tZERO, a leader in blockchain innovation and liquidity for digital assets, announced today it has partnered with Wazuzu Inc., an end-to-end blockchain-based asset digitization platform offering a full suite of regulatorily-compliant technology tools and services to its clients. Through this partnership, Wazuzu plans exclusively to present tZERO’s regulated alternative trading system operated by its FINRA member broker-dealer subsidiary, tZERO ATS, as the premier marketplace for the secondary trading of non-fungible tokens (NFTs) that are securities and other security tokens.
NFTs have achieved widespread recognition over the first half of 2021 as a new and exciting application of digital technology, illustrating the public’s acceptance of natively digital or digitally represented assets, such as art, music, or collectibles. Like fungible tokens, NFTs are a new asset class and can be structured to have characteristics that make them securities regulated by the U.S. Securities and Exchange Commission. Unprepared NFT Issuers, promoters, and other participants in the NFT markets may unexpectedly find themselves subject to regulatory oversight, penalties, and/or other liabilities. Wazuzu and tZERO will work together to help clients navigate the rapidly evolving transactional ecosystem around digital assets. tZERO welcomes these assets into its compliant market ecosystem, subject to confirmatory due diligence and applicable regulatory requirements.
tZERO CEO Saum Noursalehi stated, “As we look to expand our platform to support more digital assets, we are excited to partner with Wazuzu to create a path to continuous liquidity for NFTs and other digital securities through our secondary securities trading platform.”
Founded in 2020, Wazuzu is purpose-built to leverage blockchain-based digitization strategies by building platforms across a variety of industries, assets, and use cases, including media, intellectual property portfolio monetization, consumer products, sports, capital markets, mobile gaming, esports, horse racing, higher education, and regulatory compliance. Wazuzu strives to create immersive experiences that include digital assets for consumers, investors, collectors, and other affinity groups.
Wazuzu co-founder Joseph E. Besecker said, “Tokenized assets represent something we could only dream of a few years ago – the ability of everyday people to generate unique content that is verifiable, permanent, and easily traded. We are excited to work with the liquidity leader for digital securities, tZERO. As our clients issue, purchase, and sell NFTs and other digital securities, Wazuzu aims to democratize access to digital assets and provide investors with liquidity optionality through our partnership with tZERO.”