As part of a $1.1 million collaboration arrangement, Zilliqa has joined the NFT TokenTraxx music platform. The partnership’s goal will be to modernize the music industry by making it more egalitarian and rewarding.
By 2022, the carbon-neutral platform hopes to establish itself in the music industry thanks to a robust blockchain network and newly available NFT technology, which will act as a link between the real world and blockchain technology.
The relationship between Zilliqa and TokenTraxx is not the company’s first foray into the NFT space. Platforms like Mintable, Unicutes, and DeMons, as well as other NFT technology-based solutions, can use the protocol.
By converting music process tokens into royalty payments, patents, and other advantages seen on platforms like Spotify and Apple Music, Zilliqa will provide musicians with more options to obtain royalties, patents, and other benefits. Distributed ledger technology or blockchain can be used to enable all functions.
Zilliqa is thrilled to be a part of a firm that combines powerful innovations from the music and entertainment sectors with cutting-edge technology and proven business processes. Dr. Ben Livshits, the company’s CEO, is looking forward to utilizing the blockchain’s benefits in conjunction with others.
One of the goals of the new relationship is a $1.1 million investment from both Zilliqa as a company and its founder Max Kantelia, who believes in TokenTraxx’s game-changing technology and the value it provides to music creation, use, and consumption. All of these components of the industry will be merged using the most cutting-edge and efficient technologies.
Following a partnership with Zilliqa, the NFT music platform will soon have access to a secure and controllable protocol that can be used at minimal cost and with little gas. Zilliqa’s network can handle thousands of processes per second without experiencing issues like network congestion or excessive gas expenses.