On the new Web3 version of LimeWire, the major music label behind Taylor Swift, U2, Kendrick Lamar, and BTS will allow artists to drop NFTs.
Web3-based digital music sharing platforms are making a comeback. LimeWire, which unveiled its own Algorand-based marketplace in March, revealed today that it has signed big label Universal Music Group to its platform, just days after rumors leaked that Napster would return in the form of an NFT marketplace on Algorand.
Artists signed to Universal Music Group and its many imprint labels will be able to distribute tokenized digital collectibles through the future LimeWire marketplace as part of the global partnership.
Interscope Records, Def Jam Records, Motown Records, Geffen, Republic Records, EMI, Virgin Music, and others are among Universal's imprints.
In April, LimeWire announce that it has raised $10.4 million in a token sale led by Kraken Ventures, Arrington Capital, and GSR, with participation from other firms such as Crypto.com Capital and musician Deadmau5’s 720Mau5 fund.
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