LimeWire is partnering with Universal Music Group to allow music lovers to use NFTs as a means of purchasing and converting digital tracks. The company has also made it easy for developers looking to integrate the platform into their games or other projects.
“LimeWire Enters into Universal Music Group NFT Partnership.” LimeWire has entered into a partnership with Universal Music Group subsidiaries. The company will be able to offer their customers music in the form of “NFTs” (non-fungible tokens).
LimeWire, the recently revived music sharing technology, continues to expand at a fast rate. It just established a profitable deal with Universal Media Group, the world’s largest audio company (UMG).
UMG’s legion of notable artists will be allowed to distribute NFTs through the platform as a result of the agreement, which will come in the form of music, artwork, and collectibles showcasing participating stars. As a consequence, LimeWire’s NFT adventure will begin with a complete complement of high-quality material.
The revived turn-of-the-century file sharing network will ramp up its efforts with a launch campaign at the end of May, followed by the debut of an all-new Algorand-based NFT marketplace. For the once-forgotten brand name, this is a real return to form.
A significant milestone has been attained! We’re ecstatic to announce our agreement with Universal Music Group @UMG, which will allow all Universal and UMG artists to participate in music NFTs.
More information can be found here: https://t.co/VHolELPC1e pic.twitter.com/JfE3IfMEQ0
May 17, 2022 — LimeWire (@limewire)
The news comes as Spotify prepares to enter the non-fungible market. As a result, this marks a significant transformation as music embraces its Web3 future, with both platforms apparently complementing one another.
LimeWire isn’t the only digital relic ready to make a return in the Web3 domain, with Napster, another questionable music platform, waking up to fight the NFT business. In recent days, word spread that the platform had been purchased by a consortium led by Algorand and Hivemind. As music adopts blockchain technology, it portends a bright and tune-filled future.
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