Polygon and LGND.io, a blockchain-based e-commerce and interactive platform have joined forces with Warner Music Group (WMG), a multinational music and entertainment corporation, to create a new project called LGND Music. The music platform is built on Polygon to offer its users a streamlined purchasing experience.
LGND Music’s intention is to facilitate the use of digital blockchain collectables, allowing its users to listen to their “Virtual Vinyls” whenever they like. This is a first for the music industry and will likely trigger significant excitement among lovers of music.
WMG, LGND and the web3 musical revolution
LGND Music is planned for release in January 2023, and it will function as a music and collectables platform that supports digital treasures from any blockchain in a proprietary player. Users will be able to take their digital collectables with them and play them anywhere. WMG is a major copyright holder in the music industry and an early adopter of Web3 technology. This is a telling sign for the future of the music and entertainment industry.
This agreement transforms the LGND Music platform into a community hub for artists and their audiences. In this case, the NFTs on offer would be musical compositions that the listener may pay for. This would open the door for WMG artists to release digital collectables through the app and website. WMG says that their collaboration with LGND and Polygon will allow artists to freely explore and develop across Web3 technologies, ultimately leading to more audience growth and participation.
Every day, there are new examples of how people are using Web3. This course focuses on the music business from the perspective of both listeners and artists. By working together, Polygon, LGND, and WMG will enable access to digital music libraries on any blockchain. Moreover, WMG is not the only company working toward this goal. Another international media giant, Sony Entertainment, has just started supporting NFTs.