Concordium and Beatoken partner up to transform the way artists connect with their fans and communities
February 21, 2023 - Zug, Switzerland - Concordium Blockchain announces it is partnering with Beatoken, an innovative social platform that aims to bridge the gap between artists, fans, record labels and streaming services by leveraging the popularity of digital assets and security tokens.
With connections to Samsung and Universal as well as a distinctive network in the Danish music industry, Beatoken is a curated marketplace for rare digital music collectables created by the Danish rapper Kesi and associates. The platform provides a new and exciting way for music enthusiasts to engage with their favourite artists, while also creating new opportunities for investment in the industry.
Beatoken allows users to buy unique releases, live sets, remixes, and artworks from their favourite artists, but also gain access to unique art, unpublished music, and physical merchandise. Additionally, both music enthusiasts and industry stakeholders can invest in copyrighted digital assets granting ownership of shares from the royalties earned from streams. On Beatoken, artists can crowdfund their projects and offer their “partners'' special experiences, gaining more insight into their fan group, while fans can follow the artist's traction and compete with each other in a fun and engaging environment.
By partnering with Concordium, the only layer-1 decentralized blockchain with a built-in self-sovereign ID framework, Beatoken will be able to ensure that all transactions on its platform are fast, secure and transparent while gathering data on how people consume music and using this information to create new revenue streams for artists and record labels.
The partnership with Concordium is also a big step forward for Beatoken towards its goal of using blockchain technology to modernize the music industry for a new generation of fans and a new iteration of the internet, creating new and exciting ways to connect artists and their fan communities. Beatoken launched its first app in January 2023 and will introduce more exciting features in the months to follow.
"Beatoken’s platform is a step forward to a new era of music NFTs connecting fans and artists," says Holger Fischer, Concordium's Blockchain Solutions Analyst. "With this partnership, we continue to build on our commitment to trust and privacy, while supporting projects in our blockchain that foster innovation like Beatoken in the music industry."
Yaw Gyamfi, CEO & Co-Founder of Beatoken, says: “We are proud to reveal a partnership with Concordium that will bring further innovation to the industry. With the support of our strong partners, we are confident in our ability to revolutionize the music industry and create new opportunities. We believe that our unique approach to connecting artists, fans, record labels, streaming services and brands will change the way we listen to music and we're excited to see the impact it will have on the industry. We're confident that our partnerships with Concordium and our strong relationship with the Danish artists will help us achieve our goals and we're excited to continue building on these relationships in the future."
Media Contact
Marketing team
marketing@concordium.com
About Beatoken
Beatoken is a platform that creates a bridge between artists, fans, record labels, and streaming services. We are bringing music to the Blockchain. The global music industry and the way we do business today will change drastically by digitalization, and we aim to be at the forefront of this development and meet the needs of any artist, fan, record label, or streaming service today and in the future.
About Concordium
Concordium is a permissionless green layer 1, science-backed blockchain designed to balance privacy with accountability through its ID layer and the use of Zero-knowledge proofs. Creating trust with ID is a key to scaling of businesses. Concordium provides a fast, secure, and high scale blockchain platform that makes building use cases and using dApps easy. Concordium differs by having verified ID and instant finality with a high throughput, low transaction fees, pegged to FIAT. With leadership from Fortune 500 companies, Volvo, IKEA, Credit Suisse, Uber, and successful Fintech platforms, the team is now scaling the chain to its extensive network of the world's biggest enterprises. For more information: concordium.com
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