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HBAR partner A.R Rahman to develop NFT platform for India’s music industry

HBAR

TL;DR Breakdown

  • Hbar partner Indian musician Rahman to develop NFT platform for India.
  • Revenue made from NFT to be donated to charity.

The HBAR Foundation has announced partnership with Indian composer, producer and musician A.R. Rahman to create content for a new NFT music platform focused on India’s independent music community.

The foundation would provide grant and organizational support for the development and growth of the NFT platform, scheduled to launch in the first quarter of 2022.

As part of the launch, A.R. Rahman will release his first-ever NFT drop, with portions of the proceeds going to charity. Mr. Rahman is best known for his Oscar-winning “Slumdog Millionaire” soundtrack and has also won two Grammy Awards and a Golden Globe.

“We’re excited to partner with HBAR Foundation to create content, as well as support and mentor the new NFT platform, which in turn will bring more opportunities to the Indian music community,” said Mr. Rahman. “The new platform will enable independent musical artists to release content as NFTs, interact with fans, engage with their communities and help monetize their creations.”

Why HBAR for A.R Rahman NFT

Among a growing number of organizations, Hedera Hashgraph has been selected for NFT offerings, as Hedera has the industry’s most decentralized and transparent governance model, led by the Hedera Governing Council, ensuring reliability of the network. Furthermore, Hedera offers 10,000 transactions per second, boasts low and predictable transaction fees, real-time settlement, and sustainable energy consumption due to its eco-friendly proof-of-stake consensus.

“The HBAR Foundation is proud to support innovative projects across the globe, and our strategic partnership with A.R. Rahman provides tremendous value to the HBAR ecosystem with its focus on the large and vibrant music community in India,” said Shayne Higdon, Executive Director & CEO at the HBAR Foundation.
“We are excited to be a part of this maiden journey of A.R. Rahman into the world of NFTs, and it is an important step reflecting our commitment to building the blockchain ecosystem in India. This partnership reiterates our mission to collaborate with the best and expand the ecosystem in the region,” mentioned Vignesh Raja, Director – Business Development (Middle East and South Asia), HBAR Foundation.

Muhaimin Olowoporoku

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

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