Universal’s Web3 label 10:22PM launches NFT collection and virtual world for metaverse band KINGSHIP - Music Business Worldwide

Beginning:  Launched at the start of 2021 by Q&A co-founders, Carter and Suzy Ryoo, Venice Music offers services to indie artists including distribution, marketing, and A&R support, plus creative, digital, and sync services.Venice says that, since its launch a year-and-a-half ago, it has “curated a group of creative geniuses” that incl... See more

- “The partnership is a true demonstration of the pace at which the music industry is embracing Web3.- “We’re thrilled to open up the LimeWire NFT ecosystem to Universal Music Group artists and fans with our easy to use marketplace and can’t wait to see the first creative projects being launched on the marketplace.”

The project is currently securing partnerships with a number of undisclosed high-profile artists, and plans to let fans begin backing music productions in October. After building and validating a product around music ownership, the team plans to expand their approach to other royalty-generating assets––both digital (TV licensing, YouTube content cr... See more

Despite the recent downturn, the music industry’s interest in web3 is still as strong as ever. Artists, managers and labels are all coming around to the idea that web3 represents a massive opportunity to re-architect how musicians earn a living and connect with their fans. As an artist or manager, you might be wondering what your web3 strategy is g... See more

" “The biggest thing I noticed over the last year and a half, since we started Venice, was that artists needed a lot more alongside just distribution. We decided to build a more holistic solution to it. That’s what created the idea around the [Venice] Collective.” "

MusicThe fast-growing ecosystem in the music NFTs is also noticeable. Fan rewards and royalties are two significant differences between Web2.0 and Web3.0 musical collectables.