Juggernaut Becomes Official NFT Partner With Asia Television Limited

Juggernaut seals the deal as the strategic and exclusive partner to ATV, an award winning broadcasting company for the creation of ATV NFTs.

NFTs on Miss Asia Pageant Collection

Asia Television Holdings Limited (ATV)  announced its partnership with Juggernaut to launch Non-Fungible Tokens (NFT) based Intellectual Property rights for its Miss Asia Pageant Collection and other events. 

In the announcement from August 19, ATV Cultural, a wholly-owned subsidiary of ATV Holdings Holdings Limited, will be granting an exclusive partnership to Juggernaut to mint NFTs that contain its Intellectual Property (IP) rights.

“​​ATV Cultural will provide the intellectual property rights (the “IP Rights”) of TV shows including, without limitation, Miss Asia Pageant of Asia Television, and other marketing materials to make certain NFTs of such IP Rights,” read the press release.

ATV Cultural holds the proprietary rights to a successful pageant competition that spans across the continent of Asia. This partnership will be a huge boost to Juggernaut as it forays into the Asia market. ATV is a publicly listed company media company that has been actively involved in exploring new technology and has a dedicated section to blockchain on its streaming platform.  

In the collaboration, the parties will promote ATV’s NFTs that are bundled with IP rights that include photos and videos from the Miss Asia Collection. All revenue generated from the NFTs will be shared. The duration of this partnership will be for a year. 

‍Juggernaut is a Decentralized Finance (DeFi) platform that believes DeFi is more than pure finance. It ventures into real-life financial use-cases and abstraction of all assets and innovations. It is a unique ecosystem that aspires to make DeFi and NFT accessible and simple for all.  

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Asia Warming Up to NFTs

The current craze has shown the world that NFTs have a significant role to play in crypto. Many critics have leveled scathing remarks that the NFT market is nothing more than trading JPEGs with no inherent value. But the new assets have a more dynamic role to play apart from just creating collectibles. 

Apart from its use case of proving ownership and originality, NFTs are used to verify the authenticity of assets. With the right contract, it can even grant ownership to an underlying asset. This underlying asset can also bundle intellectual property rights such as copyrights, trademarks, land, or patents. 

Alibaba Group, the giant e-commerce company, has recently established a new NFT marketplace that allows intellectual rights holders to sell tokenized licenses. The service is called ‘Blockchain Digital Copyright and Asset Trade.’ 

Asia is now warming up to empower this new asset class as a tradeable commodity. Unlike most NFT projects, video clips, trading cards, or artwork images are often sold without intellectual property rights. The trend in the East seems to be moving differently. 

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Revolutionizing an Asset Class 

The collaboration between Juggernaut and ATV holds some exciting insight into the future for content creators. An independent filmmaker can sell IP rights to a future movie project through NFTs. Investors can participate in fractionalized interest by purchasing these tokens. This paradigm shift empowers both the creator and the investor alike. 

NFTs will be an interesting sector to watch. It fits a value proposition, and it empowers content creation through the comprehensive protection of IP rights. Although many NFTs are sold without providing details of the underlying rights, this will soon change. Investors will have to familiarize themselves with the idea that some NFTs can be detached from IP rights while others may grant some IP rights.

Juggernaut opens the door for the world to consider NFTs as an asset class and a tradable commodity. It managed to secure an investment from a $100 million fund in March 2021 to build its project on Binance Smart Chain, and it aspires to transform itself as a go-to BSC NFT Exchange. With the right partnership, Juggernaut may have much more to offer in the future.    

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Source : bsc.news