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LimeWire, the brand new NFTs market that sprung from the discontinued common music app of the early 2000s, has scored an enormous deal with Universal Music Group (UMG).
The partnership with UMG, a world chief within the booming music and leisure sector, provides to LimeWire’s regular return into the limelight.
Per a press announcement released on Tuesday, the deal with Universal Music permits the agency to supply its digital collectibles market to a number of iconic document labels and revered artists.
UMG to license artists to LimeWire’s NFT market
Labels that would faucet into the LimeWire NFT market to extend fan engagement by way of digital music NFTs and a Web3 expertise embody Interscope Records, Virgin Music, Republic Records, Def Jam Recordings, EMI, Capitol Records, and Motown Records.
Paul and Julian Zehetmayr, LimeWire co-CEOs, commenting on the collaboration, stated that the partnership was a “true demonstration of the pace at which the music industry is embracing Web3.”
“We’re thrilled to open up the LimeWire NFT ecosystem to Universal Music Group artists and fans and can’t wait to see the first creative projects being launched on the marketplace,” they added.
Important milestone reached! We’re thrilled to announce our partnership with Universal Music Group @UMG, opening up alternatives for music NFTs to all artists signed to Universal and UMG labels.
Read extra right here 👉 https://t.co/VHolELPC1e pic.twitter.com/JfE3IfMEQ0
— LimeWire (@limewire) May 17, 2022
Going ahead, the partnership will enable for entry to the licenses {the marketplace} must accomplice with artists signed up with UMG, with the collaboration translating to unique music-based NFT initiatives.
The NFT area continues to develop as mainstream gamers, together with governments, embrace the expertise that permits for the creation and securing of digital objects on the blockchain.
Monetization alternatives imply the trade is an ideal match for artists and others trying to revamp their income streams. LimeWire will present that to the UMG artists.
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