Touchpoint Group Announces MOU with Ethernity to Integrate their NFT Product with the Touchpoint Platform
Touchpoint Group Holdings (OTCQB: TGHI) announced a Memorandum of Understanding with Ethernity Inc. to integrate NFT blockchain technology into its video streaming platform. This integration will enhance Touchpoint's offerings for celebrity and influencer customers, allowing them to authenticate digital assets using Ethereum blockchain. The move aims to capitalize on the growing trend of NFTs in the music industry, leveraging relationships with artists like Russell Simmons. The company envisions creating its own NFT marketplace within the platform.
- Integration of Ethernity's NFT technology enhances Touchpoint's platform.
- Strong growth potential in the NFT market, particularly in music.
- Reliance on consumer demand for NFTs may introduce significant risks.
- Uncertainties with execution and partnership agreements.
Touchpoint platform continues to connect fans and brands while promoting wellness in new ways during COVID-19 pandemic
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.”
About Touchpoint Group Holdings.
Touchpoint Group Holdings Inc. is a media and digital technology acquisition and software company. For more information, see http://touchpointgh.com/.
Safe Harbor Statement
This news release may contain “forward-looking” statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ from those in the forward looking-statements. Potential risks include such factors as the inability to enter into agreements with parties with whom we are in discussions, the uncertainty of consumer demand for the Company’s products, as well as additional risks and uncertainties that are identified and described in the Company’s SEC reports. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
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FAQ
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