Music corporation UMG partnering with Curio for Future NFT Projects


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