• Traxx raised $7M total funds.||Traxx raised $7M total funds.
• New Zealand Funds backed the project, as did Syzygy Investment Advisory Ltd.
• This agreement is the first global major NFT-based deal that has been backed by a pension fund.

||Traxx has secured $5M of initial launch support from New Zealand Funds and Syzygy Investment Advisory Ltd., bringing funds raised to a total of $7M.

This landmark agreement will mark the first global major pension fund to support a Non-Fungible Token project. ||Traxx is a new marketplace that redefines and enhances the value of music, by supporting and financially benefiting the entire music community using NFT technology.

Syzygy Investment Advisory Limited and serial entrepreneur Max Kantelia enabled the facility. Traxx after he and Zilliqa announced a $1.1M partnership last year.||Traxx after he and Zilliqa announced a $1.1M partnership last year.

“These projects are not just new business models, but new economies with new structures of commerce, dynamic revenue models, social structures, governance, and participation from the community as stakeholders in the ecosystem. These are all attributes that play towards a macro thematic investment view,” said William Callanan, Founder of Syzygy.

James Grigor, chief investment officer of NZ Funds was also added.

Our key mission is to help the development of digital models. Because our global investment portfolio has a long investment horizon, we’re able to focus on businesses that provide strong growth potential, as well as diversification opportunities for our clients. ||Traxx brings both, so we’re delighted to be their long-term partners, and to assist where we can in growing this exciting new market.

NZ Funds, founded in 1988, has more than $2B in retail funds under its management. NZ Funds has also been a supporter of the digital asset market. NZ Funds is one of the pioneer pension fund managers to invest in and in.

NZ Funds shares Syzygy’s stock in Galaxy Digital, a technology-driven financial service and investment management firm that is listed. Galaxy Digital provides institutional clients and their direct clients with financial solutions across the entire digital asset ecosystem.

Over the past year, Token||Traxx has secured a total of $7M in partnership support over the course of the last year from other players including Cosimo Ventures and the Akasha Innovation Hub. ||Traxx summarized, “It is an honor to be backed by such eminent partners in the financial sector who see the potential growth in a new economy, where value can be created, and everyone is a stakeholder.

“It is about making everything inclusive. This support will now allow us to deliver on our potential to make the music industry a fair, yet robust playing field for those who create, curate, and collect music.”

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