- Hollywall formed a new R&D division to explore the use of cryptocurrency technologies, token omics, NFTs, and the blockchain
- The company is working on the HW Network digital delivery platform, a revolutionary digital distribution and verification system designed to maximize quality control, revenues for creators and copyright owners, and customer delivery
- NFTs have garnered a lot of interest and have provided a different avenue for fans to support artists directly
- Hollywall’s foray into music NFTs fulfills its commitment to empowering creatives as well as offering value
Interest in non-fungible tokens (“NFTs”) ballooned in 2021, resulting in unprecedented growth in NFT sales to $25 billion in 2021, up from just $95 million a year earlier (https://ibn.fm/cGXxw). The buzz around NFTs percolated different sectors, reaching the ears of both laypeople and experts and, as a result, earning recognition as 2021’s word of the year, according to the Collins Dictionary (https://ibn.fm/MWaNE). Still, as a recent Forbes article notes, NFTs have the potential to disrupt vast swaths of industries and sectors (https://ibn.fm/RShiY).
“Many experts expect NFTs to prove especially transformative in shaping the future of music. Songs, albums, music, lyrics, and soundbites can all be NFTs,” reads the article. “When you take a deep dive into what NFTs enable, NFTs seem especially poised to define the future of music.”
The article discusses how NFTs enable equitable compensation and greater potential for remixes and collaborations. They also capitalize on scarcity appeals and, at the same time, let fans exploit novel opportunities to enrich and deepen connections with their favorite musicians. “When you closely examine the value propositions of NFTs… NFTs seem poised to transform the music industry,” the article concludes.
In understanding the inherent value of NFTs, Hollywall Entertainment (OTC: HWAL) “is developing a one-of-a-kind, state-of-the-art, digital distribution and verification system designed to maximize customer delivery, quality control, and revenues for artists, writers, content developers, shareholders, and copyright owners” (https://ibn.fm/QPD3L).
Christened the HW Network digital delivery platform, the revolutionary digital distribution and verification system is expected to change the way the media and entertainment industries carry out their businesses in the future. And to ensure its success, Hollywall has formed a new research & development (“R&D”) division to explore the use of cryptocurrency technologies, token omics, NFTs, and the blockchain.
The Collins Dictionary defines NFTs as a unique digital certificate that is registered in a ledger known as the blockchain and records the ownership of collectibles and creative works. With Nashville-based rock band Kings of Leon generating $2 million from the release of an album as an NFT last year and celebrated DJ-cum-producer Steve Aoki dropping an NFT collection that became “one of the most expensive digital pieces of art sold to date,” according to Business Insider (https://ibn.fm/0qLPH), NFTs are becoming an integral part of how fans can support artists. Hollywall understands this.
By offering a system that enables artists, creators, writers, musicians to set up and sell NFTs, Hollywall would be fulfilling its commitment to empowerment and value provision. “We serve some of the finest creators, writers, developers, and music artisans of our time by providing a business solution and distribution platform that maximizes a global audience reach,” the company’s website reads (https://ibn.fm/PswpC).
For more information, visit the company’s website at www.Hollywall.com.
NOTE TO INVESTORS: The latest news and updates relating to HWAL are available in the company’s newsroom at https://ibn.fm/HWAL
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