Utopia Genesis Foundation Partners with Terra Virtua
We are excited to announce our newly established partnership with Terra Virtua, an entertainment-focused platform using blockchain to help collectors and other parties establish ownership of virtual goods. This integration with the Utopia Open Platform and Genesis Application will allow for artists and music owners to tokenize virtual goods such as NFTs, merchandise and other collectibles. Together with the Utopia Open Platform and its Genesis Application, music industry stakeholders and the larger community will be able to tokenize music rights, crowdfund the launch of projects and spearhead new initiatives that will allow for increased innovation and participation.
Terra virtua is a marketplace geared for the mass market which allows for purchasing, trading and interaction with NFTs across multiple platforms. It does so by creating an immersive marketplace and ecosystem where people can buy, sell, store and display digital collectibles in fully customizable environments. Terra Virtua already works with leading brands such as Paramount Pictures and Legendary Entertainment. Beyond NFTs, Terra Virtua also facilitates the convergence of digital collectibles with decentralized finance.
Formed to support the development of the Utopia Open Platform for the music industry, the Utopia Genesis Foundation found synergies between Terra Virtua and the Utopia Genesis Application, which will allow for community members to take an active role in the creation, production and revenue of various music assets, from songs and albums to NFTs and collectibles. By tokenizing all aspects of the music supply chain and providing the infrastructure needed to capture new market opportunities, Utopia aims to build the most vibrant community with the help of strategic partners like Terra Virtua.
The co-founder and CTO of Terra Virtua, Jawad Ashraf, said “By having access to the most relevant catalogue of music, and also to indie bands alike, we can provide a way for bands to receive incremental revenues from merch, reach a global audience and better connect with their fans. We believe Utopia has the ability to deliver and work with us to provide a complete layer of monetization artists have not had before.”
Daniele Sestagali, the CSO of Utopia Genesis Foundation commented on this new partnership, saying “Working with Terra Virtua will allow us to expand upon the Utopia Open Platform and add the ability for artists and music owners to mint their own collectibles and merchandise. Together with some of the most innovative companies adopting blockchain technologies, we aim to work collaboratively to move the industry forward.”
About The Utopia Genesis Foundation
Utopia Genesis Foundation was formed to support the development of the Utopia Open Platform for the music industry. The Utopia Open Platform is designed on a purpose-built blockchain which utilizes the PoA (Proof of Authority) consensus protocol, using a number of decentralized validators. The Utopia Open Platform will launch with the Genesis Application, which will allow for micro co-ownerships of music projects — as it enables the artists and owners of the music to sell a share of their work’s revenue stream to the community. Genesis Application will be the first of its kind to allow artists to tokenize their music rights and interact with fans and investors to finance their projects. Genesis Application will be a gateway to the financial rights of the music world. (https://utopiagenesis.com)
About Terra Virtua
Terra Virtua is an entertainment-focused collectibles platform. Using blockchain technology, it provides utility by allowing collectors of digital assets to display and interact with their virtual goods in PC, Web, Mobile and Augmented Reality. Leveraging the latest in mobile and gaming technologies, their mission is to engage and connect fan-based user communities. (https://terravirtua.io)