Liquid Media (NASDAQ:YVR) stock is rocketing higher on Wednesday after announcing a partnership with Currencyworks (OTCMKTS:CWRK).
The agreement between these two companies will have them working together to create a multi-token intellectual properties (IP) platform. This platform will be designed to allow creators control over their IPs.
According to a news release from the company, this IP platform will focus on four distinct areas for IPs. That includes creation, use/subscription, financing, and licensing/protection.
Liquid Media notes that the creation aspect of the platform will allow for IP holders to make NFTs (non-fungible tokens). Support for this will include built-in licensing and use rights, as well as other benefits for IP holders.
Next up is the use/subscription portion of the platform. Liquid Media says that this feature enables the creation of utility tokens that subscribers can use to access different content on the platform.
When it comes to financing, Liquid Mega will make use of Security Token Offerings on the platform. This will allow creators to fund projects that they typically wouldn’t be able to and will make use of decentralized finance.
Finally, we have the licensing/protection portion of the platform. This will allow IP holders to manage their copyrights, licenses, and royalties for NFTs. Adding to that, it will also offer copyright protection features for NFTs.
Ron Thomson, CEO of YVR, said this about the news boosting the company’s stock up today.
“Liquid’s innovative new multi-token platform has the power to dramatically accelerate and de-risk the business of any small or independent content creator. We look forward to supporting them with our business solutions from concept through to monetization. Liquid will be there from start to finish.”
YVR stock is experiencing abnormal trading levels on today’s news. As a result, more than 76 million shares of the stock have changed hands at the time of publication. For comparison, the stock’s daily average trading volume is roughly 7.6 million shares.
YVR stock was up 42.6% since the start of the year.
Liquid Media has been in the news a fair bit lately with its NFT plans.
YVR stock started moving higher earlier this month after announcing plans to enter the NFT space. Since then, it’s seen quite an increase in interest from investors. That includes those over on Reddit and other social media platforms. Investors can catch up on the stock with the following articles from InvestorPlace.com.
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- YVR Stock: 7 Things to Know About Liquid Media as It Soars
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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