WMG and Polygon Labs are offering funding and business support to developers building at the intersection of Web3, technology, and music.
The music industry still might be skeptical about the role of emerging technologies like artificial intelligence and NFTs, but Warner Music Group and Polygon Labs are leaning into new opportunities by launching a blockchain technology-focused music accelerator.
WMG partnered with Polygon to foster innovation in the Web3 and music spaces. Through the new program, WMG and Polygon will support developers creating music-related projects and decentralized apps on the Polygon blockchain network. The pair is accepting applications to support new projects with funding, mentorship, strategic advising, marketing, promotion, and networking opportunities.
WMG and Polygon will approve projects on a rolling basis, and the application requires developers to share pitch decks, demonstrate proof of traction and create proposals for how they’ll use the program’s funding. Selected projects will meet with WMG and Polygon on a quarterly basis to share progress.
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“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,” Oana Ruxandra, chief digital officer and EVP of business development at WMG, said in a news release. “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.”
Per the application, WMG and Polygon are looking for projects focused on artist and fan communities, decentralized music production and distribution, music merch and phygital goods, blockchain ticketing, and immersive music and interactive tech and gaming products. The program’s application process officially kicked off today.
Warner Music Group previously collaborated with Polygon to launch a music NFT platform dubbed LGND Music last December. This partnership allows artists to release songs as NFTs for fans to collect, listen to, and trade. WMG and Polygon’s blockchain music accelerator is a natural progression in their ongoing partnership.
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