11 January, 2022
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Start of week update

11 January, 2022

Hurrian Network

The hybrid blockchain, Lox Network, is starting out the year with a bang!

For those who may have missed it, Hurrian Network announced over the weekend that they are building on our hybrid blockchain. Hurrian is a UK-based team building music streaming software. Fundamentally, their aim is to make sure every artist — no matter how big of a following or small — gets their fair share. The plan is to connect all manor of talent while distributing royalties fairly and consistently. Their planned streaming app will also reward listeners, DJs and similar audiences a more fair rate than most streaming platforms. Last, Hurrian has plans for unique NFTs that artists can collaborate on such as special album covers and bonus tracks to sell in a marketplace designed for all things entertainment.

This is a team that knows what they’re talking about and nearly 200,000 people agree. The guys behind Musician Life on Instagram make up the core of the Hurrian team. Hurrian can discuss the details of what they’re building, but this should give you a basic background. Feel free to check out Hurrian on TwitterInstagramFacebook and join their newsletter for more information on their upcoming Melody token airdrop.

SmartLOX mobile app

With that, you may be wondering what any of that has to do with you. Hurrian needs a marketplace and what better way to start connecting artists in the metaverse than the SmartLOX app. SmartLOX is already being built to identify items in the real world and pair them to their counterpart in the virtual. If we at Lox Technology can create this virtual marketplace using the dual NFT hybrid chain, then the possibilities are endless. Imagine buying a pair of sneakers as an NFT. These sneakers also have multiple colors that you can earn or collect to easily change whenever you feel like it. Imagine then earning the colorway you love and being able to redeem the virtual pair in the real world with an NFT coupon or gift certificate that a store clerk can scan at the cash register. Now, when you go out to lunch with your friends, you are wearing the same sneakers in the physical world as you own in the virtual world — and both pairs are recorded on the blockchain as yours. A hybrid blockchain designed to identify multiple virtual NFTs and real-world assets can make this possible. These are all hypothetical, of course, but it’s exciting to think about and something Hurrian sees a possibility for what they’re building!

MetaLOX Airdrop

Hurrian’s announcement is also a good time to introduce our next phase: MetaLOX. We will have a lot more information on this to come. While we’re working on the official publications, we’re also preparing an exclusive airdrop for $LOX, $SmartLOX and $SmartNFT holders. Those holding any one, two or three of tokens in self-custody like XUMM or Ledger hardware wallets will get the airdrop. We are also waiting to see it Bitrue and Probit will support the drop, but their support is often influenced by the community. We’re not releasing much on this right now, but once we sort out the details, we will announce snapshots, ratios and the like at a later time to ensure everyone has time to move tokens if needed. Follow us here for more information when it becomes available.

Bitrue Yield Farming Hub

As previously announced, Bitrue’s Yield Farming Hub goes live today and we were one of the first tokens selected for this passive income opportunity. The hub is similar to DeFi staking pools and use $BTR to generate profits and passive income. According to Bitrue, unlike many DeFi pools, there is no risk of impermanent loss because the rewards are coming straight from the projects, making BTR the world’s first and only yield token. If you want to join in and haven’t had the time to look into it, please follow Bitrue for more information.

Wrap Up

We still have your questions from last week. Unfortunately, we ran out of time to get to them today, but we will get to them (and we’re sure that we’ll be getting a lot more very soon!) In the meantime, let’s give Hurrian a follow and join their newsletter (links above). We want to hear from anyone who has anything to do with the music and entertainment industry — even if it’s as a digital artist, designer, photographer, etc. Thanks for the support, #LoxFamily! – Team LOX

Louie Penty
Manager

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