American entertainment juggernaut Warner Music Group and Polygon Labs have deepened their alliance with the launch of a new music accelerator program that aims to drive “the next generation of innovation at the intersection of Web3 and music.”
For the program, the two companies plan on backing developers releasing music-related projects and decentralized applications (dApps) on the Polygon network.
According to the official announcement, applications for the program will be reviewed on a rolling basis, and selected projects will receive several benefits. This includes joint funding from WMG and Polygon Labs as well as partnership assistance throughout the growing Polygon developer ecosystem.
Additionally, the two platforms will also offer quarterly check-ins to the selected projects as well as strategic advising, networking and connection creation, and marketing and promotion.
Warner and Polygon would ideally lean towards applicants for the initiative at the intersection of music, technology, and Web3 that focus on key areas such as advancing artist-fan communities, establishing decentralized music production and distribution systems, innovating ticketing solutions, exploring music-related merchandise and digital/physical collectibles and integrating music with interactive technology and gaming.
“Polygon Labs and WMG are partnering to help support, advance and scale the next generation of standout music x Web3 projects. If you’re music obsessed and passionate about how Web3 can unlock value for creators, fans and music artists–this program is for you!”
WMG’s Chief Digital Officer Oana Ruxandra said that the record label conglomerate seeks to enable its artists and songwriters to “build, activate, engage, and monetize their communities in this next era of music creation and consumption” with the new accelerator program.
The latest development isn’t the first time that Polygon and Warner Music Group have teamed up. In fact, the two companies joined forces with e-commerce platform LGND.io last December to launch a multi-year web3 music program enabling users to play digital vinyl on the go.
The record label also expanded its metaverse strategy after recently partnering and investing in digital fashion retailer – DressX. WMG also dived into blockchain gaming after forging partnership with Splinterlands.
