Beatport struck a partnership with blockchain Polkadot with the goal of creating an NFT marketplace exclusively for electronic music to link artists with fans around the world.
Beatportis an electronic music platform for DJs, producers and fans from all over the world. Currently, they announced the launch of their new project called ‘Beatport.io‘ which will be developed through blockchain technology thanks to the alliance they made with Polkadot, one of the most known blockchains in the ecosystem.
The goal is to open a new marketplace to bring electronic music to the Web3 through non fungible tokens (NFTs) and also, provide fans with different access to new exclusive collectibles with interactive experiences with artists and labels.
The partnership between Beatport and Polkadotwill give the possibility to create an exclusive electronic music marketplace by one of the most well-known platforms in the industry and one of the most popular next generation blockchains in the Web3 ecosystem.
In addition to Polkadot, Beatport has struck another deal for the development and design of the platform, which is Define Creative.
Also, from its official Twitter account, Beatport announced that the new ‘Beatport.io’ platform will be launched in Aventus Networka provider of Web3 solutions for enterprises and parachain in the Polkadot ecosystem.
The new Web3 marketplace for electronic music in the format of NFTs from Beatport is the first action of one of the world’s best-known platforms in the industry. This project will allow artists, producers and record labels to open up new profitable avenues and at the same time, provide other services to music fans, since, with NFTs, users will deepen their connection with their favorite artists and DJs.
Digital collectibles will also, in some cases, serve as a fan engagement tool, meaning that artists and labels will be able to add even more value to NFTs by providing early access to additional features, unlockable unreleased tracks, discounted tickets and access to VIP areas at events around the world, among many other things.
Main image of Beatport’s new platform – Source: beatport.io
On the other hand, NFTs were confirmed to be distributed through Aventus, as I mentioned earlier. This company is a Polkadot-based blockchain that helps different established companies to offer new Web3 use cases, as, it offers a wide range of products such as NFTs, games and more.
Beatport and Polkadot have not only teamed up to launch Beatport.iobut will also collaborate together on ten major events over the next 18 months. Each event will be a celebration of a new NFT music collection through Polkadot’s integrated wallets. The events will be produced by Beatport and will run alongside other major music and Web3 events.
Currently, Beatport has more than 450,000 active DJs on the platform since 2019 and has around 45 million annual visits since 2022. Undoubtedly, this platform is one of the most important for DJs and new (or already established) producers to publish their music.
It is also considered the site with the largest catalog of downloadable electronic music and the marketplace where DJs search and find tracks to create their presentations.
Finally, this new NFT marketplace to be launched by Beatport together with Polkadot will be of great help for the adoption of music in non-fungible token format and at the same time, it will help more artists to be recognized in the environment and get many more fans and any kind of audience in general.
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Written by Rodrigo Catalan (TW: @RodrigoCatalanB) for NFT Express.