KUKE - Kuke Music establishes blockchain business unit; makes strategic investment music-focused NFT platform

Classical music service platform Kuke Music (NYSE:KUKE) has established a blockchain business unit. The new unit will leverage blockchain technology to validate, authorize and protect digital music copyrights. Kuke also announced a strategic investment in a classical music-focused NFT platform, called KOLO. The investment will further enable the development of a classical music-focused and global NFT application in the Metaverse. Using the classical music copyright resources of Kuke and its strategic global business partner Naxos, the NFT application will further enhance the transaction liquidity, platform interoperability and ease of sharing of digital music assets. KOLO plans to release new NFTs licensed by Naxos and Kuke on a weekly basis starting mid-Feb. 2022. The platform has auctioned four NFTs within the past month, namely, Spring Festival Overture, Brahms- Violin Concerto in D Major, Op.77, and J.S.BACH – Cello Suite No.1, BWV 1007, as well as Beethoven- Piano Sonata No.14 in C-

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Kuke Music establishes blockchain business unit; makes strategic investment music-focused NFT platform