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Inaugural Web3 Music Accelerator Program
In collaboration with Warner Music Group (WMG), Polygon Labs has unveiled the two grant recipients for the inaugural Web3 Music Accelerator program. The initiative, announced in June 2023, aims to foster innovation at the intersection of Web3 and the music industry. The program offers grants from WMG and Polygon Labs, strategic advice, networking opportunities, and marketing and promotion support, backed by blockchain infrastructure developers like CertiK, Coinflow, and Tatum.
Program Applications and Selection
Over 120 applications were submitted for the program, and the selected projects were chosen based on various criteria, including nurturing artist-fan communities, decentralized music production and distribution systems, ticketing solutions, collectibles and merchandise, and integrating music with interactive technology and gaming.
Grant Recipients
The first recipient, MITH, is a fan engagement platform that enables artists to unlock AI-driven insights and analytics while maintaining ownership of their first-party data on audiences. The second recipient, the Muus Collective, develops fashion-centric experiences, including mobile games, entertainment, and digital collectibles, exploring the convergence of fashion and digital experiences in the music industry.
According to WMG, these platforms are the perfect fit for their fan-first approaches to building communities across music and fashion. Jilian Rothman, Vice President of New Business and Ventures at WMG, emphasized the importance of meaningful connections between artists and fans and enabling fans to express their fandom.
Polygon’s Excitement
Brian Trunzo, head of business development for North America at Polygon Labs, expressed excitement about witnessing decentralized innovation moving toward mainstream adoption. He noted that both MITH and Muus Collective are redefining fan community engagement and are best-in-class platforms.
Polygon Accelerates Web3 Music Platform Development
Last June, Warner Music Group (WMG) and Polygon Labs launched a pioneering music accelerator program, setting the stage to co-support developers building the future of the music industry on Polygon protocols.
Developer Support Cohort
The Polygon ecosystem introduced a Developer Support Cohort to bolster this initiative, strategically designed to enhance accessibility to critical blockchain infrastructure, products, and services for select accelerator projects. This exclusive cohort consists of infrastructure and service providers committed to supporting the endeavor by offering special benefits such as discounts, vouchers, and premium services.
Partnership with LGND Music
Warner Music Group also partnered with Polygon Studios and LGN.io to build a Web3 music platform called LGND Music. This platform was designed to support digital collectibles from any blockchain in a proprietary player, enabling users to play their digital collectibles on the go.
Web3 music platforms could disrupt the music industry and unlock new opportunities for creators and artists to innovate and monetize their content. The global music industry is forecasted to be worth $131 billion by 2030, and a significant portion of that could be integrated into Web3 environments.