18 February 2022
The multinational music corporation Universal Music Group (UMG) announced the company has partnered with the non-fungible token (NFT) platform Curio on Thursday. UMG says Curio will be a “dedicated global outlet for future officially licensed NFT projects” for the company’s labels and recording artists worldwide.
Following the UMG’s non-fungible token (NFT) metaverse music group project featuring four Bored Ape Yacht Club (BAYC) NFTs, the music-based entertainment company has revealed a new partnership with the NFT company Curio NFT. The NFT marketplace platform Curio launched in 2020 and has issued more than 75,000 NFTs to date.
According to UMG’s announcement, Curio will be used to bolster “future NFT projects from its unrivaled roster of global artists and labels, providing greater scalability and flexibility to issue authentic fan-orientated collectibles, carefully curated for each project.”
Universal Music Group is a well known firm with roots in music stretching all the way back to 1934. In 1996, UMG’s parent company officially became known as Universal Studios, Inc., and the music division of the multinational corporation was dubbed: Universal Music Group.
UMG has a wide array of recording artists worldwide including Sting, Taylor Swift, Billie Eilish, Lil Wayne, Adele, Rihanna, Mariah Carey, Jay-Z, Coldplay, and more. Michael Nash, UMG’s executive vice president of the firm’s digital strategy unit said that NFTs are a great way to interact with a recording artist’s fans.
“UMG and our labels are focused on developing NFT projects that authentically engage and speak to our artists’ fanbases and new audiences,” Nash said in a statement. “With Curio, our labels will have a secure and dedicated platform to host these premium projects and provide new opportunities for collectors and fans from around the world to acquire unique pieces, inspired by their favorite artists and labels,” the UMG executive added.
Nash further noted that Web3 is on UMG’s radar and stated:
UMG is focused on developing new opportunities in this space that place our artists and labels at the forefront, working to ensure that the evolution of Web3 provides exciting new avenues for their creativity.
The non-fungible token (NFT) ecosystem has become a billion-dollar industry very quickly and UMG follows many well known brands that have entered the space. The list of NFT industry participants includes firms such as Coca-Cola, Pepsi-Cola, Budweiser, Adidas, Arizona Iced Tea, Rolling Stone, Topps, Major League Baseball (MLB), Nike, Gannett News, Coachella Festival, Konami, Ubisoft, and more.
One recording artist that has already worked with Curio NFT is System of a Down’s (SoaD) lead vocalist, Serj Tankian. Bitcoin.com News spoke with Tankian about his NFT collection and working with Curio on his exhibition.
In regard to the partnership with UMG, Curio’s co-founder Ben Arnon said the firm looks forward to working with UMG “in the NFT and Web3 space.” “UMG has a huge catalog with unlimited opportunity to deliver value to fans across the globe,” Arnon remarked during the announcement.
What do you think about Universal Music Group partnering with Curio NFT? Let us know what you think about this subject in the comments section below.
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