Quick take:
- Fans of the company’s artists can buy officially licensed NFTs on Curio.
- The first NFT collection will drop in March.
- Universal Music Group has previously formed an NFT band made up of Bored Apes Yacht Club characters.
Universal Music Group has just announced today a partnership with NFT platform for entertainment brands and music artists, Curio, to develop NFTs for the music company’s record labels and artists.
This move follows the likes of its competitor Warner Music Group into the NFT space, and could potentially open up a new revenue stream for the company, which has traditionally depended on record sales and streaming to make money.
Besides helping Universal Music Group develop NFTs for its roster of global artists and labels, Curio will also serve as a marketplace where fans can purchase officially licensed NFT collections of their favourite artists.
Universal Music Group will also be able to leverage Curio’s exclusive partnerships and fan engagement networks, as well as NFT marketing expertise to scale authentic collectibles curated for each project.
The first NFT drop in this partnership will kick off in March, starting with Capitol Music Group – an umbrella label owned by Universal Music Group – and British singer-songwriter Callum Scott.
Launched in 2020, Curio dropped its first NFTs in February 2021. The platform has since released 75,000 NFTs entertainment brands across music, film, television, and graphic novels, including collections inspired by the movie American Psycho, and Neil Gaiman’s novel ‘American Gods.’
Curio’s core team has significant music industry experience. Its co-founder and co-CEO has previously worked at Universal Music Group while veteran music manager, Dan Dymtrow, serves as Curio’s Head of Music & Influencer NFT Global Partnerships. Marc Geiger, former Global Head of Music at William Morris Endeavor, serves as an investor and advisor to Curio.
“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 favorite artists and labels,” said Michael Nash, Universal Music Group’s Executive Vice President, Digital Strategy.
Universal Music Group has been exploring new opportunities in the NFT space. In November, the company’s next-gen label 10:22PM formed the NFT band, Kingship, made up of one Mutant Ape and three Bored Apes.
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