Plume Network and Music Protocol Partner to Revolutionize Music Tokenization

Plume Network, a real-world assets (RWA) platform backed by Brevan Howard Digital and Haun Ventures, has partnered with Music Protocol, a tokenized real-world music assets protocol. The collaboration aims to redefine music tokenization and monetization, enabling the music royalties tokenization platform to leverage Plume Network’s modular blockchain.

Unlocking New Opportunities for the Music Industry

By working together, Plume Network and Music Protocol aim to unlock new opportunities for artists, investors, and copyright holders. The partners believe that their collaboration will transform ownership in the music industry through the RWA space. Plume’s purpose-built blockchain is expected to play a crucial role in this transformation.

Music Protocol facilitates the monetization of music royalties by bringing them on-chain as digital assets. This is achieved through the use of blockchain technology and crypto liquidity, enabling programmable music IP on-chain. The result is the creation of new financial opportunities for investors across the industry.

Benefits for Users and the Music Industry

Users will be able to trade and manage music IP with lower transaction costs, according to the partners. This is made possible by Plume’s optimized infrastructure for real-world assets, which ensures seamless integration for industries such as music, real estate, and finance.

“By optimising infrastructure for real-world assets, Plume provides an ecosystem that ensures seamless integration for industries such as music, real estate, and finance.”

As the companies bridge music IP and blockchain, they aim to support an ecosystem that offers not only investment opportunities but also new revenue streams. Music Protocol will expand the accessibility of RWA music on-chain with financial support from a Plume Foundation grant.

Plume Network’s Recent Developments

In January, Plume Network announced the expansion of its cross-chain integration via its interoperability solution, SkyLink. The platform plans to deploy SkyLink across 18 blockchains, including Solana, Injective, Movement, and Core, as it targets institutional-grade RWA adoption.

In early February 2024, Plume Network announced a partnership with Latin America crypto platform Mercado Bitcoin to help tokenize $40 million in RWA. The network has also integrated several other key industry players, including Ondo Finance, Google Cloud, Superstate, Fireblocks, Symbiotic, Cobo, and Aethir.

For more news on the latest developments in the cryptocurrency and blockchain space, visit Global Crypto News.

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