Polygon Partners with Token||Traxx
Polygon, Partners with Token||Traxx To Produce Multichain Music NFT Marketplace
- NFT music platform creating an intertwined distributed ecosystem
- Polygon to provide additional software support and potential funding to emerging musicians on the Token||Traxx platform
- Token||Traxx to have cross-chain bridge with existing partner, Zilliqa
The collaboration will allow Token||Traxx to leverage Polygon’s low-cost and interoperable infrastructure to build out its music NFT marketplace.
Polygon Studios — the NFT and gaming arm of leading Ethereum scaling protocol Polygon — will also be offering grant funding to Token||Traxx’s new, independent music creator economy which is set to make a seismic paradigm shift within the music marketplace. The Polygon foundation will support the development of the Token||Traxx software and their emerging artists as they continue to grow their Web3 creator economy.
Token||Traxx is a new marketplace that redefines and enhances the value of music, by supporting and financially benefiting the entire music community using Non-Fungible Tokens (NFTs) technology.
Token||Traxx will be multi-chain, using Polygon along with other networks including its strategic founder partner Zilliqa which it will bridge to later this year.
“NFTs have the opportunity to positively disrupt the music industry, providing creators with a greater share of the distribution rights while conveying verifiable ownership to fans. By leveraging Polygon to accomplish this goal, Token||Traxx unlocks the full potential of the Web3 creator economy and sidesteps the prohibitive transaction fees and latency associated with Ethereum,” Ishan Negi, Chief of Staff, Polygon Studios said:
“Token||Traxx is delighted to join forces with Polygon. Polygon’s sustainable and ultra low-cost blockchain and interoperable ecosystem presents the perfect launchpad for the project. With cross-chain technology and cross-chain bridges in place Token||Traxx will run with increased elasticity, providing users with freedom of choice. Through Polygon’s novel Ethereum scaling solution, we will be getting excellent user experience with high-speed transactions, near-zero gas fees and superb community governance. Cross-chain capabilities will also maximise secondary NFT markets for us,” Tim Gentry, Chief Operating Officer and co-founder of Token||Traxx and formerly global revenue director at the Guardian.
About TokenIITraxx
Token||Traxx has a mission to be at the centre of a new independent music creator economy, providing a platform driven by NFTs, that redefines and enhances the value of music, which supports and financially benefits the whole community.
Token||Traxx celebrates and rewards the unique symbiosis of ‘The 3C’s — Music’s Creators, Curators and Collectors’ and their specialist contribution to the discovery and adoption of global music engagement.
Token||Traxx offers financial independence and creative freedom.
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About Polygon
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more. Polygon’s scaling solutions have seen widespread adoption with 7000+ applications hosted, 1B+ total transactions processed, ~100M+ unique user addresses, and $5B+ in assets secured.
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