Universal Music partners with NFT platform Curio

UMG, which touts Curio as the leading NFT platform for entertainment brands and musicians, will become the first major label to partner with the company.

UMG says the deal will allow it to leverage Curio’s “technology, exclusive partnerships and innovative fan engagement networks” to develop NFT projects from its roster of artists and labels. UMG also wants to offer “greater scalability and flexibility to issue authentic fan-orientated collectibles, carefully curated for each project”.

Launched in 2020, Curio released its first NFTs in February 2021. The platform claims it has published more than 75 000 NFTs for brands across music, film, television and graphic novels. The two companies are working together on their first batch of collections, which are expected in March, and will feature Capitol Music Group artist Calum Scott.

“UMG and our labels are focused on developing NFT projects that authentically engage and speak to our artists’ fanbases and new audiences,” UMG executive vice-president of digital strategy Michael Nash said. “With Curio, our labels will have a secure and dedicated platform to host these premium projects and provide new opportunities for collectors and fans from around the world to acquire unique pieces, inspired by their favourite artists and labels. UMG is focused on developing new opportunities in this space that place our artists and labels at the forefront, working to ensure that the evolution of Web3 provides exciting new avenues for their creativity.”

Curio co-founder and co-CEO Ben Arnon said. “Curio is thrilled to be partnered with UMG in the NFT and Web3 space. UMG has a huge catalogue with unlimited opportunity to deliver value to fans across the globe. Their brands and labels are historic and iconic. And the digital innovation and Web3 expertise among their executives is unparalleled.”

Curio’s team boasts a wealth of experience, including Arnon, who previously worked at UMG, and veteran music manager Dan Dymtrow who helms Curio’s music and influencer NFT global partnerships. The former global head of music at William Morris Endeavor, Marc Geiger, is an investor and advisor to Curio.

Prior to this partnership, Universal struck several other NFT-related agreements, including developing virtual identities and NFTs for its artists in partnership with avatar tech company Genies. In November, the label launched a virtual group called Kingship, which it claims is “one of the most successful NFT projects of all time.”

UMG and Curio’s partnership follows the growing impact and interest of NFTs in the music industry. Last week, legendary rapper Snoop Dogg said he sold about $45m worth of NFTs in less than a week, and shared plans to turn his recently acquired Death Row Records into a NFT label. Other musicians such as Steve Aoki say that they have made more money from NFTs than they did from advances over the past 10 years.