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Warner Music Partners With Polygon To Support Web3 Music Projects

June 28, 2023 - Around 2 mins mins to read

Key Points:

  • Warner Music and Polygon Labs launched a music accelerator for blockchain music projects on the Polygon network.
  • The program aims to support innovation in Web3 and music, focusing on decentralized distribution, artist-fan communities, on-chain ticketing, and music collectibles.
  • Selected projects receive sponsorship, financial support, mentoring, networking, and marketing assistance.
Warner Music Group (WMG) and Polygon Labs, a growth and development team supporting the Polygon network, have announced the creation of a “groundbreaking” music accelerator program.
Warner Music Partners With Polygon To Support Web3 Music Projects

WMG is collaborating with Polygon Labs to develop a music accelerator program aimed at bringing the next generation of blockchain music projects and decentralized apps (dApps) to the Polygon network.

The accelerator intends to spark the next wave of innovation at the convergence of Web3 and music by assisting developers in developing music-related projects and dApps on the Polygon network, according to the companies.

Warner Music Partners With Polygon To Support Web3 Music Projects

According to WMG, the ideal candidates for the program are organizations and entrepreneurs working at the convergence of music, technology, and the Web3. Candidates that are most competitive will actively interact with or execute their proposals on the Polygon blockchain protocols. Ryan Wyatt, president of Polygon Labs, stated:

“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.”

Companies attempting to create new mechanisms for the decentralized distribution of music, those focused on fostering artist-fan communities, those developing on-chain ticketing solutions, and those exploring music-related collectible merchandise are reportedly among Warner and Polygon’s top priorities.

Warner Music Partners With Polygon To Support Web3 Music Projects

WMG and Polygon Labs will both sponsor the selected projects. In addition to money, chosen projects will be eligible for a variety of assistance, including mentoring and check-ins, strategic consulting, networking and relationship development, marketing and promotion, and more.

During the last two years, Warner Music has actively explored collaborations and test projects with a variety of blockchain-native enterprises, including NFT marketplace OpenSea, Polygon-based NFT music platform LGND Music, and metaverse platform The Sandbox.

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Harold

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Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.