UMG Universal Music Group NV

By Mauro Orru

Universal Music Group NV has struck a deal with nonfungible token platform Curio to create NFT collections for its record labels and artists.

The world's largest music company said Thursday that the partnership would enable it to leverage Curio's technology to license artwork, audio recordings and audio-visual content in the form of NFTs--digital proofs of a purchase for goods like art or digital music.

"UMG and our labels are focused on developing NFT projects that authentically engage and speak to our artists' fanbases and new audiences," said Michael Nash, Universal Music's executive vice president of digital strategy.

The music major behind The Weeknd, Billie Eilish and Taylor Swift said it is working with Curio on the first wave of projects. The first project with Capitol Music Group artist Calum Scott is slated to launch in the spring.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

February 17, 2022 10:37 ET (15:37 GMT)

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