Billboard and Universal Music Group Partner to Launch Flow-Based NFT Collectibles

On March 2, the worldwide music media model Billboard introduced the agency has partnered with Universal Music Group (UMG) with the intention to launch a non-fungible token (NFT) challenge referred to as Chartstars. According to Billboard, the Chartstars challenge might be Billboard’s first NFT product centered on music followers, as Chartstars goals to “commemorate achievements and milestones on the Billboard Charts.”

Billboard Joins the NFT Ecosystem

The American music and leisure firm Billboard has revealed it has partnered with Universal Music Group (UMG) with the intention to enter the rising NFT ecosystem. The firm revealed on Wednesday that Billboard is launching an NFT challenge referred to as Chartstars and the agency’s NFT compilation will leverage the Flow blockchain. Billboard additional disclosed the Chartstars NFTs will characteristic “formally licensed artwork and inventive together with quick visible clips from music movies, and album pictures.”

“The launch of Chartstars marks Billboard’s first scalable NFT product geared towards music followers. Chartstars might be a group of artist-focused digital art work that commemorates achievements and milestones on the Billboard Charts,” Billboard’s announcement explains. Furthermore, the music and leisure agency stated that incentives might be carried out into the Billboard NFT challenge. Billboards Chartstars NFT announcement provides:

Collecting and gamification might be constructed into the platform via collector leaderboards, challenges and true utility baked into the sensible contracts, together with particular entry at Billboard Live Events. The first Chartstars merchandise are anticipated to be accessible for buy in May.

UMG and Billboard Execs Believe NFTs Make It so Fans Can Be ‘Forever Linked to Their Favorite Artists’

Universal Music Group (UMG) not too long ago revealed it partnered with the NFT market Curio in mid-February. UMG additionally launched a Bored Ape Yacht Club (BAYC) leisure challenge in mid-November final yr. Michael Nash, UMG’s govt vp of digital technique, stated Billboard is pioneering new methods for music followers to hook up with artists.

“By harnessing its iconic charts for these compelling digital collectibles, Billboard is making a ground-breaking new method for artists and followers to have a good time distinctive achievements and cultural moments,” Nash stated in a press release on Wednesday. Julian Holguin, the president of Billboard, agrees with Nash about NFTs creating new methods for followers to work together and share possession with at this time’s music artists.

“For the primary time, music followers will now have a chance to be perpetually linked to their favourite artists, by sharing possession of a second in time,” Holguin remarked in the course of the announcement. “These digital collectibles will have a good time and commemorate particular chart achievements with visually gorgeous [creativity]. Fans will even compete for real-life prizes, including an genuine layer of gamification to the whole platform,” the Billboard govt added.

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