13 March, 2023 – London: Beatport, the global leader in electronic music for DJs, producers, and their fans, is joining forces with Polkadot, the next-generation blockchain network powering the movement for a better web, to launch Beatport.io, a digital collectible marketplace bringing the next generation of electronic music to Web3. Beatport.io will launch on Aventus, a Web3 solutions provider for enterprises and parachain in the Polkadot ecosystem.
Marking Beatport’s first permanent home in the Web3 space, this project will enable record labels and artists to create and sell NFTs while generating greater fan engagement. It will allow artists, producers, and record labels to enjoy the benefits of Web3, while also giving music fans an opportunity to explore the value of NFTs and deepen their connection to their favorite artists and DJs.
Ed Hill, SVP of Beatport’s Media Group, said: “The electronic music community has always been at the forefront of cultural shifts and their early embrace of Web3 and all the promise it offers is no different. To usher in a new era for the electronic music space, we felt it was important to join forces with a trusted, long-time leader in the blockchain space. Polkadot’s open and interoperable ecosystem enables us to seamlessly tap into Web3 and celebrate electronic music by connecting fans with their favorite artists in unique and powerful new ways.”
Björn Wagner, CEO of Parity Technologies, the company building the framework for Polkadot, said: “Many in the music industry are keen to discover ways in which Web3 can better support them. This initiative with Beatport and Aventus is a perfect example of the potential for Web3 to elevate the craft of artists. We’re excited to see this application of Polkadot’s technology to better connect artists directly with their fans and reignite the collectible aspect of music fandom that has largely been lost in the age of digital media.”
Developed and designed in partnership with Define Creative, these digital collectibles will also in some cases become a fan engagement tool for artists and labels by providing early access to bonus features such as unreleased tracks, discounted tickets, and access to VIP areas at global events. On a technical level, the NFTs will be distributed via Aventus, a blockchain built on Polkadot that helps established enterprises deliver Web3 use cases from their wide suite of modular and composable products.
Alan Vey, Founder & CEO of Aventus, the Polkadot parachain on which the NFT marketplace will be built, added: “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, creating communities with loyalty unlike anything we’ve seen before, and for the artists to reap the majority of the return. We’re thrilled to be a part of this important endeavor for the music industry.”
In addition to launching Beatport.io, Beatport and Polkadot will also collaborate on 10 major events over the next 18 months. Each event will celebrate the launch of a new NFT collection accessible via Polkadot-integrated wallets. The events will be produced by Beatport and will take place alongside major music and Web3 events.