NEM (XEM) powered Copyright Bank and Cre8tor.app collaborate
NEM (XEM) based Copyright Bank was officially launched yesterday. Just a day after the news of the official launch they’ve announced a partnership with Cre8tor.app, formerly known as RecordGram. The Tune Token powered Cre8tor.app team behind the music collaboration app has previously won the TechCrunch Disrupt Cup award. They’ll register originally produced beats and songs on the NEM Blockchain via the Copyright Bank platform according to their announcement.
Copyright Bank is focussed on turning copyright works into Blockchain-powered dynamic smart assets, through the NEM Blockchain. It is one of the first few companies which has received funding from the NEM Community Fund. The Melbourne-based start-up was developed in collaboration with system integrator ASTA Solutions and NEM.io Foundation. The NEM.io Foundation’s Director for Australia and New Zealand, Jason Lee said,
“We are proud to have an innovation that can serve the global population through cross-border strategic partnerships as part of the easy-to-use NEM blockchain technology and international network.”
The recently launched platform enables owners of digital works to digitally-fingerprint and timestamp their work on the NEM blockchain. This will serve as a form of copyright protection for their works. Copyright Bank’s CEO and founder, David Oh, says,
“We are looking forward to partner with RecordGram to ensure that the Intellectual Property rights of content creators are recognized, especially in the entertainment industry.”
Tune Token announced the news on their Medium page as well as tweeted about the collaboration,
https://t.co/N6EwFofjxI, powered by @TuneBlockchain, partners with @MyCopyrightBank to register songs on the NEM Blockchain. Another project, another collaboration! This time, in the music industry! ??? #NEM $XEM #TuneToken #CopyrightBankhttps://t.co/C66oHJGYeo
— NEM (@NEMofficial) June 21, 2018
Tune Token CEO registers song
DJ BlackOut, the Grammy Award winning co-founder of Tune Token, registered his first song via Copyright Bank on the NEM Blockchain. This was done right after conversations were concluded at Consensus 2018, initiating the partnership right between the companies. Tune Token’s CEO, Erik Mendelson said,
“We are excited to work with Copyright Bank because they already have a working product that allows users of our platform to register their songs on the NEM blockchain. One of the biggest challenges facing the music industry is ensuring that the rights of songs are properly recognized so that the creators are properly paid. Through Copyright Bank, we’re able to ensure that songwriter attribution is registered on the NEM blockchain which provides our users with a cost effective, immediate time-stamped proof of ownership.”
Cre8tor.app, with their Blockchain-based ecosystem, Tune Token, will accept XEM for their token sale. Additionally, they will also look into how XEM’s technology can be incorporated to power its platform.
Image via Medium
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