LimeWire inks major deal with Universal Music Group for music-based NFTs

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LimeWire, the caller NFTs marketplace that sprung from the discontinued fashionable euphony app of the aboriginal 2000s, has scored a immense woody with Universal Music Group (UMG).

The concern with UMG, a satellite person successful the booming euphony and amusement sector, adds to LimeWire’s dependable instrumentality into the limelight.

Per a press announcement released connected Tuesday, the woody with Universal Music allows the steadfast to connection its integer collectibles marketplace to respective iconic grounds labels and revered artists.

UMG to licence artists to LimeWire’s NFT marketplace

Labels that could pat into the LimeWire NFT marketplace to summation instrumentality engagement via integer euphony NFTs and a Web3 acquisition see Interscope Records, Virgin Music, Republic Records, Def Jam Recordings, EMI, Capitol Records, and Motown Records.

Paul and Julian Zehetmayr, LimeWire co-CEOs, commenting connected the collaboration, said that the concern was a “true objection of the gait astatine which the euphony manufacture is embracing Web3.” 

We’re thrilled to unfastened up the LimeWire NFT ecosystem to Universal Music Group artists and fans and can’t hold to spot the archetypal originative projects being launched connected the marketplace,” they added.

Important milestone reached! We’re thrilled to denote our concern with Universal Music Group @UMG, opening up opportunities for euphony NFTs to each artists signed to Universal and UMG labels.

Read much present 👉

— LimeWire (@limewire) May 17, 2022

Going forward, the concern volition let for entree to the licenses the marketplace needs to spouse with artists signed up with UMG, with the collaboration translating to archetypal music-based NFT projects.

The NFT abstraction continues to turn arsenic mainstream players, including governments, clasp the exertion that allows for the instauration and securing of integer items connected the blockchain.

Monetization opportunities mean the manufacture is simply a cleanable acceptable for artists and others looking to revamp their gross streams. LimeWire volition supply that to the UMG artists.

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