The market for digital collectibles: music and art
As of February 2022, it is believed that there have been over three hundred music NFT Creators selling over 1.5m NFT’s, generating over $100m but there are only approximately five hundred unique Collectors.
The Token||Traxx marketplace will a simple-to-use NFT platform for securely minting and trading any type of NFT relating to music.
The Token||Traxx system will digitise and secure every aspect of music engagement from tracks, mixes, playlists, mechanise and tickets and recorded on immutable block chains.
Our partnerships with the Zilliqa and Polygon and other blockchains will facilitate the possibility of free minting and carbon neutral NFT’s.
- be multichain, giving Creators a choice, which chain they mint on, allowing for the different benefits of each.
- standardize certain aspects of user functionality, to make the platform easy and simple to use, but users can personalize their own page, choosing their artwork, logo, CV, news, and blog.
- have a comprehensive marketplace where users can showcase their works, or easily search for a specific track, artist, or genre.
- enable geocentric search for an artist. This allows users to find and support their local artists or support artists in troubled areas.
- will be the first platform to allow those who curate playlists to be rewarded for their effort and creativity.
The Token||Traxx algorithm (in development) will creates a synthetic value to a curated playlist on the Token||Traxx platform. This synthetic value of this playlist can be fractionalised through a dedicated playlist token, and tradable through the TRAXX token acting as the counterparty to the currency pair.
Furthermore, Token||Traxx is exploring how music consumers can obtain rewards for their consumption if they stake the TRAXX TOKEN into playlists on the Token||Traxx platform. For the first time, Creators can sell their writer revenue directly within an NFT sale, allowing fans to share in their favourite artist's success and be rewarded for their participation.