Ibiza bets on blockchain technology to boost local businesses and the creative economy


Ibiza NXT is the first blockchain conference on the island organized by Ibiza Token in collaboration with the Ibiza Government and Federation of Small and middle-sized enterprises (Pimeef), which will be held this Thursday at the Agroturismo Atzaró.

“The main aim of the conference is getting closer local community, businesses and content creators to the endless opportunities this technology offer”.

Ibiza (Spain) – Ibiza Token introduces Ibiza NXT, the first blockchain conference on the island which takes place this Thursday at Agroturismo Atzaró. The project can count on the support of the Ibiza’s government, the Federation of small-medium sized enterprises (Pimeef), a large number renowned artists such as Jesús De Miguel, Rom Ero, Pedro María Asensio, Antonio Villanueva, Marcos Torres and companies such as La Dalias, Atzaró, Beachouse Group, Grupo Vettonia, Ibiza Botánico Tecnológico just to name few.
Ibiza NXT will introduce Ibiza Token a digital platform that leverages blockchain technology to connect local businesses and artists to a global audience through its forthcoming NFT Marketplace.

NFTs (Non-Fungible Tokens) are unique digital items that can represent artworks, real-world or intangible objects, and can be traded freely by users, using blockchain technology to guarantee their ownership. NFTs can be bought, sold exchanged, and collected on marketplaces such as the Ibiza Token one represents which represents a concrete commitment to support and promote the local content creators and business community.

Ibiza NXT conference will be divided into four panels with different themes. In the first two panels, Speakers from Polygon, Bankless DAO, Bocconi University, NFT Studio, Labchain, Freeverse, NFT Price Floor will explain how blockchain technology can change the world by introducing the basics of this pioneering technology, the application in different business sectors and the main legal aspects connected. Subsequently, they will share their point of view about the actual value and future development of NFTS, beyond the big hype of the moment.
Afterward, managers of local companies such as the iconic Las Dalias and the breakthrough Ibiza Botánico Biotecnológico together with the artists Jesús De Miguel, Rom Ero, Marcos Torres, and Romanie will introduce real use cases connected to the forthcoming Ibiza Token’s NFT Marketplace aimed at connecting local artists and businesses with a global audience. These panels will include the participation of the president and secretary-general of the federation of small and middle-sized enterprises (Pimeef).

In addition, during Ibiza NXT the attendants will get the chance to download the first version of the mobile application Ibiza Pay which will allow the creation or import of a digital wallet to store Ibiza Token, the utility token connected to the project. In a second phase, the same application, connected to the IBZ utility token, will get the chance to enjoy discounts and promotions across Ibiza’s tourism establishments and shops partners of Ibiza Token.After the conference, it will take place a premiere of NFT collections by Jesús de Miguel, Marcos Torres, Jordi Gómez, Jordi Cervera, Pedro Asensio, and Rom Ero included in Ibiza Token’s marketplace launch.

New opportunities
Blockchain technology is a new reality that is here to stay. This is the reason why since the beginning we considered Ibiza Token as an opportunity for the island”, explained the secretary-general of the federation of small and medium enterprises of Ibiza and Formentera, Mari Ángels Marí, who also highlighted how blockchain technology is able to provide safe transactions as well as “impressively boost art and culture through NFTs”.

“We are very happy that Ibiza Token is a project born on the island and run by a local company. Our aim is that Ibiza NXT will be followed up by a series of events aimed at raising awareness among community, businesses, and artists about the benefits this technology can bring ” she added.

Miquel Costa, the Ibiza government’s culture director said: “Ibiza Token is a project that truly offers another outlet for the island’s creatives. There is a lot of talent and creativity in Ibiza, and this project offers new opportunities to the artists to develop their creativity. It is also a good opportunity for local companies to access this new technology, and this is the reason why Ibiza’s government cannot stay on the sidelines,” Costa remarked.

Regarding the creation of digital art content, Jesús de Miguel, one of the artists who will present his NFT collection during Ibiza NXT, explained that, in his opinion, NFT is a “necessary medium” that needs to be explored as it offers endless opportunities. “The output of the digital art pieces have to be as good or even better than the physical artworks, it’s no good if an NFT is something like an animated gift with which you don’t communicate anything. I think that’s the basis,” he said.

Ibiza Token
Ibiza Token is Ibiza’s first decentralized application that aims to connect local businesses and content creators with a global audience in order to develop a more dynamic and sustainable economic ecosystem.
The Ibiza Token project consists of an NFT marketplace dedicated to local artists and brands and the Ibiza Pay mobile application that in the first phase allows the creation or import of a digital wallet where to store Ibiza Token, the utility token connected to the project. The utility token is a special category of cryptocurrency that, as the name says, is oriented towards offering a specific utility on a platform or application. In a second phase, the same application, connected to the IBZ utility token, will provide to get discounts and promotions in the tourism establishments and shops on the island that collaborate with Ibiza Token.

NFTs allow creators to develop completely unique tokens for assets such as images, songs, paintings, videos or any digital file. These digital files are bought and sold on NFT markets, such as Ibiza Token, where their creators or sellers (not always a match) place them for sale.

“To understand it better, an NFT would be like a unique artwork, for example, Michelangelo’s David. There is only one and it is located in the Galleria dell ‘Accademia in Florence; if someone wants to get that particular David, he would have to buy it (if it were for sale) or get a copy, in which case, we would no longer be talking about the original, which is what gives the sculpture its value,” explains Ibiza Token spokesman Marco Frisina during the press conference.

Ibiza Token is a project based on blockchain technology, a system for recording information that makes it difficult or impossible to change or hack it, making it much more secure when making monetary transactions. “You can’t define blockchain technology without talking about security. One of the biggest benefits it brings is its ultra-secure network because the data transmitted is intrinsically encrypted,” says Frisina.

The goal: to create a community where island businesses and artists can promote their works and services through the island’s first NFT marketplace. This symbiosis will allow NFTs sold on the platform to carry encrypted in their code exclusive access to special collections, discounts, and promotions in businesses across the island, special events, access to limited editions of products, etc.

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