TokenTraxx aims to provide Web3 products and services that create closer connections between Creators, Curators and Collectors of music and redefine the value of music to support and financially benefit the entire community.
TokenTraxx has two, complimentary business models that bring the best from Web2 to Web3.
The first is the marketplace and Web3 advisory which derives commissions, advisory and recoupable fees from bringing creators, curators and collectors of music together on TokenTraxx. TRAXX tokens can be used to meet transaction fees on the marketplace.
The second is the TRAXX Protocol – Web3 technology intentionally built for the music industry. To be deployed off TokenTraxx, the protocol will create a demand and supply asymmetry – on Creator and Curator-owned and operated and third-party Web2 and Web3 properties. Protocol can be used by both artists and as a white-label solution for enterprise clients who have an interest in minting NFTs and fungible crypto tokens.
TRAXX tokens are required for every transaction on the TRAXX Protocol, which is designed to facilitate a simple user experience for those unfamiliar with crypto. TRAXX is in effect the “gas” of the Protocol, in the same way Ethereum is used as “gas” for general crypto transactions. In addition, TRAXX tokens are required to enter into and advance through the TokenTraxx membership scheme. TRAXX tokens can also be used to meet transaction costs on the marketplace platform. Finally, TRAXX tokens act as the “currency” of Traxx Network. All use cases are outlined below under “TokenTraxx Products and Services”.