Kazakhstan’s Creative Sector Advocates for Recognition of Intellectual Property as Financial Assets at AFD 2026

ASTANA – The emerging creative economy in Kazakhstan is pushing for a paradigm shift in how intellectual property is perceived—not merely as cultural output but as investable financial assets. This theme took center stage on September 10 during the second day of Astana Finance Days (AFD) 2026, which focused on creative industries as an asset class.

Moderated by David Tuganov, president of the Creative Industries Alliance of Qazaqstan (CIAQ), the panel featured key figures including Aizatulla Hussein, founder of Õzen; Olzhas Akparov, Chief Business Development Officer of Cyber Temple; Julia Kushnir, head of business development for Eastern Europe and Central Asia at TikTok; and Askar Bilisbekov, CEO of Alem Capital Management Limited.

Aizatulla Hussein presented a pioneering model from Õzen that leverages blockchain technology to tokenize music intellectual property. This approach enables fractional ownership of music rights through smart contracts, allowing investors to acquire tokens representing economic interests in individual songs.

“For the last seven years, our core business has been distributing music content digitally. But music is more than entertainment—it is a financial asset capable of generating income over many years, with returns that continue to grow,” Hussein explained.

The tokenization model creates an internal marketplace where investors can evaluate the performance and potential of compositions using data from digital platforms. Hussein acknowledged that while the technology is mature, the primary challenge lies in establishing the appropriate legal and regulatory frameworks to support tokenized contracts across jurisdictions. Õzen aims to launch pilot projects by the end of 2026.

This shift reframes the creative industries conversation from one focused on grants, promotion, and audience growth to one emphasizing ownership rights, cash flow generation, and investment returns.

Askar Bilisbekov underscored the importance of investor education, noting that creative entrepreneurs in Kazakhstan often face hurdles not due to lack of talent but because of insufficient understanding of how to present their work as viable business propositions.

Drawing parallels with Hollywood’s film industry, Bilisbekov highlighted how investors have long applied venture capital strategies to creative projects—financing a portfolio of works with the expectation that while many may fail, a few will yield substantial returns.

“In Hollywood, the principle was simple: invest in a large number of films, knowing that most will fail but some will succeed spectacularly,” Bilisbekov said.

The panel’s discourse reflects a broader trend toward integrating creative intellectual property into formal financial markets, potentially unlocking new capital flows for Kazakhstan’s creative economy.

The event at AFD 2026 marks a significant step in aligning Kazakhstan’s cultural assets with innovative financial instruments, fostering an ecosystem where creativity and investment intersect to drive sustainable growth.