Token||Traxx
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The Data Revolution
Data collection, storage and easy access needs to be improved on every level and with Web3 tools the potential is enormous. Token||Traxx is looking to develop fingerprint software that allows all music and the performances incorporated to be properly documented.
Data collection starts with IP generation. It is clear that the current system of data collection at recording level, when the music is made, is inadequate and if anything has got worse over time, especially with the advent of digital recording.
During the Credit Where Credit is Due campaign, TommyD met representatives from both the British Museum and US Library of Congress, who were dismayed at the lack of information being collected in today's music creation sessions. The British Library alone has over a million recordings with absolutely no information as to who wrote or performed the music.
Token||Traxx will work with DAW companies to look at how to integrate and encourage fingerprinting within the initial recordings, in a seamless and simple way, allowing Creatives to focus on their creativity, while ensuring that creativity is documented and securely stored on chain.
In time these authenticated performances will allow for proper rewards to be paid out on every level, where music is listened to and enjoyed, through instant on-chain transactions.
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