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IPXHOP, an integrated IP trading platform, announced that it has signed an MOU with an agency Raonwiz in the field of Christian music.
The two companies agreed to promote discovery of artists, music production, and performance through the newly launched 'Gospel' section on the IPXHOP platform.
IPXHOP operates trading platform for intellectual properties (IP) in various fields inclusing music, gaming, visual arts, character, webtoon, and patents.
IPXHOP recently signed an MOU with “Dainleaders”, blockchain-based matching service platform for international students (DoDream Chain), drama production company "Chorokbaem Media", "Meta Planet" for NFT global cooperation using game IP, and contents production company, "Cookies".
It has recently sponsored and participated in the 2022 Seoul Money Show, the 2022 Metaverse Expo, and the 2022 NFT Meta Korea.
Soo-min Kim, Raonwiz CEO, said, "Gospel (CCM) singers are not properly protected by copyright compared to general singers and don't even receive a tenth of the usual fee, and rather they are carrying out the ministry with a sense of vocation. In addition to the protecting copyright fees stipulated by law, we are also looking for different methods to funding artists for music production costs and dividing IP sales revenue and neighboring copyright (music distribution) fees for songs launched at IPXHOP. I belive this will help promote the Christian artists and K-Gospel culture."
Raonwiz was started with a mission to help promote K-Gospel globally. Kim believes that K-Gospel is highly undervalued compared to other K-pop, and will help arrange global performances with sponsors.
Hyo-seong Joshua, IPXHOP CEO, said, "We have already launched more than 90 songs on the platform, but we're trying the CCM field for the first time. We plan to launch and collaborate with foreign CCM singers together with Raonwiz in near future."
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