Electronic music brand, Beatport, has partnered with Polkadot to launch the brand new music NFT marketplace, Beatport·io. Through the platform, it will allow artists, producers, and labels to sell NFTs, including exclusive content such as unreleased music, discounted tickets, and other perks to fans. The launch of Beatport·io marks a significant development for Beatport, as it represents its first permanent home in the Web3 space.
Beatport and @Polkadot are teaming up to create a new home for electronic music in the Web3 space.
— Beatport (@beatport) March 13, 2023
To commemorate the launch, Beatport and Polkadot are working on 10 events over the next 18 months, each featuring a new collection of NFTs dropping on Beatport·io, timed alongside existing music and Web3 events. This will provide fans with a constant stream of exclusive music-related NFTs in the coming months.
In addition, Beatport·io was created in collaboration with Define Creative and will launch on Aventus, a Web3 parachain within the Polkadot ecosystem. This partnership marks another significant step for Beatport in the Web3 space, allowing record labels and artists to create and sell unique digital assets in order to promote greater engagement with fans.
Beatport in the NFT Music Industry
With the backing of Polkadot, Beatport is poised to make a significant impact in the NFT market and serve as a strategic move for Polkadot to expand its presence in the music industry, which has seen significant growth in the adoption of NFTs.
Björn Wagner, CEO of Parity Technologies, a leading contributor to the Polkadot network, said: “Many in the music industry are keen to discover ways in which Web3 can better support them. This initiative with Beatport and Aventus is a perfect example of the potential for Web3 to elevate artists’ craft. We’re excited to see this application of Polkadot’s technology to better connect artists directly with their fans and reignite the collectible aspect of music fandom that has largely been lost in the age of digital media.”
The launch of Beatport·io aligns with the trend of companies exploring the potential of web3 and blockchain technology, and the music industry has been experimenting with NFTs, with major artists like Grimes, Deadmau5, and Kings of Leon already selling NFTs to their fans. The collaboration between Beatport and Polkadot is another step towards the mainstream adoption of NFTs in the music industry.
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