1. QiAi QuestsHome
  2. Metaverse & Beyond

Kuke Music to Expand its Footprint in the Web3.0 Space with the Acquisition of KOLO.Market

• Metaverse & Beyond • 84 views

Kuke Music to Expand its Footprint in the Web3.0 Space with the Acquisition of KOLO.Market

According to official news, Kuke Music Holding Co., Ltd. (hereinafter referred to as “Kuke” and “Kuke Music”) (New York Stock Exchange: KUKE), a Chinese classical music service platform with about 3 million audio and video music tracks, announced that it would acquire 49% of the equity of KOLO.Market, a Singapore-based Web3.0 company.

Web3.0 classical music platform KOLO.Market completed the first round of equity financing

Analysis based on this information:


Kuke Music Holding Co., Ltd., a New York Stock Exchange-listed Chinese classical music service platform, has announced its plan to acquire 49% of the equity of KOLO.Market, a Singapore-based Web3.0 company. The acquisition is a strategic move by Kuke Music to expand its footprint in the emerging Web3.0 space and diversify its portfolio of services.

KOLO.Market is a decentralized platform that leverages blockchain technology to create a new kind of digital marketplace. It is designed to enable secure and transparent trading of digital assets, such as non-fungible tokens (NFTs), digital art, and other unique products. The platform is built on top of the Ethereum blockchain, and aims to provide a decentralized, peer-to-peer trading experience.

By acquiring a stake in KOLO.Market, Kuke Music is positioning itself as a player in the Web3.0 space, which is expected to be the next frontier in the evolution of the internet. Web3.0, also known as the decentralized web, is a vision of the internet that is more open, transparent, and decentralized than the current web. It is characterized by the use of blockchain, peer-to-peer networks, and other decentralized technologies to create a more secure and resilient online ecosystem.

Kuke Music’s acquisition of KOLO.Market also aligns with the company’s strategy of diversifying its services beyond classical music. With about 3 million audio and video music tracks, Kuke Music is one of the leading players in the Chinese classical music market. However, the company has been exploring new business opportunities and revenue streams in recent years. For example, it has launched a livestreaming platform for classical music performances, and has also ventured into the production and distribution of original music content.

The equity acquisition of KOLO.Market is expected to enhance Kuke Music’s digital capabilities and provide new growth opportunities. It will also enable the company to tap into the potential of the Web3.0 market, which is still in its early stages but has a lot of potential for innovation and growth.

In conclusion, Kuke Music’s acquisition of KOLO.Market is a strategic move that positions the company as a player in the emerging Web3.0 space. It is also a step towards diversifying the company’s portfolio of services and exploring new business opportunities beyond classical music. With the potential of the Web3.0 market, Kuke Music is primed for growth and innovation in the digital space.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/metaverse/7323.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/14/2023 11:40
Next 03/14/2023 11:50

Related recommendations