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Newly launched NFT music platform has announced a $1.1M partnership with high-performance, high-security blockchain, Zilliqa.

Token||Traxx聽aims to attract and engage the whole music community – from artists and fans who are cryptocurrency and NFT natives, to newcomers to聽the sector.聽Token||Traxx will use the blockchain to open up new opportunities for artists and fans to engage and transact, including the evolution聽of royalty payments, rights ownership and playlists, such as those found on Spotify or Apple Music.

Over the past year, Zilliqa has built several enterprise partnerships, including a blockchain-powered social listening tool and recently entered the world of esports.

The Token||Traxx partnership is its foray into the music industry and signifies the company鈥檚 continuing strategic direction to raise its profile globally as Zilliqa pivots towards rebuilding the creator economy to be more equitable, incentivised and rewarding for all.

This has been underpinned by the recent hiring of a new CEO in Dr. Ben Livshits, formerly of Brave, who said: 鈥淲ith Token||Traxx, we鈥檝e got a powerhouse of a team that draws expertise from music and entertainment, technology and business. Together, I believe we鈥檙e capable of making the music industry more rewarding for everyone by leveraging the benefits of blockchain.鈥�

Zilliqa鈥檚 partnership with Token||Traxx includes a combined injection of $1.1m from both Zilliqa as a company and from its co-founder Max Kantelia, who said: 鈥淭oken Traxx has created a game-changing model that will enrich the value chain of music creation, consumption and collection. Music has always been a passion of mine and now, I get the opportunity to see a new layer of it unlocked with my other passion: blockchain. I鈥檓 thrilled to see that tokenisation is being applied to millions of music fans around the world. Looking forward to kicking off what will be a harmonious collaboration between Zilliqa, Token||Traxx and myself!鈥�

Token||Traxx鈥檚 expertise includes co-founders Miles Leonard, ex-Chairman of Parlophone Records/Warner Music; TommyD, an award-winning producer and DJ who has worked with Kanye West, JayZ, Beyonce and Kylie to name a few; Richard Zijlma, who for 20 years ran the Amsterdam Dance Event (ADE), the largest electronic music festival in the world; and Marco Bertozzi, formerly a Vice President at Spotify, who has recently joined the board of advisors.

Leonard said: 鈥淭here is an intricate and symbiotic relationship between the music community鈥檚 creators, curators and collectors. Their unique roles are all coordinated through the implementation and love of music. The Token||Traxx platform, through this partnership with Zilliqa, will allow these three essential roles to work and profit together, using聽a new income stream that rests on NFTs technology. NFTs are the foundation of our future, with functionality that can redefine and enhance the value of music. We are confident that Zilliqa鈥檚 industry-leading solution in blockchain technology will bring music fans closer to this space.鈥�

Renowned in the industry for being the first public blockchain and smart contract platform to be built on a sharded architecture, Zilliqa offers a high-performance network with a low carbon footprint, without compromising security and decentralisation. The partnership will allow Token||Traxx to gain immediate access to this reputable, secure, and high-tech protocol known for its low-cost minting and gas fees.

鈥淶illiqa鈥檚 commitment to become carbon neutral by 2022 is a principal reason we chose them over other blockchains that wanted to partner with us. We are building the foundations of something ambitious, but it must be sustainable. We will be keeping emissions to an absolute minimum from the start with our environmentally friendly NFTs. This is key to making music NFTs accessible to everyone,鈥� commented TommyD.