Blockchain specialist company Galaxia Metaverse announced on the 27th that it has signed a business agreement with unreleased music intellectual property (IP) content company Summit Play for collaboration in distributing non-fungible token (NFT) content. Through this agreement, Galaxia Metaverse will issue and sell NFTs linked to Summit Play’s debut project for disabled composers, “Dream Melody.”
The NFT artwork sold on MetaGalaxia is inspired by the album cover art of the “Dream Melody” project and Bae Beom-jun, a cellist with intellectual disabilities and composer. The Dream Melody NFT is a utility NFT combined with a ticket to Bae Beom-jun’s 9th solo concert “Four Seasons,” scheduled for December. It allows holders to attend the concert through on-site verification. By using the ticket NFT, users can enjoy a new experience through NFTs, and the sales proceeds will be used to support disabled artists.
Summit Play is a company that secures unreleased music IP from various artists and supplies it to affiliated stores. Under the slogan that anyone can become a composer, it is conducting the “Dream Melody” project and actively supports unknown artists through various channels. Notably, this project opens a market where disabled artists can release music as composers and generate copyright revenue.
Since launching the NFT marketplace platform MetaGalaxia in 2021, Galaxia Metaverse has been making various attempts to discover new values of NFTs, including developing physical-combined NFT products such as coupons and tickets, and the first NFT convenience store sales in Korea. Through collaboration with Summit Play, the company plans to actively support unknown artists in expanding their creative channels and generating sales revenue through NFT issuance. It also plans to develop various NFT products utilizing unreleased music IP in the future.
A company representative said, “We are honored to participate in a meaningful project supporting disabled artists. As the issuance of NFT works by disabled artists continues to increase and their fan base grows stronger, we will use NFTs to introduce new artists and expand customer touchpoints with fans to contribute to realizing public value.”
Meanwhile, Galaxia Metaverse operates not only the NFT market but also the Web3 wallet service “GALAXIA Wallet.” On May 30, it launched the beta service of “CoinSiren,” which transparently and objectively analyzes virtual asset data listed on domestic exchanges, within the app.
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