- 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…
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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