A.R. Rahman, composer, producer and musician, has partnered with the US-based HBAR Foundation to create content for a new NFT music platform. The new offering will focus on India’s independent music community.
The HBAR Foundation is providing a grant and organisational support for development and growth of the NFT platform, scheduled to launch in the first quarter of 2022.
As part of the launch, A.R. Rahman will release his first-ever NFT series, with portions of the proceeds going to charity.
“We’re excited to partner with HBAR Foundation to create content, as well as support and mentor the new NFT platform, which in turn will bring more opportunities to the Indian music community,” said Rahman.
“The new platform will enable independent musical artists to release content as NFTs, interact with fans, engage with their communities and help monetise their creations,” he added.
Hedera Hashgraph has been selected for Rahman’s NFT offerings, as the organisation has the industry’s most decentralised and transparent governance model, led by the Hedera Governing Council, which ensures reliability of the network.
“The HBAR Foundation is proud to support innovative projects across the globe, and our strategic partnership with A.R. Rahman provides tremendous value to the HBAR ecosystem with its focus on the large and vibrant music community in India,” said Shayne Higdon, Executive Director and CEO at the HBAR Foundation.
“We are excited to be a part of this maiden journey of A.R. Rahman into the world of NFTs and it is an important step reflecting our commitment to build the blockchain ecosystem in India. This partnership reiterates our mission to collaborate with the best and expand the ecosystem in the region,” said Vignesh Raja, Director – Business Development (Middle East and South Asia), the HBAR Foundation.
Founded in 2021, the HBAR Foundation fuels the development of the Hedera ecosystem by providing grants and other resources to developers, start-ups and organisations that seek to launch decentralised applications in DeFi, NFTs, CBDCs, ESGs, gaming and other sectors.
In addition to providing funding through a streamlined grant process, the HBAR Foundation acts as an integrated force multiplier through expert support across technical, marketing, business development and other operational functions that are required to scale.
Since launching in 2018, the public network has processed over 2 billion transactions generated by real-world applications.
Visit HBAR Foundation here