MIAMI, May 26, 2021 (GLOBE NEWSWIRE) — Touchpoint Group Holdings, Inc. (OTCQB: TGHI), a media and digital technology holding company, today announced it has signed a Memorandum of Understanding (“MOU”) with Ethernity Inc., to integrate its NFT blockchain into Touchpoint’s video streaming platform for its celebrity and influencer customers.
Per the MOU, Touchpoint will be integrating Ethernity’s non-fungible tokens (“NFT”) options into its video streaming platform for celebrity and influencer apps. By implementing the Ethereum blockchain, the 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 NFT’s into their Touchpoint Connect platform further enhancing its application that offers video live streaming, content library and merchandising to its celebrity and influencer customers.
Furthermore, NFTs or non-fungible tokens 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 the NFT marketplace platform for artists and performers to partake in this growing blockchain opportunity.
Spencer Christopher, CTO of Touchpoint, said, “This is a new era for Touchpoint, as we expand our platform into the NFT market in collaboration with Ethernity. NFT’s have reshaped the modern collectables industry and we are excited to give artists the incredible opportunity to reshape their creations in the digital world. Our vision is to have our own token and marketplace within the Touchpoint platform, with the plan to utilize our expanding network of celebrity customers to evolve the way audiences can collect and trade unique pieces of digital assets.”