Todd Spangler NY Digital EditorThe NFT train keeps steaming along: Universal Music Group is the first major music company to ink a partnership with Curio, a nonfungible token platform focused on entertainment brands.Under the deal, Curio will serve as a dedicated global outlet for future officially licensed NFT projects from UMG’s record labels, operating companies and recording artists worldwide.
The first project under the partnership will be with British singer-songwriter Calum Scott, a Capitol Music Group artist, which is slated to launch this spring.NFTs provide a way to verify ownership of a piece of digital content, and entertainment companies have flocked to the technology as a way to monetize their intellectual property and boost fan loyalty.
Separately, UMG recently stuck a deal with digital avatar company Genies, which will provide the music company’s artists with official virtual identities as well as let them release exclusive avatar wearables as NFTs for fans.Curio first launched in 2020 and dropped its first NFTs in February 2021.
Since then, Curio has released more than 75,000 NFTs with partners in music, film, TV and graphic novels.Curio co-founder and co-CEO Ben Arnon, a tech and media veteran, once worked at Universal Music Group in the early 2000s.
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