Terra Virtua and Utopia Genesis Foundation join hands to connect with the mainstream audience through blockchain technology. Utopia will not only distribute royalties but also tokenize them from music.
https://medium.com/terravirtua/terra-virtua-partners-with-utopia-genesis-2af74249395e
They will use the data to reduce their costs while increasing their revenues and speedup payment cycles. Utopia will use cutting-edge analytics and make a world where tech feed and music boost each other’s growth. It will give exposure to songwriters and bands and will help to change the music industry. Terra Virtua looks forward to the partnership to create NFTs based on artists’ memorabilia and their works to be sold on their platform.
Genesis, the CSO of Utopia, says that this will give a chance to the artists to create their collectibles and product. The Co-Founder and CTO, Jawad Ashraf, added that by having a relevant music catalog and indie bands, the bands would have a chance to generate increasing revenues from the commodity. They will be able to achieve a global audience and have a better connection with their fans. Artists will enjoy monetization that they have not earlier. Terra Virtua is a platform offering entertainment collectibles. They use blockchain technology and deliver utility as the collectors get a chance to showcase their digital assets and interact with them virtually on the web, PC, Mobile, and even Augmented Reality. Utopia Genesis Foundation aims to provide a standardized and open process for the music industry to track and further develop and tokenize rights.
