SNEAK PEEK
- The partnership will allow artists of WMG to distribute music-based NFTs through the upcoming marketplace, LGND Music.
- Fans can purchase digital collectibles as well as buy and listen to songs in the form of NFT through the platform.
- The yet to launch platform will support non-fungible tokens from any blockchain.
A multi-year partnership has been announced by Warner Music Group with LGND and Polygon. The partnership intends to establish a Web3 platform, LGND Music, aimed at launching musical non-fungible tokens. Artists belonging to WMG will have the opportunity to launch their music in the form of NFTs, which can be purchased by fans.
LGND Music will release in January to offer songs in the form of NFTs. Fans can buy and listen to songs as well as purchase various other digital collectibles.
The marketplace will provide mobile and desktop apps to engage with the non-fungible tokens, something quite similar to an iTunes-type experience. Music NFTs from many other platforms will also be supported, as shared by the company.
Ready to experience the future of music? Build your collection, engage with your favorite artists, and discover new music. With LGND Music, you can purchase or play any music #NFT, from any platform. Be the first to experience #LGNDMusic. Coming Jan. 2023. https://t.co/TygYOEFoN0 pic.twitter.com/yuMWJMbd37
— LGND Music (@Lgnd_Music) December 5, 2022
As of now, LGND and WMG have not disclosed the names of artists who will launch the NFTs. However, they have shared that Spinnin’ Records is also a part of the deal. A key player in the electronic dance world, Spinnin’ Records has launched songs from popular artists like Robin Shultz, David Guetta, R3HAB and Tiesto.
Compared to other genres, Web3 and crypto have attracted more electronic dance musicians. NFTs have been sold and supported by renowned electronic artists like Dillon Francis, Deadmau5, 3LAU, and Steve Aoki.
LGND isn’t looking forward to forcing self-custody on its users, as crypto wallets and self-custody are considered irrelevant or complex for mass-market platforms, and LGND is one of them.
According to the marketplaces’ website, LGND won’t push users to link a crypto wallet before analyzing the platform. Furthermore, users’ assets will be kept safe.
Ryan Wyatt, Polygon Studios’ CEO, shared that, according to him, Polygon’s collaboration with LGND and WMG is going to be a thrilling achievement for the music industry. Adding on, he said that music is evolving in the way it is owned and experienced, thanks to collectibles and decentralized technologies.
WMG has entered into several collaborations in 2022. For instance, in January, it disclosed plans to introduce metaverse events and concerts into The Sandbox. In February, it entered into an agreement with Splinterlands, a crypto game, for the production of “arcade-style” games.
In September, Today NFT News reported Warner Music collaborates with OpenSea to introduce its artists to Web 3.0.
