Universal will be launching its NFT projects from its record labels, recording artists, and operating companies.
Universal Music Group and Curio are working on an NFT drop for March 2022
Photo Credit: Facebook/ Universal Music Group
Universal Music Group (UMG) has decided to take the big NFT plunge with a partnership with Curio, the premier non-fungible token (NFT) platform for entertainment brands and music artists. Under the new deal, Curio will become the global outlet for future officially licensed NFT projects from UMG's record labels, operating companies, and recording artists worldwide. The collaboration will allow UMG greater scalability and flexibility in producing authentic fan-oriented collectibles that are carefully curated for each project.
With the agreement, UMG, which has signed the likes of singer-songwriter Taylor Swift, has become the first major music company to collaborate with Curio. Both parties have already begun work to release the first NFT issue in March 2022, featuring Capitol Music Group artist Calum Scott, with more details to be revealed in the coming weeks.
Curio first launched in 2020 and dropped its first NFTs in February 2021. Since launch, the company has released over 75,000 NFTs with leading entertainment brands across music, film, television, and graphic novels.
“UMG and our labels are focused on developing NFT projects that authentically engage and speak to our artists' fanbases and new audiences. 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 favourite artists and labels,” Michael Nash, Universal Music Group's Executive Vice President, Digital Strategy said in a press release.
"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,” Nash added.
Meanwhile, Ben Arnon, Curio's Co-Founder and Co-CEO, who previously worked at Universal Music, said, "Curio is thrilled to be partnered with UMG in the NFT and Web3 space. UMG has a huge catalogue with unlimited opportunity to deliver value to fans across the globe. Their brands and labels are historic and iconic. And the digital innovation and Web3 expertise amongst their executives is unparalleled."
Universal Music Group (UMG) has been experimenting with digital collectibles for a while. In its attempt to capitalise the world of NFTs, UMG previously formed a music group featuring characters from popular NFT project Bored Ape Yacht Club (BAYC).
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