LGND.io, a blockchain-based e-commerce and interactive platform, has announced that it has entered into a multi-year partnership with Warner Music Group, a global music and entertainment company.
Separately, Polygon, one of the world’s leading blockchain developers, will collaborate on a project called LGND Music. It will officially go on sale in the first month of 2023.
A new era in the music industry 🎶@LGND_music announced a multi-year partnership with @warnermusic and Polygon for a new collaborative, digital collectible platform, LGND Music https://t.co/fXxnaPouPH pic.twitter.com/MrdJ4fR8mS
— Polygon (Labs) (@0xPolygonLabs) December 6, 2022
“We are pleased to announce this wonderful collaboration with WMG and Polygon. We’ve been working for over a year to bring a world-class blockchain experience to music fans around the world, and we’re looking forward to discovering innovative and unique content from all of WMG’s artists.” With the strong support of the Polygon ecosystem, LGND Music is poised to contribute to the evolution of the entire music industry,” said Michael Rockwell, CEO of LGND Music.
LGND Music announced the partnership on twitter and WMG announced it via press release.
🎷🎸🎺🎻🥁 A NEW era in the music industry🎶
— LGND Music (@LGND_Music) December 6, 2022
LGND Music’s goal is to support blockchain digital collections, which will allow users to play the collections or “virtual vinyl” at their leisure.
Through this collaboration, WMG’s selected artists will be able to release collectibles through apps and computers. Consumers will be able to access and enjoy specially selected content from their favorite artists.
Built on Polygon, the music platform aims to offer its users a seamless transaction process.
“Web3 has what it takes to change the music industry for the benefit of fans and artists. The way we own and experience music is changing, fully embracing decentralized and charging technologies. This exclusive partnership between Polygon, LGND and WMG represents an important milestone for the music industry. Polygon is pleased to lead this ingenious initiative that will elevate music ownership and attract more artists and music lovers to the Network.
We are excited about the opportunity to bring artists and music lovers to the Web3,” said Ryan Wyatt, CEO of Polygon Studios.
“We are excited to peer how the tune industry is evolving with new technology. There is massive untapped potential for artists to interact with their lovers and monetize fandom. And as we move forward, WMG’s partnership with LGND and Polygon will assist our artists experiment and develop Web3 technology to grow and have interaction with their groups,” stated Oana Ruxandra, WMG’s Chief Digital Officer and Executive Vice President of Business Development in the reliable release.
There is huge untapped potential for artists to interact with their fans and monetize fandom. And as we move forward, WMG’s partnership with LGND and Polygon will help our artists experiment and develop Web3 technologies to grow and engage with their communities,” stated Oana Ruxandra, WMG’s Chief Digital Officer and Executive Vice President of Business Development in the official release.
While little is known about the artists that will be featured on the platform, popular electronic music label Spinnin’ Records is said to be part of the deal.
WMG and Web3
WMG has been actively involved in the Web3 space through the metaverse concert The Sandbox, the collaboration with Splinterlands for an arcade game around its artists and the latest LGND Music announcement.
In addition, WMG recently announced a partnership with OpenSea to provide a platform for some of its artists to create and grow their fan community.
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