Chinese classical music
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Kuke Music to expand into the Web3.0 industry with KOLO.Market acquisition
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. has announced its acquisition of 49% of the equity of KOLO.Market as it aims to expand its business into the emerging Web3.0 industry. Kuke Music, a Chinese classical music service platform that boasts approximately 3 million audio and video music tracks, has been seeking to diversify its operations and broaden its reach beyond the traditional music industry. KOLO.Market, a Singapore-based Web3.0 company, provides a decentralized trading platform that enables digital content creators and consumers to transact directly, without the need for intermediaries. Its technology also enables the…
