Universal Music Group (UMG) announced on Thursday that it is joining forces with the non-fungible token (NFT) platform Curio. In the future, UMG says Curio will be a “dedicated international outlet for officially licensed NFT projects” for its label partners and recording artists.
The Curio Will Be The Dedicated Global Storefront For UMG’s NFTs
Announcing a new partnership with Curio NFT, the music-based entertainment company UMG added four non-fungible tokens (NFTs) to its metaverse music group project. Curio, the NFT marketplace platform, launched in 2020 and has issued more than 75,000 NFTs.
In UMG’s announcement, they outline Curio’s use as a platform to facilitate “future NFT projects from their unrivaled roster of global artists and labels, allowing them to issue authentic fan-oriented collectibles carefully curated for each project”.
Universal Music Group is a well-known group with roots in the music industry dating back to 1934. The parent company of UMG was renamed Universal Studios, Inc. in 1996, and the music division was renamed Universal Music Group.
Among the recording artists signed to UMG are Sting, Taylor Swift, Billie Eilish, Lil Wayne, Adele, Rihanna, Mariah Carey, Jay-Z, Coldplay, among many others.
Among UMG’s focus areas is developing NFT projects that connect with and speak to its artists’ fanbases and new audiences, Nash said in a statement.
UMG’s executive said, “With Curio, our labels will have a secure platform to host these premium projects and provide new opportunities for collectors and fans around the world to collect exclusive pieces, inspired by their favorite artists and labels.”
Web3, which is on the radar for UMG and Nash, stated: UMG is focused on defining new opportunities in this space for our artists and labels, ensuring that the evolution of Web3 provides exciting new avenues for their creativity.
“UMG’s huge catalog offers countless opportunities to bring value to fans around the world,” Curio’s co-founder
In recent years, the non-fungible token (NFT) space has become a billion-dollar industry very quickly, and UMG is one of many well-known brands that have entered this space.
Participating companies in the NFT industry include Coca-Cola, Pepsi-Cola, Budweiser, Adidas, Arizona Iced Tea, Rolling Stone, Topps, MLB, Nike, Gannett News, Coachella Festival, Konami, Ubisoft, and others.
Serj Tankian, the lead vocalist of System of a Down (SoaD), has already worked with Curio NFT on his exhibition. Bitcoin.com News spoke with Tankian about his NFT collection and his exhibition at Curio.
During the announcement, Curio co-founder Ben Arnon also revealed the firm’s interest in working with UMG “in the NFT and Web3 space”. “UMG has a huge catalog with unlimited potential to deliver value to fans,” Arnon said.
