LGND. The endeavor encapsulates WMG’s commitment towards empowering its artists and songwriters to build, engage, activate, and monetize their communities in this new phase of music creation and consumption, according to Oana Ruxandra, Chief Digital Officer and EVP, Business Development, WMG.