Warner buys into blockchain: Major music company joins $11m investment in Ethereum rival ‘Flow’
- Warner Music Group has joined an $11 million investment round in Vancouver-based Dapper Labs, the blockchain firm behind games such as NBA Top Shot and CryptoKitties.
- Speaking to Forbes , Jeff Bronikowski, Warner Music Group’s VP, Global Digital Business Development and Head of Innovation and Emerging Technology said that “the main goal [of the blockchain investment] is to create new avenues where the fans of our artists can explore their fandom and engage with the artists in new and different ways that they haven’t done before”.
- Bronikowski joined WMG in 2017 and was tasked with ‘forging business opportunities and strategic alliances that advance WMG’s Business Development strategy, with an emphasis on new technology and formats’.
- WMG has joined an impressive list of investors, including Andreessen Horowitz’s crypto fund, Accomplice, AppWorks, Autonomous Partners, Fenbushi Digital, as well as existing investors Union Square Ventures, Venrock, Digital Currency Group, Animoca Brands, SV Angel, Version One, and CoinFund, among others.
- Animoca Brands, a game developer and publisher that is currently developing a number of crypto games including F1 Delta Time and The Sandbox, will be one of the first game companies to build on Flow.
Read full article: musicbusinessworldwide.com