Ibiza enters the NFT world thanks to the partnership between Ibiza Token and Freeverse.io

Ibiza enters the NFT world thanks to the partnership between Ibiza Token and Freeverse.io

Alun Evans

Aug 09

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Ibiza’s first NFT marketplace supports island-based content creators and businesses, by connecting local excellence to a global audience of Ibiza lovers.

Ibiza, Spain, 6th August, 2021 - Ibiza Token, Ibiza’s first Decentralised Application, and Barcelona-based tech company Freeverse.io today announced they are partnering to develop the first NFT marketplace dedicated to Ibiza-based artists and brands, introducing the next generation of NFTs, called “Living Assets”, to the island and its community.

Ibiza Token was born with the purpose of making Ibiza a truly sustainable place, leveraging the potential of blockchain technology to find a new balance between economic development and enhancement of local excellence and heritage of the island. Staying true to its purpose, Ibiza Token’s NFT marketplace will provide a solution to all those content creators who have not yet had the chance to get proper exposure, earn fair incomes and receive a guarantee of transparency regarding their intellectual property and royalties agreements.

“Our vision is to globally promote the essence of the island and its lifestyle, and the NFT marketplace will support local businesses” commented Remo Frisina, CEO and co-founder of Ibiza Token. “New and iconic brands, artisan workshops, traditional shops, businesses with ancient traditions that are part of the cultural heritage; all will be able to create their own digital collections by including special benefits, such as promotions and collaborating with local artists on limited edition series”.

NFTs (Non-Fungible Tokens) are digital items that can be traded freely by users, using blockchain technology to guarantee their ownership. While NFTs have seen a boom in 2021, critics of the technology say that their value is based purely on speculation, and that the energy used to create them is bad for the environment. To address these issues, Ibiza’s NFT marketplace is being built with the green “Living Asset” technology provided by Freeverse.io. Unlike regular NFT’s, Living Assets can evolve and change based on how they are used, and updated to reflect changes in the real-world assets they are based on; which means that their value is based on more than simply their rarity. Furthermore, Freeverse’s technology makes Living Assets more eco-friendly than traditional NFTs by a factor of one million.

In order to give added value to the NFTs and to build a bridge between the digital and physical worlds, Ibiza’s NFT marketplace will feature NFTs born from the collaboration between artists and local businesses, that will give access to a series of extra content such as Augmented Reality games, experiential events and special deals across the local tourism establishments and retailers. In addition to this, users will be able to buy artists’ limited editions NFTs connected to physical items, and receive both of them to enjoy a unique interactive experience.

The Ibiza’s NFT Marketplace represents a concrete commitment to support and promote the local content creators and business community, and it’s a key milestone of the global Ibiza Token project as it is the result of a strategic partnership between two Spanish start-ups that believe in the power of technology to build the future and share the same values.

Following Ibiza Token’s roadmap, the new NFT marketplace will be launched at the beginning of Q4, featuring a selected range of artist digital creations, and planning a growing number of drops from week to week.

About Ibiza Token

Ibiza Token is a decentralized application created expressly for the island of Ibiza. Ibiza Token (IBZ) aims to connect local businesses and content creators to a wider audience to enhance the island’s excellence and create a sustainable ecosystem. Liquidity pools, farming contracts and, AMMs alongside the benefit of a series of incentives within transactions with local businesses are some of the key features encompassed by Ibiza Token which will also enrich the holders’ experience by discovering music and art from the island through the first Ibiza’s NFT marketplace and joining special deals across a hand-picked selection of local tourism establishments and retails through a dedicated iOS/Android application.

About Freeverse

Freeverse’s mission is to bring true ownership of ‘living’ digital assets (such as NFTs) into the mainstream, and revolutionize the concept of ‘digital ownership’ - where users truly own their digital assets, yet permitting companies and content creators the right to control how those assets are used within their applications. Freeverse offers a platform and integrated marketplace that allows the creation of ‘Living Assets’ — NFTs that can be traded freely among users, but whose properties are regulated by their initial creators. The company was founded in 2019, and recently closed its second funding round, led by Adara Ventures and 4Founders Capital.

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