Utopia is on a mission to distribute and tokenise royalties from music by leveraging big data to increase revenues, reduce cost and accelerate payment cycles. Utilising leading edge analytics, Utopia are using this insight to create a world where music and tech feed and grow off each other.
In simple terms, what this means is it gives huge exposure for bands and songwriters, and it also has the chance to change the music industry as a whole.
As part of our partnership with Utopia, we will be looking at the creation of NFTs based on artists’ works and memorabilia, which will be sold exclusively on the Terra Virtua platform.
Daniele Sestagali — CSO of Utopia Genesis said “Working with Terra Virtua will allow us to expand upon the Utopia Open Platform and add the ability for artists and music owners to mint their own collectibles and merchandise. Together with some of the most innovative companies adopting blockchain technologies, we aim to work collaboratively to move the industry forward.”
Jawad Ashraf — CTO and co-founder added: “By having access to the most relevant catalogue of music, and also to indie bands alike, we can provide a way for bands to receive incremental revenues from merch, reach a global audience and better connect with their fans. We believe Utopia has the ability to deliver and work with us to provide a complete layer of monetisation artists have not had before”
About Terra Virtua
Terra Virtua (www.terravirtua.io) is an entertainment-focused collectibles platform. Using blockchain technology, it provides utility by allowing collectors of digital assets to display and interact with their virtual goods in PC, Web, Mobile and Augmented Reality. Leveraging the latest in mobile and gaming technologies, their mission is to engage and connect fan-based user communities.
About The Utopia Genesis Foundation
The Utopia Genesis Foundation (www.utopiagenesis.com) was founded with a mission to establish an open and standardized process for the music industry to track, process and tokenize rights. By introducing a universal blockchain protocol for anyone who wants to run commercial projects in the modern music industry, the Foundation aims to provide the infrastructure, tools and funding needed for the development, maintenance and growth of the ecosystem.
