Warner Music Group (WMG) Invests in Web3
The world is on the brink of a Web3 Music Revolution. Warner Music Group (WMG) and Polygon Labs, known for their growth and development support in the Polygon network, have joined forces in launching a groundbreaking music accelerator program. This initiative aims to propel the next generation of innovation at the intersection of Web3 and music, by supporting developers launching music-related projects on the Polygon network.
A Groundbreaking Partnership: WMG and Polygon Labs
This strategic partnership heralds a new era where the traditional music industry meets groundbreaking blockchain technology. Ryan Wyatt, President of Polygon Labs, expresses delight at the collaboration, stating:
“We’re delighted to join forces with WMG in our shared mission to bolster creativity and enterprise in music through new technology.”
Fueling Innovation at the Intersection of Web3 and Music
The accelerator’s primary goal is to enable artists and songwriters to build, activate, engage, and monetize their communities in this new era of music creation and consumption. Oana Ruxandra, Chief Digital Officer and EVP, Business Development, WMG, captures the vision perfectly:
“WMG is focused on enabling its artists and songwriters to build, activate, engage, and monetize their communities in this next era of music creation and consumption. Through this partnership with Polygon Labs, we look forward to actively supporting the people, protocols, and platforms that are pushing boundaries and helping WMG to reimagine how we use technologies to create, share, and experience music.”
The Ideal Applicants: Merging Music, Tech, and Web3
Potential applicants are companies and entrepreneurs operating at the music, technology, and Web3 intersection. They should focus on fostering artist-fan communities, establishing decentralized music production and distribution systems, innovating ticketing solutions, exploring music-related merchandise and digital/physical collectibles, and integrating music with interactive technology and gaming.
Selected Projects: What’s in It for Them? Selected projects will receive funding from both WMG and Polygon Labs. In addition, they will be eligible for a range of support from mentorship and check-ins, to strategic advising, networking and connection creation, and marketing and promotion. The endorsement from these two industry-leading entities could potentially change the future of music and blockchain.
The Web3 Music Revolution is here, and it is set to reshape how we create, share, and experience music. As we enter this new era of digital music, we’d love to hear your thoughts on this revolution. Do you think blockchain technology will be the game-changer for the music industry? How do you see Web3 transforming the music world? Share your thoughts in the comment section below.
