The Warner Music Group has been eyeing Polygon for some time now and is set to develop the first-of-its-kind music platform on the blockchain. LGND Music will be launched in January 2023.
The platform, formed in partnership with LGND.io which is an e-commerce and interactive platform builder, will have an edge through Polygon for its blockchain needs. The project will be accompanied by a partnership with Spinnin Records, a Warner Music Group label. LGND Music will emerge as an NFT and digital collectible platform. It will support digital collectibles from any blockchain in a proprietary player.
The Warner Music Group took to Polygon to ensure a seamless experience for users. It said the platform will be built on Polygon. Users will have the advantage of lower gas fees and faster transactions in an open, permissionless and sustainable environment. Warner Music Group’s decision to launch a platform on Polygon blockchain comes at a time when NFTs are suffering, with sales dropping to a 17-month low.
Moreover, Warner Music Group’s new platform will surely send the MATIC price up. At the time of writing this article, Polygon MATIC was down by 0.60% in the last 24 hours and trading at $0.911. The altcoin can record gains if bullish pressure rises. Polygon network’s native token could make a run for $0.9743. If it manages to breach this level, MATIC will surely be on the path for recovery. But if there is a decline, MATIC could grace the lows of $0.8817.