Universal Music Group to release Digital Music on LimeWire’s Algorand Marketplace

Written By Simon Mwebaze

Digital music sharing is making its way back into the NFT space. Shortly after Napster’s made its return as an NFT marketplace on Algorand, LimeWire made its move. But LimeWire is not doing this like any other marketplace.

The Algorand-based marketplace will focus on music-related assets including music, artwork, and collectibles. But what stands out the most about it is Universal Music Group has signed with the platform.

Universal Music Group handles Interscope Records, Def Jam Records, Motown Records, and others. Artists under their labels include Taylor Swift, Kendrick Lamar, The Rolling Stones, U2, The Weeknd, Abba, and Elton John.

While the agreement does not mean all the artists will have NFTs on LimeWire, it gives them the chance to do so.

This is not Universal’s first tango with Web3. in November 2021, it launched Kingship. Kingship is a Gorillaz-inspired virtual band based on a series of Bored Ape Yacht Club NFTs. The band’s performances will be in the metaverse plus they will have NFTs for sale.

Rivals like Warner Music Group have also signed partnerships with The Sandbox. This tassel between music juggernauts through Web3 collaborations is only the beginning.

We are witnessing the stage being set for a music-friendly Web3 in the future.

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