The NFT train keeps rolling: Universal Music Group is the first major music company to sign a partnership with Curio, a non-fungible token platform focused on entertainment brands.
Under the agreement, Curio will serve as a dedicated global outlet for future officially licensed NFT projects from UMG’s record labels, operating companies and artists worldwide. The first project under the partnership will be with British singer-songwriter Calum Scott, a Capitol Music Group artist, slated to launch this spring.
NFTs offer a way to verify ownership of digital content, and entertainment companies have flocked to this technology to monetize their intellectual property and build fan loyalty.
Separately, UMG recently entered into an agreement with digital avatar company Genies, which will provide the music company’s artists with official virtual identities and allow them to release exclusive avatar apparel as NFTs for fans.
Curio first launched in 2020 and dropped its first NFTs in February 2021. Since then, Curio has released over 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, previously worked at Universal Music Group in the early 2000s. Veteran music director Dan Dymtrow is now head of global NFT partnerships for Curio’s music and influencers, while Marc Geiger, former global head of music at William Morris Endeavour, is Curio’s investor and advisor.
“UMG and our labels are focused on developing NFT projects that engage and speak authentically to our artists’ fans and new audiences,” said Michael Nash, UMG’s executive vice president of digital strategy, during the presentation. announcement of the agreement. “With Curio, our labels will have a secure and dedicated platform to host these premium projects and provide new opportunities for collectors and fans around the world to acquire unique pieces, inspired by their favorite artists and labels.”
Arnon de Curio commented: “UMG has an extensive catalog with unlimited possibilities to deliver value to fans around the world. Their brands and labels are historic and emblematic. And the digital innovation and Web3 expertise of their leaders is unparalleled.