LGND.io Partners With Warner Music Group and Polygon For NFT Project

The major label is actively taking part in being an integral part of the web3

learn more about Paromita Gupta

By Paromita Gupta • Dec 12, 2022 Originally published Dec 12, 2022

Entrepreneur India

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

LGND.io, a blockchain-based e-commerce and interactive platform, announced it was entering into a multi-year partnership with Warner Music Group, a global music and entertainment company, and Polygon, one of the leading global blockchain developers, to collaborate on a project titled LGND Music. It will officially hit the floor in the first month of 2023.

"We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon. We've been working for over a year to deliver the best-in-class blockchain experience for passionate music lovers all over the world, and look forward to innovative and unique content from all types of WMG artists. With the strong support of the Polygon ecosystem, LGND Music is poised to help evolve the entire music industry," said Michael Rockwell, CEO of LGND Music.

LGND Music took to its official Twitter account to announce the partnership, while WMG shared the same through its press release.

LGND Music is aimed at supporting digital blockchain collectibles, which will let its users play the collectibles or 'Virtual Vinyls' as per their convenience. Through this collaboration, WMG's selected artist will be able to launch collectibles through app and desktop. Consumers will be able to access and enjoy specially-curated content by their favorite artists. Built on Polygon, the music platform aims at providing its users with a seamless transaction process.

"Web3 has the power to transform the music industry for both artists and fans. The way that we own and experience music is evolving, by fully embracing decentralized technologies and collectibles, this exclusive partnership between Polygon, LGND, and WMG represents an exciting milestone for the music industry. Polygon is proud to be powering this innovative initiative that will elevate music ownership and bring more music lovers and artists to Web3," said Ryan Wyatt, CEO of Polygon Studios.

"We are incredibly excited about the ways in which evolving technologies are changing and challenging the music industry. There is tremendous untapped potential for artists to interact with their fans and to monetize that fandom. And, as we continue to lean in and drive forward, WMG's partnership with LGND and Polygon will help our artists to experiment with and build across Web3 technologies in order to grow and engage their communities," said Oana Ruxandra, Chief Digital Officer & EVP, Business Development, WMG in its official statement.

While not much is known about the artists who will be on the platform, the label's popular electronic dance Spinnin' Records is said to be a part of the deal. WMG has been actively participating in the web3 space through its metaverse concert in The Sandbox, partnering with Splinterlands' for an arcade game revolving around its artists, and the latest announcement of LGND Music.

Paromita Gupta

Features Writer

Related Topics

News and Trends

Bversity Raises INR 1.5 Crore In Seed Funding

The fund raised will utilized to build team, build a user- friendly and trustworthy edtech platform with masterclass-style courses

News and Trends

Google CEO Sundar Pichai Likely To Take Huge Pay Cut For Senior Executives

According to reports, Pichai didn't mention the percentage of salary that will be cut and for how long

News and Trends

Saarthi Pedagogy Closes Final Tranche Of 30 Crore Pre Series-A Funding

The funds from this round will be utilised for product enhancement, the ramp-up of the technology team, content creation, and expansion of the sales footprint

Business News

'You're Going Way Back In Time': Bill Gates Gets Visibly Irritated When Pressed on Epstein

The billionaire sat down for an interview with ABC 7.30 in Australia where he was asked about his former dealings with the disgraced financier.

Growing a Business

How to Build a Reputation That Will Become a Real Asset for You

Here are a few tips on building a personal brand and reputation that sets you and your business up for success.