TRAXX Protocol

There has been an explosion of new NFT marketplaces appearing over the last 12-18 months, of which TokenTraxx.com is one. NFTs are rightly heralded as having huge potential to shape the future of music, and NFT marketplaces are an important first step in that transformation. They are, however, far from the end of the story. We see significantly more potential in developing a decentralised protocol – one that enables the Web3 technology that TokenTraxx has developed to exist both within and outside of the TokenTraxx platform.

The new TRAXX protocol for Web3 Music Infrastructure.

Through developing TokenTraxx.com, we realised the need to decentralise the technology we have developed and establish the new frontier of the music industry - TRAXX Protocol - The First Ever Protocol Purpose Built for the Music NFT Industry.

While DeFi and other industries have hundreds of dedicated protocols, NONE exists for music. We strongly believe that it is high time the music industry applies its own protocol to support the artists and the music we love. As the music industry continues to expand, more and more artists will be subjected to a system that is not fair to the creators, which intrinsically disconnects artists from the fruits of their labour and crucially stifles creativity in the process. Creators deserve more ownership and control over their work, and a fairer share of revenue and fans deserve to see their money go directly to the artists they love. The flaws and injustices of the music industry can be resolved by the universal adoption of a dedicated protocol, of which the sole purpose is to better serve the world of music! TokenTraxx aims to fully decentralise the entire music ecosystem using a purposely built protocol that meets industry-specific standards. The TRAXX Protocol is designed to be the foundational “block” for future permissionless innovations, which will evolve as “Ethereum for Music”. Initially, we will act as the guardian of this ecosystem to ensure its sanctity and security, and will eventually hand over the reins entirely to the community. The TRAXX Protocol has been developed using significant input from early adopters of the TRAXX platform, artists, and music industry legends.