Further committed to blockchain-based initiatives, Warner Music Group announced Wednesday that it has formed a new music accelerator program in partnership with Polygon Labs that seeks to advance decentralized music-related applications and projects built on Polygon’s network.
The program will specifically look for projects that operate at the intersection of music and blockchain. Some examples of Warner and Polygon’s top priorities reportedly include companies trying to create new decentralized music distribution mechanisms, those focused on strengthening artist and fan communities, those developing chain ticketing solutions, and those exploring merchandise.music-related collections. Successful projects in those areas would ideally run on the Polygon blockchain.
The program will accept applications on a rolling basis. Projects accepted into the program will receive funding from both Warner Music and Polygon Labs, as well as access to both institutions’ networks in the form of mentoring, strategic advice, and marketing and promotional assistance.
“WMG is focused on empowering its artists and songwriters to build, energize, engage, and monetize their communities in this next era of music creation and consumption,” said Oana Ruxandra, Chief Digital Technologies Warner Music and EVP of Business Development, in a statement. launch.
Over the past two years, Warner Music has aggressively pursued partnerships and pilot programs with several blockchain natives, including NFT marketplace OpenSea, Polygon LGND Music-based NFT music platform, metaverse platform The Sandbox, and more.
This interest in decentralization and other cutting-edge technologies was further reinforced when former YouTube Chief Business Officer Robert Kinkel joined Warner Music in January as the company’s new CEO. Kyncl, a noted technology advocate, has since emphasized that “new technology initiatives” will be critical to Warner Music’s future.
In March, when the company laid off 270 employees, all roles related to its Web3 and AI initiatives were saved.