• Mon. Sep 26th, 2022

Miami-Based GLOZAL Releases First NFT Music Player® – Times Square Chronicles

ByTina R. Wimmer

Jun 8, 2021

GLOZAL’s mission is to disrupt the status quo in the music industry and provide fair compensation to musicians and artists.

As an artist-driven, fan-driven platform, GLOZAL offers artists an alternative revenue model for their work, while encouraging fans to purchase exclusive content directly from their favorite artists. Coupled with their proprietary NFT Music Player®, GLOZAL is poised to revolutionize the way fans access and listen to their music NFTs.

The GLOZAL NFT Music Marketplace (glozal.com) provides a platform for artists to post exclusive content available for purchase as NFT. The platform works in concert with their encrypted NFT music player, which allows fans to bundle their musical NFTs and easily listen to them in one secure place.

A growing trend in the music industry is the rise of NFTs (“Non-Fungible Tokens”). NFTs are non-fungible tokens issued and tracked on a distributed ledger such as a blockchain. They are similar to cryptocurrencies like Bitcoin in that they can be individually identified and are authenticated through a decentralized system. However, they differ from cryptocurrencies in that they are each unique, indivisible and “non-fungible”. NFTs are stored in “smart contracts”, which are auto-executable codes that run on top of the distributed ledger on which the NFT is stored. They provide a method of “provable uniqueness” and ownership for digital artwork, images, music, and other content. NFTs are unique because each image and piece of content is linked to a single token stored in a smart contract on the distributed ledger and its ownership can be irrefutably established. While others may have copies of the same content, only one person may own the specific token authenticating ownership of the content.

All content in GLOZAL NFT Music Player is protected by encryption to prevent unauthorized copying, preserve the exclusivity of each acquired NFT, and ensure that artists are fully compensated for their NFT drops by distributing revenue via automated smart contracts . All versions of GLOZAL NFT Music are encrypted when created on the platform, so only the NFT owner can play and listen to the content they purchase on GLOZAL NFT Music Player.

Additionally, GLOZAL is offering fans and artists the opportunity to own a stake in the company through a GLOZAL Security Token (GLZ) offering through invest.glozal.com, allowing them to invest in the company and, finally, to convert their GLZ security tokens into shares. once GLOZAL is made public.