Upstream to take digital collectibles to the billion dollar mark  Global vinyl record market
NEW YORK, NY/ACCESSWIRE/June 15, 2022/ Upstream, the revolutionary digital securities and NFT exchange powered by Horizon Fintex (Horizon) and MERJ Exchange Limited, today announced that world-renowned hip-hop music and merchandising company Ruffnation Entertainment has joined Upstream to bring the authenticity of blockchain and Web 3.0 experiences to the resurgent vinyl record community. Ruffnation aims to integrate digital collectibles (NFTs) into their vinyl sales strategies by creating a vinyl collectors showcase to connect the physical collectors community with the digital collectors community using the carbon-neutral and user-friendly exchange from Upstream.
Ruffnation Records, founded in 1999 by Chris Schwartz, is the pioneering hip-hop label that discovered Cypress Hill, Nas, the Fugees, DMX, Lauryn Hill and other major hip-hop artists. Ruffnation has sold over 189 million records worldwide, generating over $1 billion in sales and a host of Grammy Awards. Schwartz, CEO and Founder, has received numerous awards, including the Governor’s Award from the National Academy of Recording Arts & Science. The company currently focuses on the manufacture, distribution and sale of vinyl.
By partnering with Upstream, Ruffnation aims to bring blockchain-enhanced authenticity to the vinyl record collecting community. Through Ruffnation’s existing collection and its recently signed deal with independent music company MNRK Entertainment, Upstream has access to world-class music creators who now have access to Upstream’s NFT creation tools.
Vinyl collectors can expect to experience Upstream’s unique NFT integrations, including geo-fenced NFTs available within a certain numerical limit, promotional NFTs, and commemorative audio NFTs to collect alongside physical vinyl records. Fans on Upstream can seamlessly purchase NFTs using PayPal, debit, credit, USDC digital currency, and traditional bank payments. Upstream is 100% carbon neutral and does not charge gas fees to users.
“The global vinyl sales market shows no signs of slowing down, the trajectory will continue to gain momentum as more pressing plants come online,” said Chris Schwartz, CEO and Founder of Ruffnation. “As a leading supplier of vinyl records and in partnership with a state-of-the-art vinyl pressing facility specializing in audiophile-grade records, we know the importance of authentication and are excited to work with Upstream to introduce immutable ownership records along with a unique way for collectors to engage with their records through collectible digital NFTs.”
“NFTs are quickly becoming another facet of the collecting community,” says Upstream co-founder Mark Elenowitz. “NFTs tied to collectible vinyl records act not only as a certificate of authenticity, but as an immutable record when it changes hands. We believe the addition of NFTs to vinyl records provides a natural and welcome vertical.”
According to Schwartz, “Authenticity and chain of title will motivate collectors to keep their transactions recorded on the blockchain, as it enhances the value of the actual vinyl collectible. Blockchains are irrefutable, tamper-proof, and incorruptible. From the blockchain-verified initial offer to transactions ordered every time a recorded collectible vinyl is sold, real-world blockchain applications provide a whole new channel of distribution revenue for the artist and label outside of physical sales and The marketing and distribution offered by blockchain integration is an integral part of Ruffnation’s Vinyl Subscription and Specialty Interest Retail initiative set to launch this fall.
Ruffnation joins Upstream’s growing ecosystem that includes sports, music and entertainment heavyweights including NFL Hall of Famer Edgerrin James, NFL Hall of Famer Dominique Wilkins the NBA, BRON Studios, etc. Interested parties can learn more about https://upstream.exchange/ or join the team at [email protected].
Ruffnation Entertainment is a Philadelphia-based manufacturing, marketing, sales and distribution company that sells vinyl records, apparel and merchandising. The company is an offshoot of the legendary Ruffhouse Records, a Hip-Hop label founded in the late 80s that became one of the founding labels of Hip-hop with artists such as Ms.Lauryn Hill, The Fugees, Cypress Hill , Nas , DMX, Kris Kross and others. Learn more about https://ruffnationentertainment.com/.
Upstream, an MERJ exchange, is a regulated global exchange for digital securities. The exchange is powered by a carbon-neutral layer 2 Ethereum blockchain for NFTs and securities issuance with an NFT auction and securities matching engine. Users can securely trade NFTs, digital securities, fractional securities, IPOs, crowdfunding companies, in the US and internationally. celebrity stocks and businesses: https://upstream.exchange. Interested NFTs or securities issuers can reach us at [email protected].
Horizon is a fintech company that builds and powers global securities exchanges with an integrated suite of software for the issuance, management and secondary trading of compliant securities. Horizon feeds the Upstream. Their in-house solutions combine Wall Street and Silicon Valley to power the next generation of securities offerings and transactions in the United States and around the world. Learn more about https://www.horizonfintex.com/.
About the MERJ:
MERJ Exchange (MERJ) operates upstream as a fully regulated and licensed integrated securities exchange, clearing system and depository for digital and non-digital securities. MERJ is a subsidiary of the World Federation of Exchanges (WFE), recognized by HM Revenue and Customs UK, a full member of the Association of National Numbering Agencies (ANNA) and an eligible foreign exchange for OTC markets in the United States . MERJ is also a member of the Sustainable Stock Exchanges Initiative.
This press release does not constitute an offer to sell securities or the solicitation of an offer to buy securities in any jurisdiction where such offer or solicitation is not authorized.
*NFTs received have no economic value, royalties, equity or dividends. NFTs are for utility, collection and display only.
*US investors are not permitted to trade in upstream listed securities. US and Canadian citizens will only be able to trade securities they currently own that are listed upstream for liquidation only.
THE SOURCE: Horizon Globex GmbH
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