Ethereum Sidechain Polygon Blockchain and Warner Music Group to Roll Out Music Accelerator
Warner Music Group (WMG), a prominent global entertainment corporation, has forged a strategic alliance with Polygon Labs in order to introduce a music accelerator program. This program aims to provide comprehensive assistance and facilitate the inclusion of upcoming blockchain music projects and decentralized applications (dapps) on the Polygon network.
As per the information provided in a press release, the program is actively seeking out proficient individuals who possess expertise in the intersection of “music, technology, and Web3”. Applicants are advised to prioritize several key areas in their proposals. These areas encompass the cultivation of artist-fan communities, the creation of decentralized systems for music production and distribution, the implementation of inventive ticketing solutions, the exploration of music-related merchandise and collectibles in both digital and physical formats, and the integration of music with interactive technology and gaming.
Both WMG and Polygon Labs have committed to providing financial support for the chosen initiatives. Furthermore, participants will be granted the privilege of accessing mentoring and networking opportunities that are expertly facilitated by professionals from the music and blockchain industries. Ryan Wyatt, the President of Polygon Labs, expressed his intention to cultivate a fresh wave of innovation within the music industry by providing support to companies and entrepreneurs operating at the convergence of Web3 and music.
Polygon has previously established strategic collaborations with prominent brands including Starbucks, Reddit, and Nike, with the aim of seamlessly incorporating Web3 technology into their operations. In the month of April, a collaborative effort between the Ethereum scaling solution and Mastercard resulted in the release of complimentary non-fungible tokens (NFTs) and the initiation of a Web3 music accelerator program. This program aims to offer aspiring musicians valuable educational materials and guidance through mentorship opportunities.
Furthermore, WMG has been actively increasing its footprint within the blockchain sector. The company entered into a collaboration with Splinterlands, a prominent blockchain gaming company, with the aim of developing play-to-earn (P2E) initiatives for its talented artists. Additionally, they sought to establish a virtual theme park centered around music within The Sandbox metaverse platform. The LinkedIn job posting for the position of Senior Director of Metaverse Development highlights the company’s proactive efforts in seeking out skilled professionals in the field of metaverse development. In December, a collection of music NFTs was released by WMG and Polygon through the NFT marketplace LGND.