On March 2, the global music media brand Billboard announced the firm has partnered with Universal Music Group (UMG) in order to launch a non-fungible token (NFT) project called Chartstars. According to Billboard, the Chartstars project will be Billboard’s first NFT product focused on music fans, as Chartstars aims to “commemorate achievements and milestones on the Billboard Charts.”
Billboard Joins the NFT Ecosystem
The American music and entertainment company Billboard has revealed it has partnered with Universal Music Group (UMG) in order to enter the growing NFT ecosystem. The company revealed on Wednesday that Billboard is launching an NFT project called Chartstars and the firm’s NFT compilation will leverage the Flow blockchain. Billboard further disclosed the Chartstars NFTs will feature “officially licensed art and creative including short visual clips from music videos, and album photography.” “The launch of Chartstars marks Billboard’s first scalable NFT product geared toward music fans. Chartstars will be a collection of artist-focused digital artwork that commemorates achievements and milestones on the Billboard Charts,” Billboard’s announcement explains. Furthermore, the music and entertainment firm said that incentives will be implemented into the Billboard NFT project. Billboards Chartstars NFT announcement adds:Collecting and gamification will be built into the platform through collector leaderboards, challenges and true utility baked into the smart contracts, including special access at Billboard Live Events. The first Chartstars products are expected to be available for purchase in May.
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