Warner Music to Build Token on New Blockchain by CryptoKitties Creator

  • Global media giant Warner Music Group will be creating digital assets using new public blockchain backed by CryptoKitties creator.
  • According to a Forbes report on Sept. 12, Warner Music has joined an $11.2 million investment in CryptoKitties creator Dapper Labs in order to collaborate on the deployment of the company’s new blockchain network called Flow as well as building tokens on top of it.
  • While Warner has reportedly invested less than $1 million in the form of a convertible security, other contributors included major industry investors such as Andreessen Horowitz, Digital Currency Group, Union Square Ventures and Venrock, the report notes.
  • Jeff Bronikowski, senior vice president of business development at Warner Music, reportedly stated that Dapper Labs’ CryptoKitties technology could be used to create unique and tradable merchandise featuring its superstar talent in case if the transaction volume issues can be solved.

Read full article: cointelegraph.com