Global music brands Billboard and Universal Music Group are teaming up to launch ChartStars, an NFT-based digital collectibles project built on the Flow blockchain.
This is Billboard’s first scalable NFT project aimed at music lovers. The collection will consist of digital artwork dedicated to artists that celebrate achievements and milestones on the Billboard charts. Items will feature officially licensed images, including short visual clips from music videos and album photos.
“For the first time, music fans will now have the ability to be forever connected to their favorite artists by sharing ownership of a moment in time,” Julian Holguin, president of Billboard, said in a statement.
Crypto startup Unblocked is also participating in the initiative. Earlier this year, the startup raised $90 million in funding from Jay-Z, Tiger Global, and Dapper Labs, which developed Flow.
The development comes against the backdrop of a dependent connection point between the mainstream music entertainment industry and the use of NFTs for consumer branding and promotion. In January, artist Nas sold the royalties for two of his songs as NFTS. Last month, The Block reported that Coachella had partnered with FTX US to launch tethered NFT festival passes and other perks.
“By using its iconic charts for these compelling digital collectibles, Billboard is creating a revolutionary new way for artists and fans to celebrate unique accomplishments and cultural moments,” said Michael Nash, UMG’s executive vice president of digital strategy, in a statement.
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