Beatport has partnered with blockchain network Polkadot to launch a digital collectible marketplace.
Developed and designed in partnership with Define Creative, Beatport.io will launch on Aventus, a Web3 solutions provider in the Polkadot ecosystem.
The Beatport Group is billed as the worldwide home of music for DJs, producers and their fans, including the Beatport digital music store for electronic music DJs.
The Beatport.io platform will enable record labels and artists to create and sell unique digital assets while generating greater fan engagement.
Ed Hill, SVP of Beatport’s Media Group, said: “The electronic music community has always been at the forefront of cultural shifts and their early embrace of Web3 and all the promise it offers is no different. To usher in a new era for the electronic music space, we felt it was important to join forces with a trusted, long-time leader in the blockchain space. Polkadot’s open and interoperable ecosystem enables us to seamlessly tap into Web3 and celebrate electronic music by connecting fans with their favourite artists in unique and powerful new ways.”
Björn Wagner, CEO of Parity Technologies, a leading contributor to the Polkadot network, said: “Many in the music industry are keen to discover ways in which Web3 can better support them. This initiative with Beatport and Aventus is a perfect example of the potential for Web3 to elevate the craft of artists. We’re excited to see this application of Polkadot’s technology to better connect artists directly with their fans and reignite the collectible aspect of music fandom that has largely been lost in the age of digital media.”
The digital collectibles will also in some cases become a fan engagement tool for artists and labels by providing early access to bonus features such as unreleased tracks, discounted tickets, and access to global events and interactive experiences.
In addition to launching Beatport.io, Beatport and Polkadot will also collaborate on 10 major events over the next 18 months. Each event will celebrate the launch of a new NFT collection accessible via Polkadot-integrated wallets.