SYDNEY, Australia, December 16, 2021 (GLOBE NEWSWIRE) – Following a successful private investment and public token generation event, MODA DAO today announces a partnership with Filecoin, the leading decentralized public storage network industry, as part of their Audio NFT system aggregation.

Brought together by notary Filecoin Holon Investment Group, the partnership represents a key piece of infrastructure for the future of the music industry, something MODA DAO calls “Music3”. The partnership begins with the supply of a dedicated IPFS gateway and a decentralized backup cold storage petabyte; Enough storage to stream MP3 quality music for over 2000 years non-stop.

Unlike centralized storage, which is data stored in a central location or in multiple locations but under the same umbrella company, decentralized storage is a peer-to-peer network of user-operators who own a portion of the aggregate data. Decentralized storage is essential because it prevents an overall organization from having full control over a creator’s data. This partnership is extremely important for MODA DAO because it will provide an artist with the freedom to disseminate their music and content without a central power having full or partial ownership of their creative ideas.

The partnership between MODA DAO and Filecoin will provide a wealth of opportunities for all parties involved. MODA DAO divides the storage among artists who have chosen to venture into the Music3 universe and gives them some of the storage as part of their ongoing work with DAO. This approach will give artists the ability to store their data (music, NFT, tour plans, exclusive content) natively on the blockchain, without a conglomerate having control.

“As someone who has worked in the blockchain / music intersection for over four years, we have been studying IPFS and decentralized storage for a long time,” said Sean Gardner, co-founder of MODA DAO. “The Filecoin network now, alongside the rise of NFTs in the creator economy, means the storage network is not just a fun part, but a vital part of the ecosystem. We could see the end of centralized distribution services within ten years. “

Filecoin recently partnered with Holon Investments, IPFS and MODA DAO for the Innovate 2021 hackathon. The main theme is that developers create a beautiful UX and natively integrate it with IPFS / Filecoin storage using Web3 networks such as as NEAR, Polygon, Flow smart contracts and / or Chainlink oracles. This is part of Filecoin’s outreach to a global community of developers, entrepreneurs, storage vendors, storage customers and business leaders with the aim of raising awareness about the product and their desire for a decentralized future. MODA DAO is offering an additional prize of $ 5,000 for the best submission in the music industry. You can find out more about the Holon Hackathon here.

Filecoin will be the key to unlocking the power of NFTs – something that is quickly becoming a big part of the careers of creators. Musical artist ‘3LAU’ made around $ 11.7 million in his first NFT sale in early 2021 and Beeple, a digital artist with over 13 years of experience, managed to sell a single NFT for 69 million dollars, propelling him into the top three Most Valuable Lives. artists. With this in mind, MODA is building a cross-chain NFT aggregator that will natively integrate with MODA DAO and launch partner Emanate. The technology will allow an artist to create NFTs for their fans or superfans. The NFT aggregator will be channel independent, so a fan can connect any wallet from their favorite blockchain to the Emanate app and stream their NFT music seamlessly.

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About MODA DAO
MODA DAO is a decentralized technology network and community. Designed for the metaverse and the age of gaming to win, MODA is dedicated to the adoption of Web3 in the music industry via NFT, micro-licensing, DAO governance and DeFi.

About Sean Gardner
Sean is an award-winning creative technologist and entrepreneur. Working between media, art, and technology for over a decade, he spent four years at the intersection of blockchain and music. Sean’s passion for music was passed on to him from his mother; Isabella Miller Bell, revered folk singer and songwriter of Scottish descent and based in New Zealand.