Collaboration between Plume Network and Music Protocol

Brevan Howard Digital and Haun Ventures have backed the real-world assets platform Plume Network in collaboration with Music Protocol, a tokenized music assets protocol, to redefine music tokenization and monetization.

The partnership, announced on February 24, will allow Music Protocol’s music royalties tokenization platform to utilize Plume Network’s modular blockchain for bringing music intellectual property on-chain.

With a goal to transform ownership in the music industry through the RWA space, Plume’s specialized blockchain is expected to play a significant role. The announcement highlighted that their collaboration could unlock new opportunities for artists, investors, and copyright holders.

Music Protocol focuses on the monetization of music royalties by converting them into digital assets on-chain. By leveraging blockchain technology’s transparency and security, alongside crypto’s liquidity, it enables programmable music intellectual property. This creates novel financial opportunities for industry investors, allowing them to trade and manage music IP at reduced transaction costs.

> “By optimizing infrastructure for real-world assets, Plume provides an ecosystem that ensures seamless integration for industries such as music, real estate, and finance,” noted Music Protocol in a post on X.

As the partners connect music IP with blockchain, they strive to support an ecosystem that not only offers investment opportunities but also generates new revenue streams. Music Protocol will enhance the accessibility of RWA music on-chain with funding from a Plume Foundation grant.

In January, Plume announced the growth of its cross-chain integration via their interoperability solution SkyLink, targeting deployment across 18 blockchains, including Solana, Injective, Movement, and Core, aiming for institutional-grade RWA adoption.

Additionally, in early February 2024, Plume Network revealed a partnership with Mercado Bitcoin, a Latin America crypto platform, to tokenize $40 million in RWA. They have also integrated with several industry players, including Ondo Finance, Google Cloud, Superstate, Fireblocks, Symbiotic, Cobo, and Aethir.

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