PlayTreks Named a Notable Blockchain Company by the EU Blockchain Council.

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Europe is taking major steps forward to harmonize the legal, regulatory and policy frameworks of EU member states on crypto-assets.

DUBAI, DUBAI, UNITED ARAB EMIRATES, Oct. 11, 2022 /EINPresswire.com/ — PlayTreks Named Notable Blockchain Company by EU Blockchain Council.

Europe is taking major steps forward to harmonize the legal, regulatory and policy frameworks of EU member states on crypto-assets. On 24 September 2020, the European Commission published a proposal for a “Regulation of the European Parliament and of the Council on markets for crypto-assets”, commonly referred to as the MiCA proposal. This proposal is part of the Digital Finance package. This is a comprehensive package of measures to further enable and support the potential of digital finance in terms of innovation and competition, while reducing risk. The European Parliament voted in favor of a draft of the proposed MiCA framework on 14 March 2022. This has now entered the next phase of discussions between the European Parliament, the European Council and the European Commission. The proposal remains a major challenge for the EU as the debate on how crypto should be regulated is strong and ongoing.

In addition to the MiCA proposal, the Digital Finance package also contains a proposal for a pilot regime on DLT market infrastructures. It also includes a proposal on digital operational resilience, and a proposal to clarify or amend certain related EU financial services rules. Europe’s strategy prioritizes ensuring that the EU’s regulatory framework for financial services is innovation-friendly and does not constitute obstacles to the application of new technologies. The MiCA proposal, together with the proposal for a DLT pilot regime, represents the first concrete action in this area.

Finally, as shown in the European Financial Stability and Integration Review from 2022, the European Commission is well aware of the potential of decentralized finance (DeFi) and associated innovations to streamline the financial sector and offer efficient, robust and transparent services.

Given the growing interest in cryptocurrency assets and their underlying technology (blockchain or DLT), in 2020 the European Blockchain Observatory and Forum (EUBOF) conducted a study to capture the current state of technological, market and regulatory developments in each of the 27 EU Member States, plus Switzerland and the United Kingdom (UK).

The study is relevant as different countries present different states of development within blockchain and crypto assets on several dimensions:

Regulation and policy: several countries have recently legislated or issued guidelines, leading to market fragmentation.

Business activity: As a result of differing regulatory treatment, entrepreneurial and investment activity is unevenly concentrated among nations, leading to new clusters.

In order to support Europe’s efforts to develop a harmonized framework across EU member states, it is therefore important to study the current level of regulatory and market maturity in each of them. This report aims to do that by providing short country-level “fact sheets” summarizing the state of affairs in each country.

Since its inception, PlayTreks has experienced fantastic growth with its All-in-One platform. The platform provides all the important functionality artists need to succeed. It also includes a rapidly growing NFT marketplace, where artists and record labels can have control over their digital content and monetization without having to deal with intermediaries.

Being named a notable blockchain company in the EU’s Blockchain Council Market study is another milestone and recognition for the innovative work we are doing to democratize the music industry, said Anjo De Heus, CEO and founder of PlayTreks.

PlayGrounds / PlayTreks was recently named a key player, among other well-funded NFT marketplaces such as Opensea, TuneGo, Rarible, Amuse, Nifty Gateway, Opulous and Makersplace by AMA Research.

PlayTreks, a Belgium and UAE-based company that offers music distribution, data analytics, airplay monitoring and a blockchain-based marketplace. Since launching its services, the pre-Series A company has been quietly attracting indie artists to the NFT music market to drive increased revenue and stronger fan relationships.

What sets PlayTreks apart from the pack is the fact that the company not only has a powerful NFT marketplace, but also includes music distribution to all Web2 platforms, near-real-time global radio monitoring, metadata from millions of artists and songs, and cross-channel analytics .

The inclusion of PlayTreks in the EU Blockchain Market study report follows recent recognitions being recognized as a key player in the NFT industry by AMA Research, being named one of the 6 leading Music NFT marketplaces by Growthchain.io, and in recognition by Emirates Angel Investors Association, the UAE Ministry of Economy and Cosmo Energy Holdings to represent the UAE on a trade mission to CEATEC, one of the largest consumer electronic trade fairs in the world, held in October in Tokyo, Japan. PlayTreks has been named a key player in the NFT Music segment by several market-leading research organizations through 2022.

We are proud to be recognized as a key player in the NFT Music industry, said Robbert Vroegindeweij, co-founder of PlayTreks / The PlayGrounds. Our goal from day one has been to democratize the music industry and provide a powerful All-in-One platform for DIY or Indie artists with a high level of transparency and tools to optimize digital content monetization.

Global NFT Music has become a fragmented market due to the presence of various players. The companies are planning strategic activities such as partnerships, mergers and acquisitions that will help them to sustain the market and maintain competitive advantage.

For more information contact PlayTreks by email [email protected] or visit the website at www.playtreks.com or www.theplaygrounds.io

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