Toronto, June, 2021: HUP.LIFE, the creator of the world’s first marketplace for trading copyright-enabled NFTs, has partnered with ETHO.Black, developer of Etho Protocol, a file hosting system that allows content to be pinned around the world on the blockchain.
The partnership enables HUP.LIFE to host NFTs in preparation for the December 2021 unveiling of HUP.MARKET and comes after the fair launch of $HUP Token, the platform’s native token.
On its path to becoming a reliable marketplace for exchanging digital assets, the emerging and rapidly growing NFT industry faces serious challenges in its unstable foundations. A lack of decentralized trading platforms that comply with international legal standards prevents the market from reaching its full potential. With legal and regulatory compliance already in its wheelhouse, HUP.LIFE makes another leap toward bringing legal clarity to the NFT market through this partnership with ETHO.Black. The partnership lays the framework for the launch of the first-ever NFT platform that also allows digital artists and traders to own the copyright of the work they are trading as an NFT.
Artists who mint their works as NFTs on HUP.MARKET will be able to validate the work and fully monetize it through internationally enforceable copyright. The project has also invented the concept of the “Ghost NFT,” a secondary NFT representing the transfer of the full bundle of copyright of an artwork underlying an NFT. Artists can also sell the NFT while retaining the copyright (resulting in the Ghost NFT staying with the artist) and license it for reproduction or broadcast to interested third parties on a timed basis using HUP.MARKET’s planned Licensing Module.
Etho Protocol (ETHO) is a fork of the Ethereum blockchain that delivers reliable content hosting on the InterPlanetary File System (IPFS), enabling digital assets on HUP.MARKET to be pinned around the world. Through this partnership, ETHO will serve as the official file hosting solution of HUP.MARKET, hosting all data linked in the token URL of NFTs on the platform, including the metadata, JSON file, and the image or video file of the artwork.
ETHO will also host HUP.MARKET’s Ghost NFTs. This agreement ensures these assets are hosted with globally accessible links and metadata on ETHO’s fully decentralized platform.
“We are thrilled to be partnering with HUP.LIFE and eagerly anticipate the launch of HUP.MARKET,” says Chris Terry, Director of Business Development, Etho protocol Project. “The full force of Etho Protocol’s IPFS network will provide stability and security to the world’s first globally compliant NFT trading platform.”
“As with the launch of $HUP Token, this strategic alliance demonstrates our commitment to ensuring that HUP.MARKET has an ethical and dependable backbone,” says Harrison Jordan, CEO and Founder of HUP.LIFE. “With its emphasis on security, reliability, and decentralization, Etho Protocol is the perfect match to host the variety of content that will be featured on HUP.MARKET.”
HUP.LIFE is a blockchain-based, community-governed project that strives to empower artists and collectors to fully monetize their art NFTs through the power of internationally enforceable copyright. With the ethos of social consciousness at the core of its mission, HUP.LIFE and its HUP.MARKET NFT platform are paving the way for visual artists and collectors to take control and fully monetize their NFTs by selling and licensing the copyright of the underlying artwork throughout countries around the world.
About Etho Protocol
Etho Protocol is an open-source platform that empowers users to share and publish data freely on its peer-to-peer network. The community-governed protocol provides a fully decentralized hosting solution that is fault-tolerant and secure. The Etho Protocol also includes smart-contract management structures for blockchain, financial, and decentralized data operations.