The global music and entertainment company Warner Music Group (NASDAQ: WMG) and Polygon, a creator of the top blockchain development network onboarding millions to Web3, have announced a multi-year partnership with LGND.
LGND is an e-commerce and interactive platform builder that delivers revolutionary benefits of blockchain through user-friendly technology for a new joint venture called LGND Music. A collaboration between LGND Music and Spinnin’ Records will be included in the formal launch of LGND Music in January 2023.
According to the blog post, the launch is intended to enable “digital valuables from any blockchain in a proprietary player,” enabling users to play their digital treasures while on the road. In order to provide fans the chance to experience exclusive material and experiences from their favorite artists, certain WMG artists will introduce digital collectibles on both the app and desktop platform through the relationship.
Also, to ensure a seamless user experience, the platform will be built on Polygon, offering lower gas fees and faster transactions in an open, permissionless, and sustainable environment.
Michael Rockwell, CEO of LGND Music, said, “We are beyond excited to finally announce this massive and ground-breaking cooperation with Warner Music Group and Polygon.
LGND Music is positioned to contribute to the evolution of the whole music industry with the backing of the Polygon ecosystem.
According to Ryan Wyatt, CEO of Polygon Studios, Web3 has the potential to completely change the music business for both artists and fans. By fully adopting decentralized technologies and collectibles.
He further mentioned that the exclusive alliance between Polygon, LGND, and WMG signals an exciting turning point for the music business. The innovative project that will enhance music ownership and attract more music fans and artists to Web3 is one that Polygon is proud to be driving.
The Chief Digital Officer & EVP of Business Development at WMG, Oana Ruxandra, expressed her excitement about how the company is tremendously enthused about the ways new technology is changing and confronting the music industry.
She added that WMG’s collaboration with LGND and Polygon would enable its artists to explore and develop across Web3 technologies in order to expand and engage their communities as we continue to lean in and move forward.