Web3 is embracing the culture of electronic music. Polkadot, a well-known blockchain platform, teams up with Beatport, the largest retailer of electronic music, to launch “Beatport.io,” a marketplace for digital valuables.
The announcement states, “Marking Beatport’s first permanent home in the Web3 space, this platform will enable record labels and artists to create and sell unique digital assets while generating greater fan engagement.”
The platform will make its debut on Aventus, a parachain in the Polkadot ecosystem and a supplier of Web3 solutions for companies.
In addition to the debut of Beatport.io, Beatport and Polkadot will collaborate on 10 events over the next 18 months.
A brand-new NFT line that is accessible via Polkadot-integrated wallets will make its premiere at each event. Beatport will stage the events, which will also overlap with important music and Web3 events.
Beatport.io will make it possible for musicians, DJs, and record companies to profit from Web3 while educating music fans about the value of digital collectibles and fostering stronger bonds with their favorite performers and DJs.
These digital artifacts may sometimes function as platforms for fan engagement by granting artists and labels early access to supplementary features like unheard music, affordable tickets, and access to international events and interactive experiences.
Ed Hill, SVP of Beatport’s Media Group, stated: “Polkadot’s open and interoperable ecosystem enables us to seamlessly tap into Web3 and celebrate electronic music by connecting fans with their favorite artists in unique and powerful new ways.”
Alan Vey, Founder & CEO of Aventus, noted: “There is immense opportunity in this market to provide fans access to various new content streams, creating communities with loyalty unlike anything we’ve seen before, and for the artists to reap the majority of the return. We’re thrilled to be a part of this important endeavor for the music industry.”
Compiled by Coinbold