New York, NY, Jan. 10, 2023 (GLOBE NEWSWIRE) — Euterpe launched its first music IP-NFT Mystery box after the SBT registration and Vickrey IP-NFT auction ended and eventually attracted a lot of attention from music- and the Web3 industry. According to the data on Opensea, a total of 1180 Mystery Boxes were sold out within minutes. The proportion of unique holders reaches 92%. The conversion rate fully demonstrates the success of the music copyright NFT “cross-border” trial. This is not only Euterpe’s success, but also another technological breakthrough in the music industry. The development of the music industry goes with technological innovation. Artists shape the music, and science and technology reshape the future of music itself.
Euterpe believes that the vitality of music lies in its circulation, which is based on copyright making a profit. It has been the prerogative of record labels or mainstream media to get copyright royalties. Times are changing. Music copyright NFT can be used as an effective proof of rights to digital assets. Music creators can put their music copyright interests into NFTs, allowing fans to share royalties with the music creators by holding copyright NFTs.
Music copyright NFT is not limited to the streaming platforms among music lovers and can be traded on the NFT exchanges, which will further increase its value and thus bring energy to the music market.
Why is the music copyright NFT quickly recognized by the market?
NFT increases the efficiency of the music industry. In the traditional music industry, music creators have to rely on record labels and streaming platforms to launch their works. Blockchain is open, transparent and traceable, making it possible to reshape the way music is produced, bought, sold, listened to and managed in a fair and transparent way.
NFT has built an efficient and secure communication channel between the creators and the fans while eliminating the intermediary fees. Artists get most of the profits while fans have access to more varied experiences. This is a new business model that will benefit both the creators and the fans.
In addition, NFT lowers the entry barriers for music and allows more talented musicians to emerge. In the future, the millionaire singer in the slums will no longer be a dream.
Euterpe core team members have more than ten years of experience in copyright, law, finance and data fields. After polishing the Chinese-speaking market in 2022, in Q1 of 2023, Euterpe will focus on the Japanese and Korean music communities. This is a milestone as K-pop begins to exert influence on the global entertainment trend and entertainment industry. Whether it’s BTS at the opening ceremony of the World Cup live, or the girl group with the most views on Spotify in 2022, and Artist of the Year 2022 by TIME in the USA – BLACKPINK, they have already won various awards in the European and American markets. K-pop is also becoming increasingly popular in Southeast Asia, Latin America and other regions. In the European and American market, more and more European and American top stars have often mentioned K-pop and shown a strong intention to cooperate. The acquisition of Japanese and Korean music copyrights will accelerate Euterpe’s conquest of the global music market.
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Company name: Euterpe
Contact: Samantha Su
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