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Recently, LimeWire signed an agreement with Universal Music Group (UMG) – a record label that cooperates with a series of famous stars: Taylor Swift, Kendrick Lamar, The Rolling Stones, U2, BTS,…
What can fans do with LimeWire?
Yesterday (May 17) Digital music platform LimeWire announced its first major music label partnership with Universal Music Group (UMG).
As part of this partnership, UMG will provide a license allowing LimeWire to work with UMG artists to launch innovative music-based NFT projects using the LimeWire marketplace.
UMG is a global leader in music-based entertainment, featuring iconic global artists including: Taylor Swift, Kendrick Lamar, The Rolling Stones, U2, BTS, Chris Stapleton, The Weeknd, Abba, Elton John… Accordingly, they can leverage the LimeWire marketplace as a new platform to discover unique ways to engage with fans through their digital and Web3 music collection, and deliver music under new form.
UMG artists can now make audio recordings, audiovisual content, behind-the-scenes footage, and any artwork and images available as NFTs on LimeWire. Fans can now more easily collect items about their idols.
Paul and Julian Zehetmayr, LimeWire Co-CEOs said:
“We see this partnership as a true testament to the speed at which the music industry is adopting Web3.
“We are excited to open the LimeWire NFT ecosystem to Universal Music Group artists and fans and can’t wait to see the first creative projects hit the market.”
Potential Web3 and NFT with the music market
In March, LimeWire announced that it would relaunch later this year as a digital collectibles marketplace for art and entertainment. Originally focused on music, it is a one-stop marketplace for artists and fans to easily create, buy, and trade NFT collections.
It is known that LimeWire raised $10.4 million in a private token sale of its LMWR just this month, led by major VC firms, which are: Deadmau5’s venture fund 720Mau5, DAO Jones, famous electronic music artist Steve Aoki.
“Universal Music Group and our brands absolutely see the excitement of the Web3 space and will be working with new partner LimeWire, our artists and their communities on exciting NFT projects.” with real utility and creating an enjoyable experience for fans, while allowing the general consumer to participate” – Holger Christoph, Senior Vice President of Digital Business at Universal Music Group, region Central Europe said.
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