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Algorand Launches 4 Million NFT to Support SIAE Author’s Rights

  • Algorand and SIAE created a blockchain project to support author’s rights
  • Moreover, SIAE launches over 4 million NFT that represent over 95000 of its author’s rights

Blockchain network Algorand together with Società Italiana degli Autori ed Editori (SIAE), created a project that supports the author’s rights. To be specific, SIAE, with the help of Algorand’s blockchain, will use Non Fungible Tokens (NFT) technology to protect the author’s rights end-to-end.

Consequently, it protects the author’s rights to the highest level of security.

Recently, SIAE released over 4 million NFT to represent the rights of more than 95,0000 of its members. Particularly, the Algorand network leads the production of NFT using its blockchain technology. Indeed, a milestone that would be remembered by SIAE members over and over. Above all, NFT’s enable author’s to eliminate all of their worries in terms of royalty transparencies and copyrights.

This made the General Manager of SIAE, Gaetano Blandini react, he said:

We are not interested in building technological infrastructures to generate profit. Instead, our goal has been and always will be to create value addition for our members”.

Furthermore, Algorand and SIAE have been in good terms since 2019. As a result, the two organizations created a blockchain technology that aids the long-time challenges of authors. Indeed, this is a work of art that provides value to all the author’s hard work globally.

Interestingly, NFT is increasing its popularity in and out of the crypto world. In other words, more organizations today are acknowledging the power that the crypto space brings. Indeed, this is an achievement in the world of cryptocurrency.

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Jay Manila

A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.

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