Exclusive: From CryptoKitties to Cardi B: Warner Music Joins $11 Million Investment In Ethereum Replacement

Exclusive: From CryptoKitties to Cardi B: Warner Music Joins $11 Million Investment In Ethereum Replacement

 

Dapper Labs just signed a deal with the parent company of Cardi B’s label, Warner Music, to offer fans unique digital assets on a new blockchain. Now that Warner Music Group has mastered streaming, generating $2 billion in revenue from the technology, the music giant behind Cardi B, Ed Sheerhan 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. 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 its roster of superstar talent if the transaction volume issues can be solved.

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 other blockchain projects.

At stake is more than just the success of Dapper Labs itself, but the pole position in a rapidly escalating competition to build economies that blur […]