Kuke Music acquires 49% equity of Singapore-based Web3.0 company
According to official news, Kuke Music Holding Co., Ltd. (hereinafter referred to as \”Kuke\” and \”Kuke Music\”) (New York Stock Exchange: KUKE), a Chinese classic
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 Chinese classical music service platform, has announced that it will acquire 49% of the equity of Singapore-based Web3.0 company, KOLO.Market. Kuke Music has around three million audio and video music tracks available on its platform and after this acquisition, it plans to expand its services further. The move is expected to aid Kuke’s growth and expansion into the Web3.0 industry.
The Web3.0 industry is a decentralized internet that is built on the foundation of blockchain technology. It provides greater security, transparency and user control over data. KOLO.Market is a company that specializes in building decentralized applications and infrastructure on the blockchain.
This acquisition is significant for Kuke Music as it places the company in a strong position in the Web3.0 market, which is expected to grow rapidly in the coming years. Kuke’s ability to leverage KOLO.Market’s expertise in blockchain technology can create a unique value proposition for its customers.
The acquisition of KOLO.Market will also provide Kuke with access to new markets and customers. KOLO.Market has a global reach and it can help Kuke to expand its services internationally. Additionally, Kuke can tap into KOLO.Market’s existing customer base and offer its music services to them.
Furthermore, this acquisition is also a strategic move by Kuke Music to diversify its business. Kuke started as a classical music service, but with the acquisition of KOLO.Market, it now has a presence in the Web3.0 industry. This diversification can help Kuke to mitigate risks and optimize its revenue streams.
In conclusion, Kuke Music’s acquisition of 49% of the equity of KOLO.Market is a significant move in the Web3.0 industry. The acquisition can help Kuke to expand its services, access new markets, and diversify its business. With this acquisition, Kuke is positioning itself for future growth and success.
Keywords:
Kuke Music, KOLO.Market, Web3.0, acquisition, expansion
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