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TuneGO® to Launch Revolutionary NFT Marketplace on Flow Blockchain in Collaboration with Dapper Labs

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TuneGO®, Inc. has chosen Flow to launch TuneGONFT (www.TuneGONFT.com), a next-generation non-fungible token (NFT) Marketplace for the creative community, powered by the patented TuneGO Vault.

The first-of-its-kind solution enables artists to secure their content, protect their creative rights, mint NFTs, distribute their music to streaming platforms, monetize their music on social media, and license their content for TV, films, and video games—all on one unified platform.

“We are passionately committed to the creative community. The patented TuneGO Vault is the world’s most robust platform for content security and creative rights protection,” said John Kohl, Co-Founder and CEO of TuneGO. “The Flow blockchain is the world’s premier blockchain for NFTs. We believe no one can match our platform’s seamless integration across the full supply chain of music, art, and entertainment.”

TuneGONFT, accessible on mobile devices and desktops at www.TuneGONFT.com, is built on the Flow blockchain and has been fully integrated with the patented TuneGO Vault. The enhanced TuneGO Vault for NFTs, launched earlier this year, creates a permanent digital record of the entire creative process prior to the minting of an NFT, ensuring the highest achievable level of creative rights transparency and protection against copycats and piracy, as well as increasing the NFT’s value for collectors.

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Using TuneGONFT, NFT buyers and collectors can gain secure, private access to the patented TuneGO Vault after buying an NFT, where they can view the original creative rights, as well as access, view, and download all of the digital files included on the NFT.

“The combination of the patented TuneGO Vault with the Flow blockchain offers both NFT creators and collectors a simplified, seamless platform for the transfer of NFT ownership rights,” said Alison Ball, President of TuneGO. “The entire NFT transaction history is secured on-chain with Flow and off-chain with TuneGO, which creates the world’s most transparent and secure platform for managing NFT creator and collector rights. We are incredibly proud to be transforming the music industry and the creative universe for the better in this way.”

One of the revolutionary and groundbreaking features of TuneGONFT is creator splits, which track the revenue splits of the NFT sales, plus the master recording and publishing splits of the music associated with the NFTs. TuneGONFT provides music artists and the creative community with the ultimate solution for managing song splits, plus NFT revenue splits—ensuring maximum transparency for revenue and royalty collection, plus fair and equitable payments to the creative community.

“Blockchain is reshaping how people use and interact with our digital world,” said Mickey Maher, Head of Flow Partnerships, Dapper Labs. “Our partnership with TuneGO helps empower the creative community to harness blockchain to transform how they and their audiences create and consume content—while protecting what they own and market.”

Additional TuneGONFT features include:

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  • Creative Rights Ownership Consensus: The average hit song today has 4+ songwriters and 6 publishers—and therefore, there are at least 10 creative rights owners for each individual song. The patented TuneGO Vault requires all copyright owners, songwriters, and publishers to review and approve the creative rights prior to the minting of the NFT, ensuring creative rights protection for artists that prevents royalty disputes going forward.
  • Environmentally Safe & Energy Efficient Technology: Flow is a proof-of-stake blockchain that consumes thousands of times less energy than Ethereum and other traditional proof-of-work blockchains. This makes TuneGONFT one of the most advanced and environmentally friendly technology solutions for content security, creative rights protection, and equitable royalty collection.
  • An End-to-End Ecosystem for Creating & Distributing Content: All TuneGO users, even those who do not utilize NFTs, can secure their content and protect their creative rights in the patented TuneGO Vault; distribute music to major streaming platforms (such as Spotify, Apple, and Amazon); monetize music and artwork on social media platforms (such as TikTok, YouTube, Instagram, and Facebook); and license music and artwork for feature films, TV projects, and video games—all on one unified platform.

The first scheduled release on TuneGONFT will be the inaugural NFT drop from Method Man’s Tical World, as previously announced in Rolling Stone and covered by Bitcoin.com. TuneGO is also working with Hidden Beach Recordings on a robust, long-term NFT initiative based on music and other culturally relevant and historic content. Numerous additional NFT announcements from A-List celebrity artists, record labels, and music libraries are also forthcoming.

Blockchain

Europe Tax Advisory Market Valuation Poised to Soar to USD 28.50 Billion By 2032 | Astute Analytica

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Blockchain

Brazil to Tighten Regulation on Foreign Crypto Exchanges

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Brazil’s Receita Federal Increases Scrutiny on Foreign Cryptocurrency Exchanges

Brazil’s tax authority, Receita Federal, plans to intensify its oversight of foreign cryptocurrency exchanges operating within the country. This move aims to enhance regulation and transparency amid the rising use of digital assets in Latin America’s largest economy.

