Touchpoint Group Announces Plans to Develop and Launch its Own Proprietary NFT Platform for Celebrities and Influencers
June 04, 2021 at 01:30 pm
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Touchpoint Group Holdings, Inc. announced it plans to pursue its own non-fungible token ("NFT") blockchain platform with the aim of integrating the NFTs into its Touchpoint video streaming platform for celebrities and influencers. By utilizing the Ethereum blockchain, these NFTs will be used to authenticate pieces of digital assets, allowing for easy identification and added value. In recent times, celebrities have sought out digital artists to mint their own non-fungible tokens to tokenize everything from music to artwork, to special live experiences. Touchpoint will integrate NFTs into its Touchpoint Connect platform further enhancing its application that offers video live streaming, content library and merchandising to its celebrity and influencer customers. NFTs are a growing trend in the music industry. Transactions using NFTs allow audiences to participate in auctions for unique content from the artists they love. The company will look to leverage its relationship with Hip Hop mogul Russell Simmons to offer an NFT marketplace platform for artists and performers to partake in this growing blockchain opportunity. The Company further noted it will not license the NFT technology from existing NFT platforms and is not bound by any agreements or understandings that would limit its rights to develop the platform in-house. The Company believes this approach will enable it to maximize both the market opportunity and value for shareholders.
Touchpoint Group Holdings, Inc. (TGHI) is a holding company. The Company, through its subsidiaries, is engaged in the media and digital technology, primarily in sports entertainment and related technologies that bring fans closer to athletes and celebrities. The Company supplies a fan engagement platform designed to enhance the fan experience and drive commercial aspects of the sports and entertainment business. The features of the Touchpoint APP and program includes live streaming, video content library, access to limited edition merchandise, including collectables such as limited-edition videos and other digitized media files (non-fungible tokens (NFT)), full end to end shop module, metaverse ready gamification, user rewards, third party-branded offers, credit cards, and associated benefits. The Company serves the United States and the United Kingdom.