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
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.