Curio, the leading Non-Fungible Token (NFT) platform, and Universal Music Group (UMG) announced today that Curio will be the exclusive global outlet for future legally licensed NFT products from UMG’s record labels, operational companies, and recording artists. The arrangement is a huge step forward for the world’s largest music company, which, like its competitors, relies heavily on streaming music to stay afloat financially.
A strategic collaboration
With the arrangement, UMG becomes the first significant music organization to license artwork, audio recordings, and audio-visual content for Curio, a fan-first one-stop-shop for producing, minting, marketing, and the sale and re-sale of premium NFTs.
UMG will be able to use Curio’s groundbreaking technology, exclusive partnerships, and innovative fan engagement networks to create and launch future NFT projects from its unrivaled roster of global artists and labels Allowing for greater scalability and flexibility in issuing authentic fan-oriented collectibles, carefully curated for each project, as part of the strategic collaboration, UMG posted on their website.
According to The International News, the agreement represents a significant step forward for the world’s largest music corporation, which, like its competitors, relies mainly on streaming music to stay afloat. Curio, which was founded in 2020 and issued its first NFT in February, has reached a tipping point. Working with music, film, and television industry partners, the firm has since published over 75,000 digital artifacts.
The UMG has been experimenting with methods to cash in on the growing popularity of digital collectibles, even forming a singing group, Kingship, composed exclusively of simian characters from the NFT brand Bored Ape Yacht Club. Hollywood celebrities and other collectors have become enamored with the animated apes, which exist as one-of-a-kind things on the digital blockchain.
Universal discovered a well-versed executive in Curio’s co-founder and co-Chief Executive Officer Ben Arnon, who previously worked for Universal Music Group. One of Curio’s consultants, Marc Geiger was the former head of music at William Morris Endeavor.