[Blockchain Today Correspondent Han Ji-hye] The global music industry Miracle Project (MIRAQLE) announced on the 21st that the transition from the existing ERC20 token to Kakao’s blockchain platform Klaytn mainnet is imminent.
Miracle, which will join the Klaytn ecosystem operated by Kakao affiliates, said, “We are increasing the convenience of users while expanding the ecosystem and expanding our business area with domestic large media and entertainment partners.”
◆Klayth
Klaytn is a blockchain platform of Ground X, a blockchain technology affiliate of Kakao. We are creating a smooth Klaytn ecosystem by operating various blockchain-based services such as Klaytn-based DeFi service Klayswap and block chain wallet clip. Based on the much faster speed and lower fees than Ethereum and the credibility of the Kakao brand, Kakao affiliates, LG Electronics, Shinhan Bank, and Netmarble are joining the governance council. Somesing (SSX) and BORA are representative Klaytn DApps listed on Upbit (UPBIT), the No. 1 exchange in Korea.
The Miracle Project
With the motto of creating a global music world centered on fans, Miracle proposes a ‘Technology+Entertainment’ platform that combines blockchain technology with the global music industry.
Through the platform provided by Miracle, which has a variety of music contents in the entertainment industry, fans can directly obtain voting qualifications, plan directly for the production of albums and performances, etc. ‘Tencent Entertainment’ and ‘7six9 Entertainment’, a professional producer of global collaboration albums, will produce an album.
Reliability due to collaboration with global entertainment groups
Tencent Music Entertainment (TME), which produces albums, is undoubtedly the best entertainment group in China. As an entertainment group under the Tencent Group, it is listed on the New York Stock Exchange. Tencent (腾讯, Tencent) is China’s largest comprehensive Internet company, the world’s largest video game company by revenue, and the largest market capitalization company in Asia.
In addition, along with Alibaba Group, it is running two tops among large private enterprises in China. It is famous for providing services such as QQ Messenger, the Chinese version of NateOn in the IT industry, and WeChat and WeChat Pay, the Chinese versions of KakaoTalk. QQ Music, Cougar Music, and Kuwo Music owned by TME are the 1st and 3rd largest companies in the Chinese music market, and are the companies with the strongest influence in China in all entertainment fields, such as broadcasting and video, as well as music.
In the first quarter of 2022, it is scheduled to be listed on a large domestic exchange.
In addition, an official from Miracle (MQL) said that the transition to the Kakao block chain Klayth has great implications, and is preparing to allow domestic users to easily trade in KRW. It has been prepared so that music fans all over the world will soon be able to meet Miracle more comfortably and easily.
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