A sign that labels are now taking non-fungible tokens (NFTs) very seriously? Universal Music Group has announced a partnership with the Curio platform, to offer NFTs to fans.
The giant Universal gets into NFTs
The label Universal Music Group (UMG) weighs particularly heavy in the music world. It is the label that signs very important artists, such as Lady Gaga, Kanye West, Sting or BTS. So his arrival in the NFT sector will be particularly observed.
The move is based on a partnership with the NFTs buying and selling platform Curio, as announced in a Universal press release. The marketplace is relatively new, having offered its first non-fungible tokens for sale in February 2021. It’s also relatively confidential at the moment.
Part of the reason Universal chose this NFTs platform is likely because Curio’s co-founder, Ben Arnon, previously worked at Universal Music Group. There’s already a connection to the music business: a collection by Serj Tankian, the lead singer of System of a Down, is currently available for sale there.
Offer exclusive content to fans
Music artists were among the first to start using NFTs, so the arrival of major labels in the sector is the logical continuation. Already, we’ve noted Warner Music’s interest in the metaverse, thanks to a partnership with The Sandbox.
Universal Music Group’s vice president of digital strategy, Michael Nash, says it’s a new way to connect artists to fans:
“UMG and our labels are focused on developing NFTs projects that authentically engage [our artists’] fans as well as a new audience.”
Ben Arnon further points to the breadth of musicians represented by Universal, which provides wide-ranging opportunities for NFTs collections:
“UMG has a huge catalog, with unlimited opportunities to bring value to fans around the world. Their brand and labels are historic and iconic.”
The first wave of Universal NFTs is expected to arrive in March, with a collection based on the work of singer Calum Scott. Others will follow in the coming months.