Polygon and Warner Music award Web3 Music accelerator Grants
Polygon Labs and Warner Music Group announce Web3 Music Accelerator Grants
In a joint venture, blockchain ecosystem developer Polygon Labs and music industry giant Warner Music Group (WMG) announced two beneficiaries of grants for their inaugural Web3 Music Accelerator program on January 25.
Web3 Music Accelerator Program:
Launched in June 2023, the Web3 Music Accelerator aimed to foster innovation at the intersection of Web3 and music. WMG received over 120 project proposals, selecting finalists based on criteria such as community-building for artists and fans, decentralized systems for music production and distribution, ticketing solutions, collectibles and merchandise, and the integration of music with interactive technology and games.
WMG's Mission:
Jilian Rothman, WMG's Vice President of New Business and Enterprises, emphasized the mission to provide important connections between artists and fans, as well as avenues for fans to express their enthusiasm.
Grant Recipients:
Two projects received grants: MITH, a fan engagement platform providing artists with AI-based insights and a comprehensive view of each fan, and Muus Collective, focusing on fashion-centered experiences, including mobile games, entertainment, and digital collectibles.
Polygon Labs' Excitement:
Brian Trunzo, Head of Business Development for North America at Polygon Labs, expressed excitement about decentralized innovation progressing toward full generalization through projects like these.
Support and Backing:
The Web3 Music Accelerator program offers backing from both WMG and Polygon Labs, providing strategic guidance, networking, marketing, and promotion. Additionally, the projects receive support from blockchain infrastructure developers such as CertiK, Coinflow, and Tatum.
WMG's Web3 Initiatives:
WMG has actively explored new pathways for the music industry using Web3 tools. In December 2022, it partnered with Polygon and LGND to launch its Web3 music platform. Around the same time, Polygon collaborated with Mastercard to launch a Web3 accelerator program for musicians entering the space.
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