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.
Curio Platform Will Be Universal Music Group’s Dedicated Global Outlet for NFTs
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. Curio NFT Marketplace was launched in 2020. It has already issued over 75,000 NFTs.
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 has been a prominent company with roots dating 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 is home to many recording artists around the world, such as Taylor Swift and Billie Eilish, Adele, Rihanna and Mariah Carey, Jay-Z and Coldplay. 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 in creating opportunities that put our labels and artists at the forefront of this industry. They also work to ensure Web3’s evolution provides new creative avenues.
Curio’s Co-Founder Says UMG’s Huge Catalog Has ‘Unlimited Opportunity to Deliver Value to Fans Across the Globe’
UMG has been following many of the well-known brands in this space. The NFT ecosystem is now a $1 billion industry. NFT industry participants include Coca-Cola (Pepsi-Cola), Budweiser and Adidas.
One recording artist that has already worked with Curio NFT is System of a Down’s (SoaD) lead vocalist, Serj Tankian. Bitcoin.com News talked to Tankian about the NFT collection and how he worked with Curio in 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.
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