The utility of the Groovy token begins to show face.

After releasing NFTs using Rarible with great success, the time to move towards our own platform begins.

With all members of the team dealing with corona related issues, the last 2 weeks have been quiet. Alas, we are all now back in the country and you will be able to see we have started to update the website. You can now check your balance using Metamask and the ability to spend GVY will be active at the end of the week.

We have been preparing a roster of artists, none of which will be released under pseudonyms. We hope this with a PR campaign will get us going on the route we would like and some great publicity. We will use our multisig contracting software with all of the artists and ask them for feedback. As this has never been done before, it sure is going to be interesting.

The platform we have created for creating collaborative music contracts is currently very close to being finished. Unfortunately because of Ethereum gas prices, it just won’t function for low priced digital items (i.e. MP3 records which may be 5–10USD. ETH2 will change this but we have some other ideas going forward and will soon be sharing them with you.

So buckle up and we hope you like the artists we have coming!

All the best.

Simon

A platform for redeemable NFTs as vinyl records.