Artifract, the Philippines’ first tokenization and fractionalization platform, has teamed up with Pinoy Rock Icon Ely Buendia to allow fans and music lovers to own a piece of the musician’s art and music through the blockchain. The partnership between Artifract, WEU Event Management Services, and Dvent Productions, will bring Buendia’s musical collection into the metaverse.
Under the collaboration, Buendia will be releasing a unique musical NFT titled “Flamed Lullaby,” with an original self-composed track titled “Hele.” The artwork for the NFT is inspired by the 2008 reunion concert of Eraserheads, where the Sticker Happy Piano was burned during their final performance of “Ang Huling El Bimbo.”
Artifract offers a platform for artists to digitize their works and democratize access to it, and this partnership will allow Buendia and other artists, brands, and creators to connect with their audiences using Artifract’s technology. The NFT will be available to no more than 1,000 owners at a base price of P50,000 per fractional NFT, with exclusive royalty rights and a printed version of the artwork, along with a certificate of authenticity.
This partnership with Artifract will allow Buendia to explore new ways of sharing his music in the metaverse and to curate an exclusive set of musical pieces for his upcoming Web3 project. Artifract, a joint venture between UBX, the leading open finance platform in the Philippines, and art-tech startup Unit 256 Ventures Inc., uses token factory technology to tokenize real-world or digital assets.
By fractionalizing an asset, it can be broken down into multiple digital grids, each of which can be owned by multiple owners. The tokens provide a trustworthy framework for tracking and settling assets, streamlining trading transactions and ensuring security for digital transactions without the need for third-party institutions or intermediaries.
Marvin Agustin, co-founder of Artifract, said, “Our users will be able to appreciate and have access to exclusive fractionalized musical arts and most importantly, they will own a piece of Ely’s musical art on the blockchain.”
