The collaboration between LimeWire and Universal Music Group has made headlines in the NFT sector.
Universal Music Group has announced This partnership with LimeWire signifies a significant emphasis from both companies on the creation and promotion of digital music NFTs.
LimeWire LimeWire operates as an NFT marketplace for digital collectibles and made a notable comeback in March 2022, aiming to establish itself as a go-to platform focused on music. Interestingly, Universal Music Group is a prominent player in the music industry, contrasting sharply with its earlier approach of taking legal action against LimeWire in its piracy days.
Universal Music Group plans to utilize LimeWire as its primary NFT marketplace. This collaboration is designed to foster direct communication between artists and their fans through unique digital music collectibles.
Universal Music Group is set to equip LimeWire with the necessary licenses that will enable access to their extensive roster of artists, allowing musicians to create music-centric NFT ventures and establish new revenue avenues.
Together, the aim of this alliance is to spearhead innovative and exciting music-related NFT projects, leveraging the capabilities of the LimeWire platform.
Universal Music Group has been actively broadening its presence within the Web3 space, making strides toward adapting to digital advancements. filed The company previously secured four trademarks linked to the Bored Apes Yacht Club, which have now been repurposed for the Kingship musical project initiated by the Web3 label '10:22 PM'.
In an exciting development, Universal Music Group entered into a partnership with Genies—an avatar company designed for the metaverse—back in December 2021.
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