[PRESS RELEASE – Singapore, Asia, August 9th, 2024]
Elacity is partnering with Particle Network and BeatFarm to create a more intuitive and accessible way for music superfans to interact with their favorite artists using decentralized technology. This collaboration aims to simplify access and exchange of content within the music industry.
By integrating Particle Network’s Wallet Abstraction stack with Elacity’s platform, users will enjoy a simple onboarding experience. Furthermore, since Particle Network has set to enable chain abstraction across the industry through its Universal Accounts, this integration will enable its users to eventually have a borderless Web3 experience.
Elacity’s implementation of the Elastos SmartWeb ensures that key aspects such as tokenization, data ownership, and equitable sharing are central to the user experience. BeatFarm will leverage this development to offer superfans exclusive content and new monetization opportunities within a streamlined framework.
Sasha Mitchell, CEO, Elacity commented: “We are bringing inclusive markets and new business models to Web3, such as buy-now, subscription, and royalty opportunities globally. Despite these innovations, we must simplify the user experience by hiding blockchain complexity for ease of use. After extensive research for dDRMv2, we identified Particle Network as the best option. We are very happy to be working with them to enable Web2 login, gasless minting, asset availability across any blockchain, and a payment system with blockchain efficiency and governance under the hood for our platform.”
Pengyu Wang, CEO, Particle Network commented: “This partnership marks a significant step forward for Web3 adoption. As users transition from early adopters to more mainstream adopters, it is crucial to bring Chain Abstraction closer to everyone. Starting with our Smart Wallet, user’s onboarding and accessibility to Elacity’s platform are significantly improved and simplified. As we further deploy chain abstraction infrastructure (Universal Accounts), we aim to eliminate all UX complexities, allowing users to seamlessly access decentralized applications on any chain. With this, we are happy to work with Elacity implement chain abstraction across the industry.”
Building on this foundation, BeatFarm aims to leverage Web3 technology to establish trust and connection between superfans and artists. By creating a social platform with rich content and interactive features, BeatFarm seeks to energize artist careers and enhance fan involvement. This model challenges the traditional Web2 system, which often benefits only a few dominant artists, and aims to distribute rewards more equitably across the industry, discovering and nurturing new talent in collaboration with their fan base.
To tie it all together, Particle Network’s role is crucial in making the Web3 experience more accessible and intuitive through chain abstraction. This simplicity in user experience is expected to transform how content is exchanged and monetized in the music industry.
About Elacity
Elacity transforms digital asset management with “Digital Capsules”— encrypted digital assets on decentralized networks. These capsules offer secure playback and tradable access, distribution, and royalty rights via blockchain technology, enabling creators to monetize assets globally. This secure, transparent, and fair model disrupts traditional Digital Rights Management systems.
For more information, please go to: https://docs.ela.city/
About BeatFarm
BeatFarm is a Web3 music distribution platform that enables artists to mint and inscribe their music onto multiple blockchains simultaneously, while also connecting directly with their superfans. BeatFarm aims to democratize music distribution by leveraging blockchain technology to provide artists with unprecedented control over their work and direct access to their fans.
For more information, please go to: https://beatfarm.io/
About Particle Network
Particle Network is addressing Web3’s fragmentation of users and liquidity through Universal Accounts. Particle’s chain abstraction is powered by a Cosmos SDK L1 blockchain enabling the experience of a single account, balance, and address that can be used across all chains, allowing users to interact with any dApp and pay gas with any token.
For more information, please go to: https://particle.network/
