Universal Music Group Enters The NFT Market

With their latest announcement that they will develop ‘Virtual Identities,’ Universal is paving the road forward in the NFT space.

The flagship label will team up with Genies, the avatar tech company, for their project, and they also state they will create NFTs for their artists.

Celine Joshua from Universal said: “UMG continues to lead and unlock what is possible with Web 3.0 and virtual economies. With our Genies partnership, we created an ideal framework and toolkit to empower our artists in the evolving digital universe.”