This article discusses the NurKoin project, which aims to create a comprehensive financial ecosystem supporting the entertainment, sports, music, and art sectors.
What exactly is a NurCoin token? What was the original concept behind the project? We provide a comprehensive look at everything there is to know about it in this post, including music, art, and more.
NurKoin’s mission is to embrace all of its aspects
The NurKoin project aims to create a complete financial ecosystem that supports the entertainment, sports, music, and art sectors. NurKoin provides the opportunity to make investments via a decentralized payment portal using a decentralized peer-to-peer blockchain.
It also aspires to build a perfect society in which everyone may engage in trading on a platform that is more accountable and transparent. A platform like that provides further advantages to all users.
Modern blockchain technology is used by NurKoin, which is based on actual market needs, to provide security, independence from centralized organizations, instant transactions, and lower fees.
It satisfies the actual requirements of the fintech sector today in this way. We can also see that NurKoin has already formed alliances with companies that arrange sporting events, concerts, and music festivals across Europe and Eurasia.
In fact, a lot of businesses are holding off on accepting NurKoin until the debut. The conventional way of carrying out transactions in the worlds of art, music, culture, and entertainment is now out of date.
The risk of duplication, copyright violation, and art forgery is still too great. According to a survey done by the Fine Arts Experts Institute (FAEI) in Geneva, 50% of all pieces of art that are bought are either fakes or are credited to the wrong creator.
The recommendations include utilizing the strength of public immutability
Based on the aforementioned issues, it is clear that NurKoin wants to address them by creating a special blockchain that tracks a work of art or piece of media from the time it is created to its supply, its sale display, and eventually the registration of ownership.
Every time a fresh piece of art is produced, its author will be given credit for it. Ownership of the work will be transferred to the new buyer upon sale and recorded on the blockchain.
The objective is to provide blockchain-based art traceability, which is a way of demonstrating ownership of original works, in order to maintain the integrity of art by utilizing the power of public immutability.
The project’s goal is to merge the best aspects of the cryptocurrency and business sectors, providing the community with a fully decentralized cryptocurrency that does away with the need for middlemen and has inherent value because it is backed by investments in legitimate companies.
It’s also important to note that NurKoin is currently available on Cryptosmart.
The entry of NurKoin into music and movies
As we’ve already indicated, NurKoin is a multifaceted endeavor that seeks to encompass as many components as it can, including music and film.
Therefore, let’s focus on how its collaboration with the finest musicians in the world expands its international concert and film production events.
A new work of art is first made, and the blockchain is then updated with the artist’s information and a description of the work. Then, the artist uses a NurKoin to certify the procedure on the blockchain.
The status is updated to reflect the transfer and the registration of the parties involved in the logistical transaction on the blockchain whenever the artwork is given to a new gallery or put up for auction.
Instead, the transaction is completed by sending the equal amount in NurKoin to the auctioneer or the artist’s wallet when a new buyer wants to buy the artwork at auction or through a peer-to-peer transaction with the artist.
The owner can then resell the art if they so choose by just accepting an agreed-upon sum in NurKoin. The entire output of this operation is subsequently stored on an unchangeable blockchain, which is impervious to manipulation.
The public storage of NurKoin transactions enables buyers to readily trace the whole ownership history of the artwork. Therefore, the artwork is unquestionably a fake if the token did not come from the artist’s wallet.
