Polygon, LGND Music, Warner Music, Winamp, and Animoca Brands are paving new paths to scale the music industry in the blockchain and Web3 ecosystem. This and more news in this handy daily roundup so you're always up to date with the latest events happening within the crypto world.
Web3 Music
📍Polygon, LGND Music and Warner Music support Web3 music. Polygon, LGND Music and Warner Music have partnered to bring new ways to stream and own music. Via Twitter, Polygon Network announced that it will be launching a new music commerce platform called LGND Music in partnership with one of the world’s largest record labels, Warner Music.
New music platform LGND Music will allow users to play digital music collectibles, called “virtual vinyl,” on the blockchain.
This partnership reinforces Polygon Network's goal of becoming the leading on-ramp to Web3 for businesses around the world and Warner Music's vision of leveraging the new opportunities offered by blockchain technology to deliver more innovative experiences to its users.
Winamp supports NFT music
📍Winamp users can play NFT music. Windows media player Winamp has informed users that they can play their NFT music from the platform.
The new desktop version of the media player, v5.9.1, has integrated support for NFT tokens in Ethereum's ERC-721 and ERC-1155 standards. Thus, alongside their traditional audio and video files, Winamp users have the possibility to play their audio NFTs.
Winamp CEO Alexandre Saboundjian explained that users of the media player can link their Metamask wallets using Brave, Chrome or Firefox web browsers to Winamp. Winamp users can also organize their libraries and playlists to incorporate NFT audio files, just as they would any other music file.
In a publicationWinamp reported that it currently has more than 83 million users worldwide.
Animoca Brands in the Pixelynx musical metaverse
📍The Sandbox developer has acquired a majority stake in the Pixelynx platform. According to Animoca Brands, it will build and invest in Pixelynx to power the future of the music industry through integration with gaming and Web3 technologies and communities.
Both companies will develop new formats for music consumption that can be scaled across the metaverse and unlock new revenue opportunities for creators and artists.
Pixelynx is a music gaming metaverse platform that was founded by musicians and technologists to give artists control over how they build new experiences and platforms centered on new technologies. Animoca detailed that music lovers are embracing new technologies to develop, share, and monetize music in ways never seen before.
According to Goldman Sachs, global music industry revenues could reach $131.000 billion by 2030.
Continue reading: Uniswap launches NFT aggregator compatible with X2Y2, OpenSea and 6 other markets
Main image from Pixabay
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