What is the NurKoin token? What is the idea behind the project as of its founding? In this article we offer an in-depth look at everything there is to know about it, including music, art and more.
The idea behind NurKoin: embracing multiple facets
The NurKoin project strives to develop a comprehensive financial ecosystem that promotes the art, culture, music, entertainment, and sports industries.
Using a decentralized peer-to-peer blockchain, NurKoin offers the possibility of making investments through a decentralized payment portal.
It also aims to create an ideal world in which all individuals can participate in trading and trading through the use of a more transparent and accountable platform. Such a platform offers additional benefits for every user involved.
NurKoin is based on real market needs and uses state-of-the-art blockchain technology to ensure security, independence from centralized organizations, instant transactions, and lower fees.
In this way, it meets the actual needs of today’s fintech industry. We also see that NurKoin has already established partnerships with organizers of music events, concerts, and sporting events throughout Europe and the Eurasian region.
In fact, numerous outlets are waiting for the official launch to accept NurKoin as a form of payment. Nowadays, the traditional method of performing transactions in the fields of art, music, culture and entertainment is obsolete.
The risk of replication, copyright infringement and counterfeiting of artworks remains too high. In fact, a study conducted by the Fine Arts Experts Institute (FAEI) in Geneva found that 50% of all artworks purchased are counterfeited or attributed to the wrong artist.
The solutions offered: making use of the power of public immutability
We see that, based on the above problems, NurKoin proposes to offer a solution to them by developing a dedicated blockchain that traces the path of an artwork or media from the moment of its creation to its supply, its display for sale, and finally the registration of ownership.
Whenever a new work of art is created, its ownership will be attributed to the creator. When the work is sold to a new buyer, ownership will be transferred to the new buyer and registered on the blockchain.
The goal is to use the power of public immutability to preserve the integrity of art by providing blockchain-based art traceability, which is a method of proving ownership of original creations.
Thus, the aim of the project is to unite the best of the cryptocurrency and business worlds, offering the community a truly decentralized cryptocurrency that eliminates the role of intermediaries and has intrinsic value, being backed by investments in real businesses.
Furthermore, it is worth mentioning that NurKoin is currently listed on Cryptosmart.
NurKoin’s expansion into film and music
As we have already mentioned, NurKoin is a versatile project that aims to embrace as many facets as possible, among them we also find music and cinema.
Hence, let’s look specifically at how its international expansion of concerts and film production events works, in collaboration with the world’s greatest artists.
First, a new artwork is created and the details of the artist along with the description of the art piece are recorded on the blockchain. Then, the artist certifies the process on the blockchain using a NurKoin.
When the artwork is transferred to a new art gallery or submitted for auction, the status is changed to record the transfer and the registration of the person involved in the logistical transaction on the blockchain.
Instead, when a new buyer wishes to purchase the artwork at auction or through a peer-to-peer transaction with the artist, the transaction is done by sending the corresponding value in NurKoin to the auctioneer or the artist’s wallet.
Later, if the owner wishes to resell the work, he or she can do so simply by receiving an agreed value in NurKoin. All data from this process is then recorded on an immutable blockchain that cannot be altered or manipulated.
NurKoin transactions are stored publicly, allowing buyers to easily track the entire ownership history of the artwork. It follows that if the token does not originate from the artist’s wallet, the artwork is definitely a fake.
