Business News Report
December 07, 2022

Warner Music Group taps Polygon and LGND Music to develop “Virtual Vinyl” NFTs

In Brief

WMG partners with Polygon blockchain and LGND Music to develop “Virtual Vinyl” NFTs

The collection is set to come out in January 2023

Global entertainment company Warner Music Group partners with Polygon blockchain and LGND Music to develop a “Virtual Vinyl” digital collection.

LGND Music is an innovative collectibles platform that currently functions in Beta and will officially launch in January 2023.

The partnership will enable fans to purchase NFTs of music released by selected artists from Warner Music’s Spinnin’ Records label. Polygon blockchain will offer fast transactions and low gas fees, making the process easy and sustainable. 

In practical means, the platform will function as an NFT music player. NFT ownership will grant holders access to their favorite music, experiences, and artists. Notably, LGND Music plans to make the collectibles available for desktop and mobile devices, so users can listen to their favorite tracks using any platform. 

“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 the Chief Digital Officer at Warner Music Group, Oana Ruxandra. 

On a side note, the companies signed a multi-year partnership, so music lovers can expect more releases coming in the future. Fans can now sign-up to the LGND Music platform to receive early access and updates. 

The partnership is not WMG’s first step into the web3 space. In September, Warner Music Group partnered with NFT marketplace OpenSea to expand web3 opportunities for artists and their fans. Before that, the company collaborated with audio equipment company Bose and Jeremy Fall’s project Probably Nothing to release an NFT collection.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

More articles
Valeria Goncharenko
Valeria Goncharenko

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

From Ripple to The Big Green DAO: How Cryptocurrency Projects Contribute to Charity

Let's explore initiatives harnessing the potential of digital currencies for charitable causes.

Know More

AlphaFold 3, Med-Gemini, and others: The Way AI Transforms Healthcare in 2024

AI manifests in various ways in healthcare, from uncovering new genetic correlations to empowering robotic surgical systems ...

Know More
Join Our Innovative Tech Community
Read More
Read more
Biswap Releases New Strategic Roadmap, Focuses On Multi-Chain Expansion And Introduction Of Liquid Staking
Markets News Report Technology
Biswap Releases New Strategic Roadmap, Focuses On Multi-Chain Expansion And Introduction Of Liquid Staking
May 24, 2024
Web3 AI Unveiled: Jimmy Zhao Unpacks How BNB Chain’s Integration of Blockchain and AI Redefines Trust, Transparency, and Decentralization
Interview Business Markets Software Technology
Web3 AI Unveiled: Jimmy Zhao Unpacks How BNB Chain’s Integration of Blockchain and AI Redefines Trust, Transparency, and Decentralization
May 24, 2024
Hyperliquid Unveils HIP-1 Spot Token Deployment Function On Its Mainnet, And Recommends Testing For Smooth Deployment
News Report Technology
Hyperliquid Unveils HIP-1 Spot Token Deployment Function On Its Mainnet, And Recommends Testing For Smooth Deployment
May 24, 2024
This Week’s Top Deals, Major Investments in AI, IT, Web3, and Crypto (20-24.05)
Digest Top Lists Business Lifestyle Markets Software Technology
This Week’s Top Deals, Major Investments in AI, IT, Web3, and Crypto (20-24.05)
May 24, 2024