Datavault Holdings Partners with Stemit to Launch NFT Marketplace and Exchange
May 16, 2022
In what would be a recent event, Popular technology company Datavault Holdings announced that it has partnered with a popular music company, Stemit to launch an NFT marketplace and exchange.
This marketplace will give various music artists out there the opportunity to convert their lyrics to music NFTs and in turn gain value for them.
While the NFT marketplace gives opportunities to music artists across all genres to make music NFTs, the exchange launched by Datavault Holdings and Stemit provides an avenue for these same artists to have special digital collectibles for fans of their music.
Also, it serves as an alternative means of revenue generation for artists who are willing to embrace the concepts of NFTs, metaverse, and the benefits that come with it.
Moving on, Stemit helps convert lyrics into NFTs by dissecting the lyrics into various parts to create multiple assets from the lyrics.
Stemit NFT exchange will also help to convert music data into NFT assets that would be viable for buying, selling, and trading.
In addition, Data Vault will help to secure these assets to ensure that music artists get control of them so that they can utilize financially to the maximum the various revenue streams that come with their digital assets.
Stemit Founder and CEO Joshua Kaplan had this to say:
We are thrilled to be working with Datavault, as our partnership with Datavault’s cloud-based, crypto-technology will empower artists and labels through each of these platforms with modern-day, data-backed solutions that benefit both labels and music creators’ bottom lines.
We’ve realized that stems are now a predominant focus of labels as they have begun to value their importance as part of a deployable catalog of assets.
It is important to note though that not all labels have stems that can enable them to take advantage of the growing benefits that come with a music synchronization.
However, Stemit and other companies are making plans to utilize ADIO’s patented data-over-sound technology to inject asset identifiers into audio NFTs, providing a new secure layer of rights protection and asset tracking with enhanced cybersecurity features.
Datavault Co-founder Nathaniel Bradley made mentioned that Datavault has prioritized cybersecurity first within its patented platform and protecting data content objects and media files for creators are paramount in their execution.
He also went on to say that “Stemit has mastered the ability to isolate, pair and parse musical content in a way that fosters creativity and maximizes the financial yield derived from music assets.
We are excited about the impact that our combined technologies will have in this marketplace.”
Datavault, through its partnership with Stemit, will enable artists with the tools to create unique digital stories through NFTs and access the vast opportunity within the metaverse.
These partnerships illustrate the growing democratization of data assets to the benefit of the artist and labels in the next iteration of the Internet, Web 3.0, where decentralization and user autonomy will take precedence.
With Datavault Holdings and Stemit setting the pace, it is believed that soon enough, other companies and organizations would begin to take advantage of similar opportunities.
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