PlayTreks named a notable blockchain company by the EU Blockchain Council.
Europe is making major steps forward in harmonizing the legal, regulatory and policy frameworks of the EU Member States on crypto assets.
DUBAI, DUBAI, UNITED ARAB EMIRATES, October 11, 2022 /EINPresswire.com/ — PlayTreks named a notable blockchain company by the EU Blockchain Council.
Europe is making major steps forward in harmonising the legal, regulatory and policy frameworks of the EU Member States on crypto assets. On 24 September 2020, the European Commission published a proposal for a “Regulation of the European Parliament and of the Council on Markets in Crypto-Assets”, commonly referred to as the MiCA proposal. This proposal is part of the Digital Finance package. This is a holistic package of measures to further enable and support the potential of digital finance in terms of innovation and competition while mitigating the risks. The European Parliament voted a draft of the proposed MiCA framework on 14 March 2022. This has now moved into the next phase of discussions between the European Parliament, European Council and European Commission. The proposal remains a major challenge for the EU as the debate on how crypto should be regulated is strong and ongoing.
In addition to the MiCA proposal, the Digital Finance package also includes a proposal for a pilot regime on DLT market infrastructures. It also includes a proposal for digital operational resilience, and a proposal to clarify or amend certain related EU financial services rules. Europe’s strategy prioritises ensuring that the EU financial services regulatory framework is innovation friendly and does not pose obstacles to the application of new technologies. The MiCA proposal, together with the proposal on a DLT pilot regime, represents the first concrete action within this area.
Finally, as showcased in the “European Financial Stability and Integration Review” of 2022, the European Commission is well aware of the potential of decentralised finance (DeFi) and its associated innovations for streamlining the financial sector and offering efficient, robust and transparent services.
Given the rising interest in cryptocurrencies assets and their underlying technology (blockchain or DLT), in 2020 the European Blockchain Observatory and Forum (EUBOF) has undertaken a study on capturing the current state of technological, market and regulatory developments in each of the 27 EU Member States, plus Switzerland and the United Kingdom (UK).
The study is topical as different countries present different states of development in blockchain and crypto assets on several dimensions:
Regulation and policy: several countries have recently legislated or issued guidelines, leading to market fragmentation.
Business activity: as a result of different regulatory treatment, entrepreneurial and investment activity is unevenly concentrated amongst nations, leading to emerging clusters.
To support Europe’s efforts to develop a harmonised framework across the EU Member States, it is therefore imperative to study the current level of regulatory and market maturity in each of them. This report aims to do that, by providing short country-level “factsheets” summarising the state of affairs in each country.
PlayTreks, since its inception, is enjoying stellar growth with its All in One platform. The platform provides all essential functionality artists need to become successful. It also includes a fast growing NFT marketplace, where artists and record labels can be in control of their digital content and monetization without dealing with middlemen.
Being named as a notable blockchain company in the EU Blockchain Council Market study is another milestone and recognition for the innovative work we do to democratize the Music Industry, said Anjo De Heus, Ceo and founder of PlayTreks.
The PlayGrounds / PlayTreks was recently named a key player, among other well funded NFT marketplaces such as Opensea, TuneGo, Rarible, Amuse, Nifty Gateway, Opulous and Makersplace by AMA Research.
PlayTreks, a Belgium and United Arab Emirates-based company that offers music distribution, data analytics, airplay monitoring, and a blockchain-based marketplace. Since launching its services, the pre-Series A company has been quietly attracting indie artists to its music NFT marketplace to spur increased revenues and stronger fan relationships.
What sets PlayTreks apart from the pack, is the fact that the company not only has a powerful NFT Marketplace, but also includes music distribution to all Web2 platforms, near-realtime global radio airplay monitoring, meta data of millions of artists and songs, and cross channel analytics.
The inclusion of PlayTreks in the EU Blockchain Market study report, follows recent recognitions being recognized as a key player in the NFT industry by AMA Research, being named one of the leading 6 Music NFT Marketplaces by Growthchain.io, and by recognition of the Emirates Angel Investors Association, the United Arab Emirates Ministry of Economy and Cosmo Energy Holdings to represent the UAE on a trade mission to CEATEC, one of the largest consumer electronic shows in the world, held in October in Tokyo, Japan. PlayTreks has been named a key player in the NFT Music segment by several market leading research organizations throughout 2022.
We are proud to be recognized as a key player in the NFT Music industry, said Robbert Vroegindeweij, Co-Founder of PlayTreks / The PlayGrounds. Our goal from day one has been to democratize the music industry and to provide a powerful All-In-One platform for Do It Yourself or Indie artists with a high degree of transparency and tools to optimize the monetization of digital content.
Global NFT Music has become a fragmented market due to the presence of various players. The companies are planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
For more information contact PlayTreks by email info@playtreks.com or visit website at www.playtreks.com or www.theplaygrounds.io
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