High-performance, scalable, and secure public blockchain Zilliqa today announced it had secured a $1.1 million partnership with the leading NFT music platform Token||Traxx in a bid to make the music industry more rewarding and equitable for all.
Zilliqa Inks Partnership with Token||Traxx
Zilliqa, a high-performance, enterprise-grade public blockchain that is set to go carbon-neutral by 2022 is burning the midnight oil to leverage blockchain and NFTs to cement itself as the leader in the music creator economy. Accordingly, Zilliqa has partnered with Token||Traxx to incentivize artists and satisfy fans.
Notably, the alliance with Token||Traxx is not Zilliqa’s first foray into NFTs as the protocol already powers several leading platforms such as Mintable, Unicutes, play-to-earn platform DeMons, among others.
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.
Notably, Token||Traxx is led by award-winning producer TommyD and former Warner Music chairman Miles Leonard.
Commenting on the development, Dr. Ben Livshits, CEO, Zilliqa, said:
“With Token||Traxx, 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.”
The Details of the Partnership
Per sources close to the matter, the partnership will witness a combined injection of $1.1 million from both Zilliqa the company and its co-founder Max Kantelia.
“Token||Traxx 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, Token||Traxx and myself!”
Token||Traxx’s partnership with Zilliqa will enable it to gain instant access to the latter’s reputable, scalable, and secure protocol that has a name for its low-cost minting and affordable gas fees.
Zilliqa also holds the distinction of being the first permissionless blockchain and smart contract platform that leverages the sharded architecture and is able to process thousands of transactions per second.
Miles Leonard of Token||Traxx 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.”