LimeWire enters into NFTs in partnership with Universal Music Group

LimeWire enters into NFTs in partnership with Universal Music Group (by bit4you)

UMG will award artists licenses for the LimeWire NFT-marketplace.

Interscope Records, Virgin Music, Republic Records, Def Jam Recordings, EMI, Capitol Records, and Motown Records are among the labels that may access LimeWire’s NFT-marketplace to reach more followers through digital NFT songs and Web3 experience.

“Important milestone reached! We’re thrilled to announce our partnership with Universal Music Group @UMG, opening up opportunities for music NFTs to all artists signed to Universal and UMG labels.”

LimeWire intends to launch an official launch campaign later this month, followed by the platform itself. The startup raised $10.4 million through a token sale in April. Also, Kraken Ventures, GST, Crypto.com Capital, and others contributed to the round of investment.

Spotify and NFT

Spotify began testing a feature in March 2022. This would allow musicians to broadcast their NFT, beginning with the well-known Steve Aoki and The Wombats, who were among the first to employ digital assets. Only individuals who use Spotify for Android in the United States may currently view NFT in artist profiles, where they can select their favorite for purchase on the associated external market.

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