Warner Music Group is diving deeper into Web3, working closely with Polygon and LGND to allow artists to release songs as NFTs.
Warner Music Group has announced a multi-year partnership with LGND and Polygon that will allow it to create LGND Music, a Web3 platform that will host musical NFTs for fans to collect, listen to, and trade.
Artists signed to the renowned record label will be able to release their music as NFTs through the platform, which is set to launch in January. LGND Music will be desktop and mobile app-compatible.
“Web3 has the power to transform the music industry for both artists and fans,” Polygon Studios CEO Ryan Wyatt said in a statement. “The way that we own and experience music is evolving, by fully embracing decentralized technologies and collectibles, this exclusive partnership between Polygon, LGND, and WMG represents an exciting milestone for the music industry.”
The Polygon blockchain system operates using the Ethereum blockchain, so it can easily be thought of it as an extension of the popular network. At the time of launch, LGND said that users will be able to listen to any musical NFT through its platform, with plans to interface with other platforms working with music NFTs.
Polygon announced in a thread of tweets that select artists from Warner Music Group’s network would connect fans to exclusive content and experiences when they purchase their NFTs on LGND Music. The partnership deal also includes Warner Music Group’s Spinnin Records, which is a dance label and community heavily connected in the electronic music space.
Warner Music Group and LGND haven’t announced any artists working with the upcoming platform at this time.
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