Social Creator NFT Market XREATORS signed a strategic business agreement with Beatsomeone, a global music sales market platform
Tokenize digital sound sources of music creators such as songwriters and beatmakers as Non-Fungible Tokens (NFTs)
Providing high-quality sound sources from global musicians through a reliable sales process
XREATORS, a ‘Social Creator NFT Market’ that connects creators with fans and provides copyright content sales service, announced on the 20th that they had signed a strategic business agreement with Beatsomeone, a global music sales market platform. Accordingly, it is expected that the sound sources of music creators such as beatmakers and songwriters who are active in Beatsomeone will be tokenized as Non-Fungible Tokens (NFTs) globally and can be purchased through the XREATORS Market.
Beatsomeone is the first songwriter platform in Korea and a music sales market platform that is rapidly developing as a global service. Many hit songs and high-quality global sound sources are distributed through Beatsomeone. The registered sound source information is safely stored with a security system based on Beatsomeone’s blockchain technology.
Beyond simply owning Non-Fungible Tokens (hereinafter referred to as NFTs), XREATORS makes a broader connection with consumers by expanding the content market in various forms, such as split sales and linking with external copyright markets. In addition, XREATORS plans to provide a platform that strengthens copyright (IP) protection for the content market to grow quantitative and qualitatively. In particular, XREATORS is trying to prevent various forgeries and copyright infringements that have recently emerged in the rapidly growing NFT market. Furthermore, XREATORS aims to connect creators and fans closer with blockchain technology by adapting a copyright authentication system issued by a national institution.
NFT market is rapidly growing. According to Nonfungible.com, the size of the NFT market exceeded $ 338.03 million in 2020. The first quarter of 2021 has already reached $2 billion, increasing 131 times compared to the same quarter last year.
Music creators can expect to earn additional revenue when digital sound sources registered in Beatsomeone are tokenized as NFT and sold in the XREATORS market. In addition, consumers in the XREATORS market can purchase high-quality sound sources freely and safely from forgeries and piracy based on blockchain technology and copyright authentication. The industry experts agreed that the strategic cooperation between the two companies would significantly impact building a healthy digital music content ecosystem with this virtuous cycle of music content transactions.
Yonghwan Kim, CEO of Beatsomeone, said, “NFT Market XREATORS is a platform service that will create synergy with us in terms of connecting content and social creators.” He also emphasized, “As there are many hit songs distributed through Beatsomeone, it is suitable for NFT content. Also expected that long-term content production will be possible due to the level of musicians currently active is high.”
Gina Park, CEO of XREATORS, said, “Music is a special content that people from all over the world can communicate deeply without being tied to a specific language.” And showed strong confidence that “XREATORS will be able to lead the global music NFT market through the strategic cooperation of XREATORS and Beatsomeone.”