The music industry is undergoing disruption with the rise of streaming and digital music, but one company has continued to find ways for artists to make money once fans stop purchasing their songs. TokenTraxx offers a decentralized platform that uses blockchain technology as well as peer-to-peer (P2P) connections in order to generate revenue streams from fan interactions via its unique NFTs called “TokenLords”
The “band’s selling nfts” are a new type of cryptocurrency that is looking to take on the mainstream music industry. This token will allow artists and bands to sell their music without any middleman, allowing them to receive a portion of the profits from each sale.
The potential to change the music business is one of the most notable use cases for NFTs that has emerged in the previous year. TokenTraxx is the most recent platform to attempt to upset the present system. An unique music curation vehicle that aims to give artists and fans more control over their music.
To accomplish this noble purpose, TokenTraxx will work directly with the artists it represents, laying a solid basis on which to construct an all-encompassing, community-driven platform. They will allow tokenized songs, albums, and products to be controlled primarily by the creators in their first offering.
Tommy D, a well-known house DJ, is the brains of TokenTraxx, while Miles Leonard, previously the head of Parlophone Records, and Warner Music contribute industry expertise. They will have the industry reach they need to make their impact thanks to this powerful alliance.
Miles Leonard, Co-Founder: “Our objective is to allow artists to effortlessly tokenize songs, albums, and goods, ultimately revolutionizing the way fans connect with the artists they love.”
On March 21, TokenTraxx issued its native $TRAXX governance token to begin off their great initiative. The artist-driven musical empire’s wheels are turned by this all-powerful utility token. Then, on March 28, the platform’s creators will release an open beta version of the platform, giving users their first opportunity to try out the innovative new system.
Learn more about TokenTraxx >> Here
The “music nft platform” is a new tokenized music service that allows artists to sell their work without the involvement of middlemen. The company’s goal is to take on the mainstream music industry.
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