The company Warner Music Group will create digital assets using the public blockchain and is supported by creators of Dapper Labs. need to know the CryptoKitties blockchain game created by Dapper Labs.
The Warner Music collaboration with Dapper Labs has generated an investment of $ 11.2 million, the collaboration aims to create a payment network and create its own token on the Dapper Labs blockchain called Flow.
Meanwhile, Warner is reported to have invested less than $ 1 million in conversion security, other contributors including major industry investors such as Andreessen Horowitz, Digital Currency Group, Union Square Ventures, and Venrock, the report notes.
Warner Music's vice president, Jeff Bronikowski, stated that CryptoKitties technology from Dapper Labs can be used to create unique and tradable merchandise that showcase superstar talent if the problem of transaction volume can be resolved.
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Bronikowski said: "The ultimate goal is to create a new path where our artist fans can explore their fandom and engage with artists in new and different ways that they have never done before."
The point is Bronikowski implies that the investment is intended to open up new methods for sharing Warner Music content and new types of engagement with artists.
The initial step of the collaboration will be used to complete the Blockchain Flow and, make an application on it and accredited investors will get a portion of the company's shares.
In addition, Warner Music is looking for new methods so that cryptocurrency can be used to tip artists and test the blockchain in order to connect musicians with fans without intermediaries.
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