Universal Music Group doubles its NFTs for musicians

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Universal Music Group doubles its NFTs for musicians

Partnership will provide all Universal Music Group artists with access to LimeWire collectibles marketplace

By Shashank Bhardwaj


Image: Shutterstock

Universal Music Group, the world’s largest music label, has partnered with LimeWire, a music digital collectibles marketplace and NFT licensing platform, to help artists promote their music using NFTs. Based in the Netherlands, the label giant is home to more than a hundred renowned music labels, brands and musicians.


According to Universal Music Group, the collaboration would allow artists signed with Universal Music Group and its many imprint labels to launch tokenized virtual collectibles through the soon-to-be-launched LimeWire Marketplace. Artists affiliated with the group of music labels will also be able to sell audio and audiovisual content, artwork, bonus tracks, behind-the-scenes footage and other content as NFTs in the marketplace.

In a statement announcing the partnership with LimeWire, Universal Music said, “Using LimeWire, artists signed with UMG can now offer audio recordings, AV content, behind-the-scenes footage, and all artwork and imagery as than NFT on the LimeWire marketplace and sell them directly to fans and collectors. Musicians can release bonus tracks and exclusive material, sell uncut or behind-the-scenes content, and much more.

Holger Christoph, Universal Music Group’s Senior Vice President of Digital Affairs for Central Europe, said, “Universal Music Group and our labels are fully embracing the exciting Web3 space and will be working with our new partner LimeWire, our artists and their communities on engaging NFT projects with real utility and creating engaging experiences for fans, while enabling mainstream consumers to participate in a safe and trusted environment with low barriers to entry.
The collaboration, according to LimeWire CEOs Paul and Julian Zehetmayr, has proven the rapid adoption of Web3 technology by the music industry. The company will not only provide technology and market integration, but will also handle credit card payments, gas charges, and technical issues associated with customers’ use of NFTs.
The writer is the founder of yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash

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