Interactive and e-commerce platform creator LGND.io has announced a multi-year partnership with blockchain network developer Polygon and global entertainment company Warner Music Group to create a Web 3.0 music platform called LGND Music.
Due to launch in January 2023, LGND Music is designed to be a music and collectibles platform that supports “digital collectibles from any blockchain in its own player”, thus making it possible for users to play their digital collectibles anywhere.
The partnership will allow select Warner Music Group artists to release digital collectibles on both the app and desktop platforms. Creators will also be able to interact with their followers through special content and exclusive experiences. The platform will be based on Polygon and will offer cheaper fees and faster transactions.
LGND Music plans to offer a variety of features, making it possible for music collectors to participate in a decentralized ecosystem based on full ownership of digital assets. According to the company, “users of the platform will also be able to purchase and fully own music tokens and easily get started in digital collecting by creating a collection,” and it will be easy to use even for users unfamiliar with cryptocurrency or collectibles. digital.
The potential for integrating music into the Web 3.0 ecosystem looks promising. Before the creation of music platforms based on decentralized technologies like LGND Music, musicians harnessed the power of non-fungible tokens to transform their audiences into loyal communities.
The rise of a Web 3.0 platform dedicated to music could disrupt the entire music industry and open up new opportunities for creators and artists to innovate and monetize their creations. Goldman Sachs has predicted that the global music industry could be worth $131 billion by 2030; a significant part of that figure could be integrated into Web 3.0 environments.
Warner Music Group’s latest collaboration to create LGND Music comes months after announce a partnership with OpenSea to allow certain music artists to build and grow their fan base in the NFT marketplace.
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