Warner Music Group has partnered with Polygon Labs on the launch of a music accelerator programme.
The project aims to power the next generation of innovation at the intersection of Web3 and music, by supporting developers launching music-related projects and decentralised applications on the Polygon network.
“The ideal applicants consist of companies and entrepreneurs operating at the intersection of music, technology and Web3,” said a statement. “They should focus on various areas such as fostering artist-fan communities, establishing decentralised music production and distribution systems, innovating ticketing solutions, exploring music-related merchandise and digital/physical collectibles, and integrating music with interactive technology and gaming. Applicants who meet the criteria should demonstrate a strong enthusiasm for the future of music and possess ideas that go beyond the initial stage of conceptualisation.”
The most competitive candidates will “actively engage with or implement their concepts on the Polygon blockchain protocols”, according to the announcement. Applications can be submitted here.
“WMG is focused on enabling its artists and songwriters to build, activate, engage and monetise their communities in this next era of music creation and consumption,” said Oana Ruxandra, chief digital officer and EVP, business development, WMG. “Through this partnership 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.”
"We're delighted to join forces with WMG in our shared mission to bolster creativity and enterprise in music through new technology," said Ryan Wyatt, president of Polygon Labs. "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."
Selected projects will receive funding from both WMG and Polygon Labs. In addition to funding, they will be eligible for a range of support, including mentorship and check-ins, strategic advising, networking and connection creation, and marketing and promotion.
Applications will be reviewed on a rolling basis, and will require projects to submit pitch decks, demonstrate proof of traction, and detail their proposed use of funds. Projects who receive funding will then meet with WMG and Polygon Labs on a quarterly basis to provide updates, review progress and receive strategic advice.