Polygon Labs and Warner Music Group (WMG) have revealed the names of the first two selected projects to be funded through their Web3 Music Accelerator program.
The Web3 Music Accelerator program, a joint initiative of Polygon Labs, creator of Polygon Network, and Warner Music Group (WMG), one of the leading companies in the global music industry, presented the first two musical projects that will receive funding and technical advice to develop their blockchain-based proposals.
According to the announcement, the two projects chosen were MITHI, an innovative tool that uses blockchain and other technologies to help artists connect with their fans to get to know them better, and Muus Collective, an entertainment studio dedicated to creating trendy, community-based experiences, including mobile games and digital collectibles.
Through the Web3 Music Accelerator, Warner and Polygon aim to drive innovation and creativity in digital music using emerging, decentralized Web3 technologies such as blockchain.
Accelerating Web3 evolution in the music
Brian Trunzo, head of business development for North America at Polygon Labs, said the company is “excited” to contribute to the music and entertainment sector by integrating decentralized blockchain innovation. Through its Web3 program, the blockchain network’s developers seek to facilitate access to blockchain technology and the potential tools built on it, in order to “drive the next generation of innovation at the intersection of Web3 and music.”
What is the MITH project?
MITH is an innovative project that helps artists connect with their fans and get to know them better. This platform offers data and insights into fan behavior and preferences, allowing artists to create a more personalized and direct relationship with them.
This project aims to revolutionize the way artists interact with their fans, offering them tools to get to know them better and reward their loyalty.
By using artificial intelligence, MITH analyzes fans’ first-party data and provides artists with a comprehensive view of their preferences and behaviors. Additionally, the project uses blockchain technology to create a decentralized and transparent environment, where artists can communicate directly with their fans and offer them incentives such as musical NFTs, which can be used to certify ownership of a musical work.
What is Muus Collective?
The second project to be funded by the Web3 Music Accelerator program, Muus Collective is an entertainment studio dedicated to creating trendy, community-based experiences, including mobile games and digital collectibles, and is planning to launch its first Web3-enabled mobile game next year, allowing players to explore, create and earn rewards within the platform.
This project also makes use of blockchain technology to create a decentralized and transparent ecosystem for the fashion industry, so that users can interact directly with creators and reward them for their support. The platform also offers the opportunity to create and trade NFT tokens.
The intersection of music, fashion and Web3
Muus Collective, together with MITH, are initiatives that drive Web3 innovation in global industries such as fashion, music and entertainment.
Through the Web3 Music Accelerator, both Polygon Network and Warner Music Group seek to offer innovative and sustainable solutions for creators and consumers in these industries, accelerating the intersection between emerging technologies and the traditional world.
Web3 Music Accelerator is he presented last year as an initiative to help creators and artists develop and monetize projects that reimagine the experiences of the music and fashion industries, in the new era of creation, through the Polygon network.
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