Music Streaming Service QQ Music Receives NFT Treatment

Mainstream music streaming service QQ Music has released a new partnership with blockchain startup Anquan. The initial coin offering will see the company release its own token named “XQN,” which is worth 18 cents on the day of launch according to CoinMarketCap data, as well as three other tokens: gold coins for 10 cents, silver for 6 cents and bronze for 3 cents.

QQ Music, a music streaming service in China has recently announced that it will be releasing its own cryptocurrency called “NFTs” on the Ethereum blockchain. The digital tokens are designed to incentivize users to create and share content on the platform. Read more in detail here: win free nft.

Tencent, a Chinese technology and media behemoth, has revealed that it has started testing PFP avatars for NFT profiles as well as a virtual “Music Zone” in the QQ Music app. The blockchain initiatives of the QQ Music app, which has 220 million users worldwide but is geo-restricted to only enable Chinese nationals to access it, went live on Monday.

On July 6, 40,000 digital collectibles will be made available via the PFP NFT component of the project, and Chinese customers will be able to buy them for only 0.88 Yuan (or The PFP NFT facet of the endeavor involves the launch of 40,000 digital collectibles on July 6th, which Chinese users will be able to purchase for only 0.88 Yuan (or $0.13 cents) apiece. The mass collection will be minted on Tencent’s own Zhixin blockchain, with each asset being a two dimensional, stick-man like drawing of a virtual, music-loving character..13 cents) each. Each asset in the mass collection will be a two-dimensional stick-figure sketch of a fictional, music-loving character that will be minted on Tencent’s own Zhixin blockchain.

Owners of one of these NFTs will be able to invite their friends’ avatars to the “Music Zone,” a recently created virtual space resembling the metaverse, where they may enjoy listening to music together from the comfort of their own homes.

For readers in the West who are unsure of the project’s relevance, it should be noted that QQ Music owns both Spotify and the Tencent conglomerate. If the business’s NFT ball sticks, digital asset usage throughout the Asian continent (particularly in the area of music streaming) may expand noticeably. The company is on track to raise the user base of its eponymous music app by nearly thrice to 700 million.

 

QQ Music, a music streaming service that is popular in China has received an NFT treatment. Users can now play their songs on the blockchain with QQ Coins. Reference: how to play nft games.

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