Source: Universal Music Group
Universal Music Group (UMG) has publicly disclosed its collaboration with Genies, an avatar technology company. The partnership brings some of the globally famed artists into the metaverse.
The global team-up “will equip artists with official virtual identities for use in Web 3.0 and the shifting age of the Internet,” said the company in a statement. Additionally, exclusive avatar wearables will be available for all UMG artists to deliver to their fans to collect.
Official virtual identities in the metaverse will be provided for UMG artists. Justin Bieber and Shawn Mendes have requested for Genies to make their avatars. Currently, the idea includes Rihanna, Migos, and many more of UMG’s artists. Their characters are to be adopted in the metaverse and the avatars will be used in different social media platforms as well.
The end objective is the creation of a proficient marketplace by Genies to provide fans with a variety of NFT merchandise from their beloved artists that they can purchase and trade, and eventually wear in numerous metaverses. Dapper Labs’ Flow blockchain is the marketplace’s developer and will be launched in the months to come.
“We’re not bringing culture to NFTs and crypto,” stated Genies CEO Akash Nigam in a statement. “Genies and UMG together are bringing the power of NFTs and crypto to culture.”
There is no need to fret about artists’ avatar not acquiring a pair of trainers as Nike recently announced the securing of RTFKT NFT, which calls itself “a leading brand that leverages cutting edge innovation to deliver next generation collectibles that merge culture and gaming.”
President and CEO of Nike John Donahoe said, “This acquisition is another step that accelerates Nike’s digital transformation and allows us to serve athletes and creators at the intersection of sport, creativity, gaming and culture.”
“We’re acquiring a very talented team of creators with an authentic and connected brand. Our plan is to invest in the RTFKT brand, serve and grow their innovative and creative community, and extend Nike’s digital footprint and capabilities,” he later added.