UMG partners with Marc Gieger-backed Curio to offer NFTs for its artists
On Thursday, Dutch–American multinational music company Universal Music Group (UMG) announced that it is partnering with the NFT marketplace Curio.
UMG active in NFT world
As the major firms from every sector are entering the NFT world, UMG brings a "strategic collaboration" with the American music executive and entrepreneur Marc Gieger-backed Curio. Curio will serve as the exclusive global destination for all officially licensed NFT projects from UMG's record labels, operating companies, and recording artists around the world.UMG has made a number of recent NFT-related announcements, including a partnership with avatar tech company Genies to construct 'virtual identities' and NFTs for its artists.
Through this collaboration, the music company is aiming to "leverage Curio's groundbreaking technology, exclusive partnerships, and innovative fan engagement networks" to develop and release future NFT projects from its group of international artists and labels.
"Greater scalability and flexibility to issue authentic fan-orientated collectibles, carefully curated for each project" is what the UMG also is expecting from the collaboration.
Curio claims to have distributed more than 75,000 NFTs with entertainment brands spanning music, television, film, and graphic novels.
NFTs are becoming more mainstream
NFTs have been on a roll recently, with big names like McDonald's and TIME's launching their own collections. Moreover, this week saw multiple music artists entering the NFT world.UMG and Curio are already collaborating on their first wave of projects, with Capitol Music Group star Calum Scott set to release the debut issue in March.
American rapper Snoop Dogg has recently announced that it has decided to make Death Row the first NFT music label. He has sold around $45 million worth of NFTs within a week.
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