Now that Warner Music Group has mastered streaming, generating $2 billion in revenue from the technology, the music giant behind Cardi B, Ed Sheeran and Bruno Mars has set its sights on blockchain, joining an $11.2 million investment in Dapper Labs, best known for making the viral blockchain game, CryptoKitties.
In December 2017, CryptoKitties, which lets users combine (breed, as they call it) unique digital representations of kittens and trade them, almost broke ethereum when it single-handedly caused transactions on the public ethereum blockchain to explode overnight. If the transaction volume issues can be solved, according to Warner Music senior vice president of business development Jeff Bronikowski, the CryptoKitties technology, which is similar to bitcoin but for other digital assets, could be adapted to create unique, tradable merchandise featuring the company’s roster of superstar talent.
So as part of the investment from Andreessen Horowitz, Digital Currency Group, Union Square Ventures, Venrock and others, Bronikowski says Warner Music’s blockchain team will work with Dapper Labs to create digital assets using a new public blockchain revealed today, called Flow, that is capable of handling transaction volumes many times more than ethereum, even while expanding on a number of the company’s other blockchain projects.
For more details about the project read the Full article from FORBES https://www.forbes.com/sites/michaeldelcastillo/2019/09/12/exclusive-from-cryptokitties-to-cardi-b-warner-music-joins-11-million-investment-in-ethereum-replacement/#56c62382b21f
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