There are many great and interesting projects
in the NFT realm. Some introduce a lot of innovation, and some
are made simply for entertainment. Although many people do not yet understand
the benefits of NFT, we are confident that this will change in a while. I'm Garry, this is Olga and it's great to
see you in another video on our OG Crypto channel! Today we want to introduce you to a project
called Traxx, which provides an incredible opportunity for creators to connect with fans
at every level
in unprecedented ways using NFT technology, while creating a whole new
revenue stream. Today we'll touch on a few things such as,
the benefits of the TRAXX Token, the Mission of its creators, and the problems Traxx is
looking to solve. To keep it short, i remind you to subscribe
to the OG Crypto channel. If you do, it will keep you up to date with
all the news in the world of cryptocurrencies, DeFi and NFT, let's get started! At the very beginning, let's explain what
Token Traxx actually is. Mus
ic fans and cryptocurrency enthusiasts
will be able to engage and support their favorite artists through Token Traxx in a variety of
ways while sharing the profits generated by these artists. By utilizing the Blockchain technology and
NFTs, the platform will be able to tokenize individual tracks and albums, as well as the
tracks curated into playlists in the same way as Spotify, but uniquely commoditized. The Token Traxx Marketplace is an on-chain
facility built by musicians for the music commun
ity which will enable users and musicians
to Create, Curate and Collect the hottest tracks. Token Traxx provides a powerful opportunity
for Creators to engage on every level with fans in unprecedented ways using NFT technology,
whilst simultaneously creating a whole new income stream. Those who have a good ear for music can become
Curators and can earn from their ability to spot untapped potential by building brilliant
playlists. And as you would expect from a music NFT market
place; Collectors
can search tracks, artists and genres to build their NFT libraries which
they can showcase to the community or trade on the open market. Token Traxx’s mission is to be at the centre
of a new independent music creator economy, driven by blockchain, providing a marketplace
that redefines and enhances the value of music, which supports and financially benefits the
whole community. Token||Traxx will do this by enabling creator
to publish music in the form of an NFT which can be sold directly and tra
ded by users between
them in a way which rewards the creator for the value created each time the music, track
or playlist is resold or downloaded. This is the fundamental business case for
the Market Place. Token||Traxx unites the best existing music
development and promotion systems with Web3 tools that provide irrefutable, trustless
authenticity provenance and security on the blockchain. This new application of blockchain to music
creation and distribution ushers in a new world where creators
and their communities
can work together to support each other knowing that their contribution will be secure, traceable,
and rewarded. From here, let's talk about what problems
Token Traxx solves. Covid damaged the live scene and reduced royalties
generated from on-site plays in restaurants, bars, and nightclubs. The architecture of the businesses which collect
and distribute royalties is slow, inefficient and fails to capture many of the income streams
that creators are entitled to. Under the T
oken Traxx model transactions and
use of copyright work is recorded real time and royalties delivered in real time, with
no intermediates. The commercial value of any creative work
is most represented by the expected future revenue which will be generated by the work. This does not necessarily correlate with artistic
merit. Commercial value and artistic merit are not
the same. The commercial value generated by music in
royalties for the artist, often values the investment means of distribution m
ore than
the work itself. This has led to artists feeling significantly
undervalued by the proportion of streaming revenues they receive. Token Traxx has the potential to reverse 25
years of dilution of copyright caused by the proliferation of cheap digital reproduction
equipment and rapid dispersal of copies, with recognised rights to share in revenue. And what benefits is Token Traxx expected
to bring with it? Providing a transactional means of buying
NFTs Staking
Membership to the Token||Trax
x platform Pre-launch access As Traxx is the entry point to the Token Traxx
membership-based token economy, deflationary pressure on the TRAXX token will be effected
in several ways: Staking for membership tiers and selected
benefits Staking for early access to selected NFT Drops
Platform effecting token buy back from underlying profits Using fast and secure technology, the Token
Traxx aims to take the experiences of creators, curators, and collectors up a notch by incorporating
many different p
ermissions within the smart contract of the NFT sale, hence facilitating
tailored engagement on many levels. If what we have told you about has interested
you, there is more interesting information about this project in the description of this
video. If you are interested in purchasing the Traxx
token, it is available on the AscendEX exchange in a pair to USDT. On AscendEX you can safely and easily buy
several hundred other cryptocurrencies. In the description you will find all the necessary
lin
ks. In summary, Token Traxx is at the forefront
of the music industry revolution because the company is headed by a team of experienced
industry experts with a passion for music running through their veins. Be sure to share in the comments below this
video what you think of today's project. Also let us know what project you would like
to hear about in the next video. Thanks so much for watching and see you in
the next video, bye!
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