Token||Traxx Inks $1M Partnership Deal With Zilliqa To Bring NFTs To Millions Of Music Fans

Newly launched NFT music platform Token||Traxx has announced a $1.1M partnership with high-performance, high-security blockchain, Zilliqa.

Token||Traxx aims to attract and engage the whole music community – from artists and fans who are cryptocurrency and NFT natives, to newcomers to the sector. Token||Traxx will use the blockchain to open up new opportunities for artists and fans to engage and transact, including the evolution of royalty payments, rights ownership and playlists, such as those found on Spotify or Apple Music.

Over the past year, Zilliqa has built several enterprise partnerships, including a blockchain-powered social listening tool and recently entered the world of esports.

The Token||Traxx partnership is its foray into the music industry and signifies the company’s continuing strategic direction to raise its profile globally as Zilliqa pivots towards rebuilding the creator economy to be more equitable, incentivised and rewarding for all.

This has been underpinned by the recent hiring of a new CEO in Dr. Ben Livshits, formerly of Brave, who said: “With Token||Traxx, we’ve got a powerhouse of a team that draws expertise from music and entertainment, technology and business. Together, I believe we’re capable of making the music industry more rewarding for everyone by leveraging the benefits of blockchain.”

Zilliqa’s partnership with Token||Traxx includes a combined injection of $1.1m from both Zilliqa as a company and from its co-founder Max Kantelia, who said: “Token Traxx has created a game-changing model that will enrich the value chain of music creation, consumption and collection. Music has always been a passion of mine and now, I get the opportunity to see a new layer of it unlocked with my other passion: blockchain. I’m thrilled to see that tokenisation is being applied to millions of music fans around the world. Looking forward to kicking off what will be a harmonious collaboration between Zilliqa, Token||Traxx and myself!”

Token||Traxx’s expertise includes co-founders Miles Leonard, ex-Chairman of Parlophone Records/Warner Music; TommyD, an award-winning producer and DJ who has worked with Kanye West, JayZ, Beyonce and Kylie to name a few; Richard Zijlma, who for 20 years ran the Amsterdam Dance Event (ADE), the largest electronic music festival in the world; and Marco Bertozzi, formerly a Vice President at Spotify, who has recently joined the board of advisors.

Leonard said: “There is an intricate and symbiotic relationship between the music community’s creators, curators and collectors. Their unique roles are all coordinated through the implementation and love of music. The Token||Traxx platform, through this partnership with Zilliqa, will allow these three essential roles to work and profit together, using a new income stream that rests on NFTs technology. NFTs are the foundation of our future, with functionality that can redefine and enhance the value of music. We are confident that Zilliqa’s industry-leading solution in blockchain technology will bring music fans closer to this space.”

Renowned in the industry for being the first public blockchain and smart contract platform to be built on a sharded architecture, Zilliqa offers a high-performance network with a low carbon footprint, without compromising security and decentralisation. The partnership will allow Token||Traxx to gain immediate access to this reputable, secure, and high-tech protocol known for its low-cost minting and gas fees.

“Zilliqa’s commitment to become carbon neutral by 2022 is a principal reason we chose them over other blockchains that wanted to partner with us. We are building the foundations of something ambitious, but it must be sustainable. We will be keeping emissions to an absolute minimum from the start with our environmentally friendly NFTs. This is key to making music NFTs accessible to everyone,” commented TommyD.