Fintech: Southeast News

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Posted August 13, 2021

 

What is Glozal?

Glozal is a music technology company whose aim is to develop an “artist focused and fan driven” NFT music platform. In addition to that, Glozal has planned to launch world’s first NFT Music Player.

The company was founded very recently in the year 2021. It is a Florida-based company. It operates only in the music industry as of now. Since it was recently founded and a small company, the number of employees ranges from 11 to 50. The company is privately held by capital contributed mostly by the founders.

As mentioned above, it has its headquarters in Miami, Florida in the United States of America. Although its specialty is in music, it takes interest in NFTs, blockchain technologies and cryptocurrencies.

What is an NFT?

An NFT is short for non-fungible token. They are a type of digital asset that can be bought and sold online. NFTs can include digital art, paintings, images, videos, collections and other digitized assets. Recently, the Chicago Bulls launched their own NFT collection.

NFTs have gained high popularity from retail investors after a digital art piece was sold for over a million dollars. Non-fungible tokens along with blockchain gaming platforms and start-ups can be the next revolution.

What is an NFT music player?

An NFT music player allows one to purchase songs of their favourite artists digitally. These purchases are licensed as NFT trades.

Such a platform has not been developed yet. However, the newly founded company named Glozal has announced that they will be the first company to develop an NFT music player.


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