NEO is one of the largest holders of cryptocurrency in the Asia Pacific Region and the strategic masterpiece of China’s Neo foundation. The main objective of the blockchain mogul is to disrupt existing business models and inspire wide adoption of Blockchain technology across industries. It is upon this typical setting that Neo foundation decided to sign an investment deal with Muzika, a Korean based music company that has attracted the interest of a number of investors.
Decentralised Applications
Neo foundation is based upon a similar competing edge with Ethereum. The company set out to promote mass adoption of blockchain technology through a blockchain-based distributed computing infrastructure.
Neo’s adept inclusion towards disrupting existing business models by utilisation of blockchain technology placed Muzika on its roadmap of exceptional disruption of the status quo. Muzika’s high profile blockchain model has resulted in a variety of top-notch investment firms, including T3 ventures, 256 ventures and Everest Investment Group. The company also boasts of a user base of more than 150 million worldwide users.
NEO Global Capital is also investing in several other Blockchain related projects. The lists comprise of Trinity and Ruffchain. Trinity is a peer to peer payment network while Ruffchain is a decentralized Internet of Things (IoT) platform.
Muzika’s Core Mission
Muzika started as a community-based blockchain for protecting individual copyrights for musicians. On the basis of intellectual property protection infrastructure, the company was able to build upon existing copyright protection technology using emerging blockchain technology.
The distributed platform records every digital utilisation of a music record that generates revenue. The digital utilisations provided in part as functionalities include streaming, downloading and sharing.
The company also functions as a distribution center. This means that distribution is not controlled by only a few giant entertainment firms.
Conclusion
Neo confirmed that Muzika’s competitive edge in its marketing capabilities gave it an upper hand to align itself upon industrial expertise in the music industry. Interoperability, as well as technology infrastructure established a better platform for global music marketing.
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