New Reporting Requirements for International Platforms
Recent reports indicate that Receita Federal will soon issue an order requiring international cryptocurrency platforms, including Binance and Coinbase, to provide detailed operational data and information on their partnerships with local service providers.

Government’s Regulatory Focus
Andrea Chaves, Deputy Secretary of Inspection at the Federal Revenue Service, emphasized the importance of this measure. “It’s crucial for us to understand how they operate here and ensure there’s no illegality,” she stated. The government aims to ensure compliance with tax laws and confirm that services provided to Brazilian customers are fully legal.

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Wagner Lima, a risk management coordinator at Receita Federal, underscored the need to review collaborations between foreign exchanges and local service providers. This review ensures compliance with a 2019 regulation that mandates information sharing.

Rise in Crypto Asset Declarations
This decision comes in response to a significant increase in crypto asset declarations by Brazilians. From January to July 2023, Brazilians declared 133.6 billion reais ($24.6 billion) in crypto assets, marking a 36.6% increase from the previous year. Notably, 14.5 billion reais were declared through foreign exchanges, representing a 51.2% growth.

Upcoming Order Details
The forthcoming order will require exchanges to disclose their operational methods and customer service practices in Brazil. However, it will exclude customer-specific data and transactional information to comply with current Brazilian laws.

Future Regulatory Framework
Brazilian authorities are also working on developing a clear framework for digital currencies and their legal status, expected to be introduced by mid-2024. This framework aims to organize both local and foreign exchanges operating within Brazil, ensuring their compliance with local laws and regulatory requirements.

Source: cryptotimes.io

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The post Brazil to Tighten Regulation on Foreign Crypto Exchanges appeared first on HIPTHER Alerts.

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Financial Institution NAB Embraces Crypto Custody Solution

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National Australia Bank Invests in Crypto Custody Firm Zodia Custody

National Australia Bank (NAB), a prominent financial institution, has taken a significant step into the cryptocurrency custody arena. Instead of creating its own digital currency, NAB Ventures has opted to invest in Zodia Custody, a London-based firm specializing in the secure storage of digital assets for institutional clients.

Strategic Shift and Industry Alignment
This investment marks a strategic shift for NAB, aligning itself with global financial leaders like Standard Chartered, Northern Trust, and SBI Holdings, who have already acknowledged the importance of safeguarding digital assets for investors. By partnering with Zodia Custody, NAB showcases a forward-thinking approach, choosing collaboration over direct competition with established players like Coinbase.

Commitment to Innovation
The decision to invest in Zodia Custody reflects NAB’s commitment to providing cutting-edge solutions to its institutional clients while leveraging the potential of the crypto market. This move positions NAB as a key ally for institutional investors seeking secure and regulated infrastructure to navigate the complexities of digital asset storage and management.

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Additional Insights
One significant aspect not highlighted in the initial report is that NAB’s engagement with a crypto custody solution underscores the growing demand from institutional investors for secure and regulated infrastructure to enter the crypto space.

Key Questions
1. How will NAB’s partnership with Zodia Custody impact its overall financial services and competitive position in the market?
2. What regulatory challenges and compliance requirements does NAB face by entering the crypto custody space?
3. How does NAB plan to address security concerns related to the storage of digital assets for its institutional clients?
4. What are the potential risks and rewards for NAB as it ventures into the crypto custody sector?

Key Challenges
NAB may encounter several challenges, including regulatory compliance issues, cybersecurity risks, market volatility of crypto assets, competition from existing players in the space, and the need to build trust among institutional clients for their crypto custody services.

Advantages
1. Access to a Growing Market: Entry into the rapidly expanding crypto market and potential new revenue streams.
2. Strengthened Partnerships: Enhanced relationships with global leaders in the crypto custody sector.
3. Diversification: Broadening service offerings to meet the evolving needs of institutional clients.

Disadvantages
1. Regulatory Scrutiny: Increased regulatory oversight and compliance costs.
2. Market Volatility: Exposure to the highly volatile nature of crypto assets.
3. Reputation Risk: Potential damage to reputation if security breaches or operational issues occur in the custody of digital assets.

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Source: smartphonemagazine.nl

The post Financial Institution NAB Embraces Crypto Custody Solution appeared first on HIPTHER Alerts.

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