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 successfully concluded and finally attracted much attention from the music and Web3 industries. According to the data on Opensea, a total of 1180 Mystery Boxes were sold out within a few minutes. The proportion of unique holders hits 92%. The conversion rate fully demonstrates the success of music copyright NFT “cross-border” trial. This is not only Euterpe’s success, but also another technological breakthrough in the music industry. The evolution 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 circulation, which is based on copyright bringing profits. It has been the privilege of record companies or head streaming media to obtain copyright royalties. Time changes. Music copyright NFT can be used as an effective proof of digital asset rights. Music creators can mint the music copyright shares into NFTs, which allows the fans to share the 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 does the music copyright NFT is quickly recognized by the market?
NFT levels up the efficiency of the music industry. In the traditional music industry, music creators have to rely on record companies and streaming platforms to launch their works. Blockchain is open, transparent and traceable, which allows 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 safe 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 diverse experiences. This is a new business model which will benefit both the creators and the fans.
In addition, NFT lowers the barriers to entry for music and allows more talented musicians to show up. In the future, the million-dollar 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 computer fields. After polishing the Chinese-speaking market in 2022, in Q1 of 2023, Euterpe will focus on the Japanese and Korean music circles. This is a milestone as K-pop is beginning to exert influence on the global entertainment trend and entertainment industry. Whether it is BTS at the opening ceremony of the World Cup live, or the girl group with the most views on Spotify in 2022, and the Artist of the Year 2022 by TIME in the United States – BLACKPINK, they have already won various awards in the European and American markets. K-pop is also gaining popularity in Southeast Asia, Latin America and other regions. In the European and American markets, more and more top European and American stars have frequently mentioned K-pop and demonstrated a strong intention to cooperate. The acquisition of Japanese and Korean music copyrights will accelerate Euterpe’s conquest of the global music market.
Company Name: Euterpe
Contact: Samantha Su
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