Chinese music industry’s first godfather music NFT coming iBox brewing change

In the future, as more NFT applications come to fruition, this track is likely to become a key driver and cornerstone for many industries to achieve digital economic transformation.

What is NFT? In today’s digital economy of great concern, I believe you are no stranger to it.

On June 24, following the Dunhuang Fine Arts Institute-Alipay co-branded NFT skin, Alipay once again launched the famous anime work “Wu Liu Qi” Alipay payment code skin. Previously, Alipay joined Dunhuang Fine Arts Institute to issue NFT digital works and 16,000 pieces of NFT were sold out.

With the recognition of NFT by well-known Internet companies, the NFT market has also attracted the attention of many newcomers. An encounterable trend is that NFT, as a form of bearing digital collections, has gradually gained the recognition of giant companies and in-depth users in the Internet era.

And in the near future, iBox, the world’s leading digital collection e-commerce platform, has also contributed a new form to the prosperous iteration of the NFT market. On June 24, iBox officially announced that the platform will launch the first godfather-level music NFT in the Chinese music industry on the WeChat public number “iBox NFT Platform”.

iBox will launch the first godfather-level music NFT based on WeChat

Although the official creator of the NFT has not been disclosed yet, but according to sources, it is likely to be a well-known musician who is known as the “Godfather of Music”. It is understood that the release of the NFT will fill the gap of no top music NFT in the Chinese music industry. At present, users can follow the WeChat public number “iBox NFT platform” to participate in interactive name guessing activities to receive the first godfather music NFT rewards.

NFT is a blockchain credential with the characteristics of inseparability, irreplaceability and uniqueness, and is commonly used in the field of cultural artworks to play the role of on-chain issuance, circulation and confirmation of intellectual property rights, which can effectively protect intellectual property rights and prevent tampering and counterfeiting, and is an important application of blockchain technology in the field. Previously, Hollywood movie producers abroad have combined NFT technology to produce digital derivatives around movies.

“Artists are able to plunge into the field of new technology and use it for themselves right away. That’s what makes me so excited about NFT.” That’s how renowned musician Vickie Nauman describes her expectations for blockchain technology to reshape the art industry.

With the rise of any industry ultimately following basic business logic, how does the NFT ecosystem, which carries blockchain technology, bring new opportunities for musicians? Unlike an MP3 file that can be shared millions of times, a digital file connected to the blockchain comes with a complete record of ownership, and this ability to determine the provenance of a work gives songs and digital artworks an unprecedented collector’s value.

As the person in charge of Antchain said, because of the uniqueness of NFT and the inability to standardize splitting and trading, it is essentially different from homogenized tokens (such as virtual coins like Bitcoin), and NFT guarantees the uniqueness of works and the authenticity of transactions.

The NFT wave is brewing a change in the digital economy

Putting music works on the chain is not the only use of NFT.

Essentially, digital collections are an innovation in the way of collecting. Through digitalization, it not only solves the problems of difficult to confirm the rights and chaotic flow of traditional collections and artworks, but also promotes a new form of artwork creation, giving birth to more and more native digital collections, so digital collections are rapidly being respected by Generation Z, represented by the post-95s.

On June 8, iBox jointly released the first series of movie NFT works in China with the producer of the movie “True Three Kingdoms”. The series of NFT works involve a total of 30 different forms of props and posters from the movie “True Three Kingdoms”, including stills and costumes of the characters played in the movie by Gulina Za, Gu Tianle, Liu Jia Ling, Wang Kai and Han Geng, etc. It is the first attempt of cooperation between domestic digital collectibles e-commerce platform and head movie IP.

The release of the first domestic movie NFT is an active exploration of iBox’s aim to create a more complete and richer NFT distribution mechanism and strengthen the cooperation with head IPs in the movie field.

In addition, the iBox team had issued the first set of public welfare NFT works in China, pioneering the use of blockchain credential technology to help the public welfare cause.

As a digital collection with investment value, NFT makes the new media digital art collection, which was originally in low-frequency transactions, appear in front of the general public. Since entering the 21st century, there are more and more creators of new media digital art. In the future, with the landing of more NFT applications, this track is likely to become a key driver and cornerstone for many industries to achieve digital economic transformation.

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