The convergence of Web3 and music holds immense potential in promoting decentralized ownership, transparent royalty distribution, and unique artist-fan engagements. To harness this power, Warner Music Group (WMG) and Polygon Labs have joined forces to launch a blockchain-powerd music accelerator program!
This initiative aims to accelerate the adoption of blockchain-based music projects and decentralized applications (dApps) on the Polygon network.
The program will foster vibrant artist-fan communities and establish decentralized platforms for music creation. It also involves formulating innovative ticketing solutions, delving into music-related products and collectibles in digital and physical domains.
Ryan Wyatt, the President of Polygon Labs, expressed his excitement regarding the alliance. He mentioned that this partnership held personal significance for him. This is because Robert Kyncl had been his boss at YouTube before assuming the role of CEO at WMG.
Applications to the program will undergo a rolling review process, and the projects that are selected will be provided with a range of opportunities. Firstly, they will receive combined funding from WMG and Polygon Labs. This will ensure that they have adequate financial backing to bring their concepts into reality.
These projects will also benefit from partnership support within the expanding Polygon developer ecosystem, offering valuable assistance to foster growth.
Additionally, regular check-ins with WMG and Polygon Labs will be scheduled on a quarterly basis. All of these will be geared towards facilitating ongoing guidance, feedback, and support to maximize the potential of the selected projects.
Interested developers can apply to the music accelerator program by clicking here.
Warner Music Group has demonstrated a proactive approach in embracing blockchain technology through partnerships like this. The company’s notable achievements include the establishment of a music-inspired amusement park in The Sandbox. Furthermore, the company have collaborated with popular platforms in the sector, like OpenSea, Dress X, and LGND.
The activities of WMG in the Web3 world are remarkable, and we want to witness the continuation of the activities!