Music conglomerate Universal Music Group has announced a partnership with global music media brand Billboard to launch an NFT project called ChartStars on Flow Blockchain.
The project aims to create a collection of NFTs featuring officially licensed short visual clips from music videos, album photography, etc., of artists who have achieved milestones on the Billboard Charts beginning from May.
According to a statement, ChartStars launch marks Billboard’s first scalable NFT product geared toward music fans.
“For the first time, music fans will now have an opportunity to be forever linked to their favorite artists, by sharing ownership of a moment in time,” said Julian Holguin, President, Billboard.
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UMG’s Executive Vice President of Digital Strategy, Michael Nash, added that the NFTs will create a platform for artists and fans to celebrate unique achievements.
“By harnessing its iconic charts for these compelling digital collectibles, Billboard is creating a ground-breaking new way for artists and fans to celebrate unique achievements and cultural moments,” he added.
Another partner of the project is Unblocked, a Dapper Labs backed company. It will provide the opportunity for fans to use credit cards to buy NFTs.