Launch of Web3 music platform by Warner Music, Polygon, and LGND in partnership

 Launch of Web3 music platform by Warner Music, Polygon, and LGND in partnership

The dance record label Spinnin' Records will be a part of LGND Music when it launches formally in January 2023.

In order to construct LGND Music, a Web3 music platform, blockchain network developer Polygon, Warner Music Group, and e-commerce and interactive platform builder LGND have formed a multiyear agreement.

When LGND Music launches in January 2023, it will be a platform for music and collectibles that "supports digital collectibles from any blockchain in a proprietary player," enabling users to play their digital treasures.

 Launch of Web3 music platform by Warner Music, Polygon, and LGND in partnership

It will be simple to use even for people who are not familiar with cryptocurrencies or digital collectibles, such as "creating a collection."

The integration of music into the Web3 ecosystem appears to have great potential, as artists have long used nonfungible tokens to turn their listeners into devoted communities.

 Launch of Web3 music platform by Warner Music, Polygon, and LGND in partnership

Web3 music platforms have the ability to upend the music business and provide up new avenues for innovators and artists to monetise their work. According to Goldman Sachs, the worldwide music market might be worth $131 billion by 2030, with a sizable chunk of that potentially being included into Web3 environments.

Following the announcement of a partnership with OpenSea to enable a select group of musical artists to increase and expand their fan base  on the NFT market place, Warner Music Group has now joined forces to create LGND Music.