NEW YORK, NY, January 10, 2023 (GLOBE NEWSWIRE) — Euterpe launches first music IP-NFT mystery box after successful completion of SBT registration and Vickrey IP-NFT auction, eventually It got a lot of attention from the music and Web3 industry. A total of 1180 Mystery Boxes sold out in minutes, according to Opensea data. The percentage of unique holders reaches 92%. The conversion rate is a good indication of the success of the music copyright NFT “Cross Border” trial. This is not only a success for Euterpe, but also another technological breakthrough in the music industry. The evolution of the music industry follows technological innovation. Artists shape music, and technology shapes the future of music itself.
Euterpe believes that the lifeblood of music lies in distribution, which is based on profitable copyright. Receiving royalties was the prerogative of record companies and head streaming media. Time changes. Music copyright NFTs can be used as valid proof of rights in digital assets. Music creators can cast their music copyright shares into NFTs. This allows fans to share royalties with music creators by retaining copyright NFTs.
Music copyright NFTs are not limited to streaming platforms among music lovers and can be traded on NFT exchanges, further increasing their value and bringing vitality to the music market.
Why are music copyright NFTs so quickly recognized by the market?
NFTs raise the bar for efficiency in the music industry. In the traditional music industry, music creators had to rely on record labels and streaming platforms to release their work. Blockchain is open, transparent and traceable, allowing us to reshape how music is made, bought, sold, listened to and managed in a fair and transparent way.
NFT has created an efficient and secure communication channel between creators and fans while eliminating middleman fees. Artists get the most benefit while fans have access to a wider variety of experiences. A new business model that benefits both creators and fans.
Additionally, NFTs lower the barriers to entry into music and allow more talented musicians to emerge. In the future, becoming a million-dollar singer in the slums will no longer be a dream.
Euterpe’s core team members have over 10 years of experience in the copyright, legal, financial and computer fields. After honing the Chinese-speaking market in 2022, in Q1 2023, Euterpe will focus on Japanese and Korean music circles. This is a milestone for K-POP starting to influence global entertainment trends and the entertainment industry. BTS at the opening ceremony of the World Cup Live, the girl group with the most views on Spotify in 2022, Artist of the Year 2022 by TIME in the US – BLACKPINK, etc. They have already won various awards. We have European and American market. K-POP is also gaining popularity in Southeast Asia, Latin America and other regions. In the European and American markets, top European and American stars frequently mention K-POP, showing a strong willingness to cooperate. The acquisition of music copyrights in Japan and South Korea will accelerate Euterpe’s conquest of the global music market.
Company Name: Euterpe
Contact: Samantha Su
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