The global deal will let artists signed to Universal Music Group and its myriad imprint labels release tokenized digital collectibles via the upcoming LimeWire marketplace. Universal’s imprints include the likes of Interscope Records, Def Jam Records, Motown Records, Geffen, Republic Records, EMI, Virgin Music, and others.
Collectively, the Universal Music Group lineup includes such massive artists as Taylor Swift, Kendrick Lamar, The Rolling Stones, U2, BTS, Chris Stapleton, The Weeknd, Abba, and Elton John. Today’s deal doesn’t necessarily mean that any of those artists will release NFTs via LimeWire, but they will apparently have the opportunity to do so.
LimeWire will be relaunched as an NFT marketplace that’s initially focused on music-related assets, whether it’s actual music or things like artwork and collectibles from musicians. Serial tech entrepreneurs Paul and Julian Zehetmayr acquired the dormant peer-to-peer music sharing service last year and announced their Web3 plans in March.