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Ripple brings XRP in the music industry: Investment in Startup

Ripple brings XRP in the music industry: Investment in Startup

Home News Ripple brings XRP in the music industry: Investment in Startup

Marcel Knobloch –

Crypto-currencies penetrate into new areas of our everyday life. Ripple has invested in an American Startup, based in Santa Monica, to support the use of native Tokens, XRP, as well as the Knowledge for the further development of the project.

Ripple announced yesterday that they will support a newly established Startup, based in California, Raised in Space Enterprises, financially and XRP can play a fundamental role in the development of the company. The project was originally founded by Ithaca Holdings, and Zach Katz directed, the former CEO of the world’s third-largest music publisher BMG, which was sold in 2008 to Sony.

The Startup will work together as an investment group, to conduct “extraordinary founder in the development of innovative solutions for the music industry, from inception to market introduction”. The company headquarters can be found in the music and entertainment center of Santa Monica. This area is known for the largest record labels in the world, including Universial Music Group and Verve.

Ripple has invested his Kapitalarm Xpring in the Startup and has set itself ambitious goals. Ethan Bear, Senior Vice President of Ripple in Xpring, describes can be used in the Blockchain and crypto-currencies together to make the music industry completely new (freely translated):

We are excited about the potential of the Blockchain to solve problems in the field of entertainment – new Ways to monetize creative content to innovative models of Fan engagement that were not previously possible. In Xpring it comes to enable the best entrepreneurs, technologies such as the XRP Ledger in new and novel ways.

The establishment of the company is an important first step. Now we are curious to see how the entrepreneurs they support, new solutions will develop that can shape the music industry.

So far, there is still no exact information about how and to what extent XRP is to be used. There is no time horizon, until the first milestones are to be achieved. According to the company Raised in Space, the future Investmens between the$ 500,000 and $ 5 million will amount to.

Featured Image: Wit Olszewski | Shutterstock

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