Polygon Labs and Warner Music Group Introduce Inaugural Web3 Music Accelerator Grant Winners
Summary:
Warner Music Group (WMG) and blockchain developer Polygon Labs have announced the two grant recipients of the inaugural Web3 Music Accelerator program. Launched in June 2023 to spur innovation in the intersection of music and Web3, the program received over 120 applications. MITH, a fan engagement platform driven by AI insights, and the Muus Collective, which is crafting fashion-forward digital experiences, were chosen for their potential to redefine the music realm. These projects will receive strategic support, networking and connection creation, and marketing promotion, taking a step towards mainstreaming decentralized innovation in the music industry.
Blockchain developer Polygon Labs and music titan Warner Music Group (WMG) disclosed the identities of two recipients who will benefit from their first-ever Web3 Music Accelerator program on January 25. The program, which was put into motion in June 2023, is aimed at fostering innovation where music meets the web3 universe. WMG reports that they sifted through more than 120 submissions from projects functioning within this unique space, handpicking recipients based on their potential to develop artist-fan communities, decentralized music production and dissemination systems, ticketing solutions, merch collectibles, and the integration of music with interactive tech and gaming. The vice president of new business and ventures at WMG, Jilian Rothman, emphasized that creating meaningful ways for artists and fans to interact, and enabling fans to display their appreciation towards artists are two central aspects of WMG's dedication to the web3 space. WMG has been approached for further commentary on how they envision the future of the music industry in the web3 domain. MITH, one of the chosen ventures, is a fan interaction platform that empowers artists to tap into AI-generated data comprehension and analytics while maintaining ownership of primary data on their audiences, and they provide an immersive view of each fan. The other platform, Muus Collective, is in the process of constructing "fashion-forward experiences", inclusive of mobile games and digital collectible items. Brian Trunzo, the head of business development for North America at Polygon Labs, expressed his thrill in witnessing such projects bring decentralized innovation closer to being universally accepted. As part of the Web3 Music Accelerator, grant recipients can anticipate receiving backing from WMG and Polygon Labs, alongside strategic advice, networking and connections, and marketing and promotional support. They also secure assistance from several blockchain infrastructure developers including CertiK, Coinflow, Tatum, and others. WMG is no stranger to the web3 landscape, having taken significant steps toward augmenting the music industry's adaptation of web3 resources. They first joined forces with Polygon Labs and LGND in December 2022 to debut their web3 music platform. Polygon collaborated simultaneously with Mastercard to initiate a comparable Web3 accelerator scheme for musicians eager to explore the space.
Published At
1/25/2024 5:00:00 PM
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