“We see this partnership as a true demonstration of the pace at which the music industry is embracing Web3,” said Paul and Julian Zehetmayr, LimeWire Co-CEOs. LimeWire revealed the same month that it has chosen Algorand blockchain to enable the relaunch of its NFT marketplace.
In March, LimeWire, the file-sharing website that previously allowed users to download music and other content for free online, announced it is relaunching later this year as a mainstream-ready NFT marketplace for art and entertainment, initially focusing on music. UMG artists, as well as many of the company’s iconic record labels, such as Interscope Records, Republic Records, Def Jam Recordings, Capitol Records, Motown Records, Geffen, EMI, Virgin Music, and others, will be able to use the LimeWire NFT marketplace as an additional platform to explore new ways to engage with fans through digital music collectibles and Web3, and generate new revenue streams.Īs part of this partnership, UMG will give licence, allowing LimeWire to collaborate with UMG artists to launch creative music-based NFT projects using the LimeWire marketplace. LimeWire, an NFT marketplace, announced its first major music label contract with Universal Music Group (UMG), the world leader in music-based entertainment, and will work together to make digital music collectibles more accessible to a wider audience.
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