Beatport partners with Polkadot for new musical web3 marketplace
Image Credit: Beatport.io
Digital streaming and download platform, popular with DJs the world over, has announced a partnership with Polkadot to form Beatport.io.
More and more companies are taking steps towards crypto and NFT related ventures. Beatport has now teamed up blockchain network, Polkadot, to create a new web3 marketplace named Beatport.io. Launching yesterday (March 14th), the platform enables music fans to access a whole host of exciting perks.
The web3 marketplace has been developed in partnership with Define Creative and will be powered by the Polkadot blockchain. The launch of Beatport.io marks the first permanent space that the brand will have in the web3 arena, and it aims to provide artists, record labels, and music fans with the opportunity to benefit from web3. This all comes after Beatport’s first foray into NFTs and crypto in 2021. This was among a number of moves to progress onto a “new chapter” for the brand.
Beatport.io launches on Aventus
Beatport.io will be hosted on Aventus, a Polkadot parachain, and a web3 solutions provider for organizations. Labels, artists, and producers will be able to build and carry out selling activities of one-of-a-kind digital assets. This includes collectibles that give fans access to unreleased music, exclusive merchandise, discounted tickets, and other perks.
All this while simultaneously working on furthering connectivity with fans. Digital collectibles can play a vital role in fan engagement for artists and labels. Bonus features such as unreleased tracks, discounted tickets, and access to global events all contribute to deeper fan/artist connections.
Big news! Beatport and @Polkadot are excited to announce https://t.co/bIt7FfnPxs – a new space for electronic music in web3. 🎧🌎— Beatport (@beatport) March 13, 2023
Sign up to the waitlist now to be the first to access news and updates on https://t.co/bIt7FfnPxs.
🔗 https://t.co/207N7GDCxu pic.twitter.com/oGBJxrkWbf
According to Ed Hill, Senior Vice President of Beatport’s Media Group, it became necessary to get associated with Polkadot in order to make developments related to the electronic music arena. Polkadot is a leader in the blockchain space. Along with its open and interoperable ecosystem, the network will provide the opportunity for a smooth and convenient connection with Web3. As a result, the way fans interact with their chosen artists will be enhanced.
The CEO of Parity Technologies, Bjorn Wagner, a prime associate of the Polkadot network, feels that the music industry requires further backing from web3. Significant goals will now become achievable with this amalgamation.
According to the Founder and CEO of Aventus, Alan Vey, web3 has opened the doors for a much more advanced and effective way for artists to connect with their fans. Along with benefitting from the availability of various fresh content, fans will also be able to demonstrate their loyalty whilst being part of a strong community.
Web3 marketplace & more
In addition to the launch of this new web3 marketplace, Beatport and Polkadot will also be jointly organizing ten events. Beatport will be overseeing and producing all the upcoming events. These events are to be spread out over the next eighteen months. Each event will see the launching of a fresh new NFT collection. These collections will be made available through wallets that have Polkadot incorporated.
Beatport has been a huge name within the electronic music and DJ space for the past two decades. The platform has catalogues containing over 16 million tracks. Further to this, it is associated with more than 91,000 record labels.
The Web3 revolution has created incredible new avenues for artists to regain autonomy and engage their fans. There is immense opportunity in this market to provide fans access to a variety of new content streams. In turn, this opens up potential new revenue streams that can hugely benefit artists.
The partnership between Beatport and Polkadot is a significant step towards this goal, opening up a new world of possibilities for artists, labels, and producers.