Record label conglomerate Warner Music Group (WMG) partnered with LGND.io and Polygon Companies to launch LGND music. Through the platform, songs and other digital collectibles called “Virtual Vinyl” will be offered as NFTs. LGND will launch in January 2023, starting with WMG dance record label Spinnin’ Records.
Aside from allowing fans to trade music ownership, Virtual Vinyl will also support live ticketing, rewards, and exclusive access to additional features. The music made available on the LGND platform will also support Ethereum and WAX blockchain users, apart from those in the Polygon ecosystem.
WMG’s work in web3 dates back to 2019 when the company led an investment of $11 million in Dapper Labs, a blockchain game and NFT developer. In April, Warner announced a deal with Proof of Attendance Protocol (POAP) to create digital memento NFTs for music events. Over the last year, Warner Music has had an expanding presence in the blockchain games sector, with initiatives including partnering with ‘The Sandbox’ metaverse to create a virtual musical theme park, and a blockchain deal with NFT and play-to-earn game Splinterlands.
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