On Thursday an announcement was made by multinational music corporation Universal Music Group (UMG) about going into a partnership with Curio which is the non-fungible token (NFT) platform.

This partnership is started, following the UMG’s non-fungible token (NFT) metaverse music group project that features four Bored Ape Yacht Club (BAYC) NFTs.  As per the deal, Curio which launched in 2020, will provide the service of a dedicated global outlet for officially licensed NFT projects from UMG’s record labels, operating companies, and recording artists worldwide. Under this partnership, the first project is said to be launched this spring. It will be done with a Capitol Music Group artist and British singer-songwriter Calum Scott. As per the announcement done by UMG, Curio will be used to support “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.” To date, Curio issued more than 75,000 NFTs with partners in music, film, TV, and graphic novels.

Michael Nash, UMG’s executive vice president of the firm’s digital strategy unit confirmed that a major focus of UMG and their labels goes in developing NFT projects that authentically engage and speak to the fans of our artists as well as new audiences. The UMG executive said, “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,”

Nash further highlighted that the UMG team is focused on developing new opportunities in this space for their artists and labels that will position them at the forefront of the evolution of Web3.

System of a Down’s (SoaD) lead vocalist Serj Tankian is one recording artist that worked with Curio NFT. Recently, UMG signed an agreement with digital avatar maker Genies, which will provide its artists with official virtual identities and let them release exclusive wearable avatars. There are numerous recording artists under UMG, including Sting, Taylor Swift, Billie Eilish, Lil Wayne, Adele, Rihanna, Mariah Carey, Jay-Z, Coldplay, etc.

Indrani bose

CBW - External Analyst

INDIA