Zilliqa joins NFT music platform TokenTraxx to modernize the music industry with the use of blockchain technology and NFT.
Partnership
Newly launched NFT music platform TokenTraxx has announced a $1.1M partnership with high-performance, high-security blockchain, Zilliqa.
This high-performance network is committed to becoming carbon-neutral in 2022. It aims to be at the heart of the music creators economy and leverage blockchain and NFTs as a way to reward artists and delight fans. The partnership is not Zilliqa’s first foray into NFTs; the protocol powers platforms like Mintable, Unicutes, play-to-earn platform DeMons – to name a few.
Zilliqa’s new partnership aims to tokenize the music creation process and tap endless engagement opportunities such as the evolution of royalty payments, rights ownership and playlists, and other elements found on Spotify and Apple Music that can benefit from blockchain technology.
Quotes
Commenting on the development, Dr. Ben Livshits, CEO, Zilliqa, said: “With TokenTraxx, we’ve got a powerhouse of a team that draws expertise from music and entertainment, technology and business. Together, I believe we’re capable of making the music industry more rewarding for everyone by leveraging the benefits of blockchain.”
Zilliqa co-founder Max Kantelia, said: “TokenTraxx has created a game-changing model that will enrich the value chain of music creation, consumption and collection. Music has always been a passion of mine, and now I get the opportunity to see a new layer of it unlocked with my other passion: blockchain. I’m thrilled to see that tokenisation is being applied to millions of music fans around the world. Looking forward to kicking off what will be a harmonious collaboration between Zilliqa, TokenTraxx and myself!”
Miles Leonard of TokenTraxx says: “There is an intricate and symbiotic relationship between the music community’s creators, curators and collectors. Their unique roles are all coordinated through the implementation and love of music. The Token||Traxx platform, through this partnership with Zilliqa, will allow these three essential roles to work and profit together, using a new income stream that rests on NFT technology. NFTs are the foundation of our future, with functionality that can redefine and enhance the value of music. We are confident that Zilliqa’s industry-leading solution in blockchain technology will bring music fans closer to this space.”
