Polygon along with Warner Music Group launch Web3 and music program

Polygon Labs has announced the launch of a new music and Web3 program together with Warner Music Group. 

The project aims to foster a new generation of innovation and support developers to create music-related dApps. 

Polygon and Warner Music Group: the new project with music and Web3 dApps

Ethereum’s layer 2, Polygon, has announced a new partnership with Warner Music Group (WMG) to launch their program linking music and Web3.

This is a new music accelerator program designed to foster a next generation of innovation that links blockchain and music. 

Not only that, developers will be able to launch new music-related projects and dApps directly on the Polygon network. 

A true “future” of music that is mostly aimed at companies and entrepreneurs enthusiastic about using Web3 technologies.

And indeed, what will be possible with the new program is the promotion of artist and fan communities, the creation of decentralized music production and distribution systems, and the innovation of ticketing solutions

This includes the exploration of music-related merchandising and digital/physical collectibles as well as the integration of music with interactive technology and games

Polygon and WMG: Web3 technology to create the “future of music”

Up for grabs, the new program signed by Polygon and WMG puts up funding for those projects that will be selected

Not only that, such projects will also be eligible for a range of help from top players in the music and blockchain industry, including mentorship and check-ins, strategic consulting, networking and connection building, marketing and promotion.

In this regard, Ryan Wyatt, president of Polygon Labs said: 

“We’re delighted to join forces with WMG in our shared mission to bolster creativity and enterprise in music through new technology. By supporting companies and entrepreneurs at the intersection of Web3 and music, we aim to encourage a new era of innovation for the music industry.”

Oana Ruxandra, Chief Digital Officer and EVP, Business Development, WMG also shared her thoughts:

“WMG is focused on enabling its artists and songwriters to build, activate, engage and monetize their communities in this next era of music creation and consumption. Through this collaboration with Polygon Labs, we look forward to actively supporting the people, protocols and platforms that are pushing boundaries and helping WMG to reimagine how we use technologies to create, share and experience music.”

The new protocol version and price of MATIC

This June, Polygon announced a new version of its protocol to be introduced in the near future.

The idea of the Ethereum Layer 2 is to change the conception of how value is exchanged on the Internet

With the slogan “our vision is simple: build the value layer for the internet,” it appears that the new changes will cover Polygon PoS chain, the MATIC token, governance, and community-related treasury. 

As for MATIC, the native crypto on the Polygon blockchain, its price trend seems to be opposite to that of the queen of crypto Bitcoin (BTC)

And indeed, looking at the chart, MATIC has seen a price dump in the past seven days of -10%, while in the past month of as much as -33%

In contrast, BTC is bullish, keeping its price at $30,000 over the past week, while over the past month the pump has been +9%. 

At the time of writing, MATIC, the 13th crypto by market capitalization, is worth $0.61.