Warner Music, Polygon Labs Launch Blockchain Music Accelerator

Additional committing to blockchain-based initiatives, Warner Music Group introduced Wednesday that it has shaped a brand new music accelerator program in partnership with Polygon Labs that seeks to bolster decentralized music-related apps and initiatives constructed on the Polygon community.

This system will particularly hunt down initiatives working on the intersection of music and the blockchain. Some examples of high priorities for Warner and Polygon purportedly embody corporations making an attempt to create new mechanisms for the decentralized distribution of music, these targeted on fostering artist-fan communities, these constructing on-chain ticketing options, and people exploring music-related collectible merchandise. Profitable initiatives in these areas would ideally function on the Polygon blockchain.

This system will settle for functions on a rolling foundation. Initiatives accepted into this system will obtain funding each from Warner Music and Polygon Labs, in addition to entry to the networks of each organizations within the type of mentorship, strategic advising, and help with advertising and marketing and promotion.

“WMG is concentrated on enabling its artists and songwriters to construct, activate, have interaction and monetize their communities on this subsequent period of music creation and consumption,” Oana Ruxandra, Warner Music’s Chief Digital Officer and EVP, Enterprise Improvement, stated in an announcement.

Over the previous two years, Warner Music has aggressively pursued partnerships and pilot packages with quite a few blockchain-native corporations, together with NFT market OpenSea, Polygon-based NFT music platform LGND Music, and metaverse platform The Sandbox, amongst others.

That curiosity in decentralization and different cutting-edge applied sciences solely additional solidified when Robert Kyncl, YouTube’s former chief enterprise officer, joined Warner Music as the corporate’s new CEO in January. Kyncl, a famous expertise advocate, has since emphasised that “new tech initiatives” will probably be central to Warner Music’s future. In March, when the corporate laid off 270 workers, all roles associated to Web3 and AI initiatives had been spared.