Settlus has emerged as a decentralized platform dedicated to enabling creators to trade intellectual property, increase their revenue streams, and simplify cross-border transactions. At its core, the platform is engineered to serve as a specialized blockchain for NFT licensing.

Once incorporated into the universe of 'Migaloo', these NFTs can be utilized by creators to replicate items from existing assets for sale or for personal use. Krafton Bryan Song, the Biz & Ops Team Leader at Project Migaloo, expressed, 'We are building the Settlus blockchain in sync with the Migaloo metaverse. While many view NFTs simply as unique digital items, we see them as ownership licenses. Therefore, when a creator generates content in our ecosystem, that original digital asset will automatically convert into NFTs. These can then be utilized and sold within our Web2 environment, allowing creators to realize profits that can be withdrawn via the blockchain.' Circle Hacker House 'Migaloo' plans to implement a Create-to-Earn (C2E) framework that empowers content creators to craft a variety of works in the metaverse. Users can buy and possess these creations through NFTs and blockchain transactions, which promote clarity and security throughout the entire buying and selling process.

In addition, Settlus is working towards establishing USDC as the primary currency for creator-related transactions, aiming to enhance and uniform the financial process on the platform.

It's important to note that Project Migaloo is just the beginning of Settlus's planned initiatives. The company is gearing up to roll out a diverse range of innovative projects shortly, aiming to reshape digital ownership and creator financial ecosystems.

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Victor, serving as the Managing Tech Editor and Writer at Metaverse Post, specializes in topics like artificial intelligence, cryptocurrencies, data science, the metaverse, and cybersecurity within corporate settings. With over five years in media and AI, he has contributed to esteemed platforms like VentureBeat, DatatechVibe, and Analytics India Magazine. As a Media Mentor at world-renowned institutions such as Oxford and USC, and equipped with a Master’s degree in data science and analytics, Victor keenly observes emerging industry trends.

He provides readers with cutting-edge and thought-provoking insights from the intersection of Tech and Web3.

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