LGND.io, the e-commerce and interactive platform builder that delivers revolutionary benefits of blockchain through consumer-friendly technology, announced a multi-year partnership with Warner Music Group (NASDAQ: WMG), the global music and entertainment company, and Polygon Companies, a developer of the leading blockchain development network onboarding millions to Web3, for a new collaborative project, LGND Music. LGND Music officially launches in January 2023 and will include a collaboration with the world’s leading dance record label, Spinnin’ Records – a WMG label leaning into a number of activities in the Web3 space.
LGND Music is an innovative music and collectibles platform that will support digital collectibles from any blockchain in a proprietary player, allowing consumers to play their digital collectibles, or “Virtual Vinyls” on-the-go. Through the partnership, select WMG artists will launch digital collectibles on both the app and desktop platform to enable fans with the opportunity to enjoy special content and experiences from their favorite artists. To ensure a seamless experience for users, the platform will be built on Polygon, offering lower gas fees and faster transactions in an open, permissionless, and sustainable environment.
“We are beyond thrilled to finally announce this monumental and ground-breaking partnership with Warner Music Group and Polygon,” said Michael Rockwell, CEO of LGND Music. “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.”
Oana Ruxandra, Chief Digital Officer & EVP, Business Development, WMG said, “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.”
CEO of Polygon Studios, Ryan Wyatt said: “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.”
LGND Music will launch a variety of innovative features, offering passionate music collectors a decentralized ecosystem based on full ownership of digital assets. Streaming services are great to explore via subscription, but the power of ownership is strong, and LGND Music will let users buy and fully own music tokens and easily get started with digital collectibles by building a collection – it’s a seamless, easy-to-use on-ramp for fans who are not yet familiar with cryptocurrencies or digital collectibles.
