Polygon Labs and Warner Music Group Drive Music Industry’s Web3 Evolution

Blockchain ecosystem developer Polygon Labs and music industry giant Warner Music Group (WMG) on January 25 announced two grantees for the inaugural Web3 Music Accelerator program.

The Web3 Music Accelerator Program was announced in June 2023 in an effort to build innovation at the Web3 and music interface.

According to WMG, there were more than 120 applications from projects working in this unique space, and the final projects were selected based on criteria such as nurturing artist-supporting communities, decentralized music production and distribution systems, ticketing solutions, collection and merchandising, and integration. Music, interactive technology and gaming.

According to Jillian Rothman, vice president of new business and ventures at WMG, “meaningful ways for artists and fans to connect and for fans to express their fans” are two core elements of WMG's mission in the space.

Cointelegraph reached out to WMG for further comments on the future vision of the industry in the Web3 space.

One of the recipients is MITH, which allows artists to unlock AI-based insights and analytics to own first-party data on their audience, giving them a “360° view” of each fan.

Another is the Muus Collective, which is building “fashion-centric experiences” including mobile games, entertainment and digital collections.

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Brian Trunzo, head of North American business development at Polygon Labs, said the company is “excited” to see decentralized innovation becoming “absolutely mainstream” in projects like this.

The Web3 Music Accelerator Program offers support from WMG and Polygon Labs, strategic consulting, networking and relationship building, and marketing and promotion. The program receives support from blockchain infrastructure developers such as CertiK, Coinflow and Tatum.

WMG has been actively involved in forging new avenues for the music industry using Web3 tools. In December 2022, he first partnered with Polygon and LGND to launch the Web3 music platform.

At the same time, Polygon partnered with financial services provider MasterCard to launch a similar Web3 Accelerator program for musicians looking to break into the scene.

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