NFTs use cases continue to expand since they break into the mainstream leading to wider adoption. Following its tremendous breakout in 2021, it became apparent that NFTs will come to be a major part of our daily lives. Now, NFTs have been integrated into most spaces. We find them when playing games, consuming content, interacting with apps like music, videos, virtual images, and so on.
However, one industry that seems to have a very close relationship with NFTs is the music industry. It’s safe to say they are the latest BFFs in town. It’s been said that fan tokens and NFTs have the potential to revolutionize the music industry. We now continue to witness a long-lasting and significant change in how musicians relate with their fans and create music.
While many have always believed that decent revenue distribution in the music industry is a fantasy, things are beginning to change. And these changes are courtesy of the special relationship the music industry has with the decentralized system.
Certainly, lots of companies have been keying into NFTs to take part in the disruption of the music industry. One of the latest platforms to take on this initiative is TokenTraxx. TokenTraxx is a creative music duration vehicle that aims to transfer power to fans and musicians within the music industry.
To bring this goal to life, TokenTraxx will be working directly with artists offering them a solid foundation to create and establish an all-inclusive platform driven by the community. First, on the project, TokenTraxx will enable tokenized albums, merchandise, and songs that are fundamentally controlled by the creators.
Tommy D, one of the prominent DJs in the industry, is the brain behind TokenTraxx. Meanwhile, the know-how and technicalities will be handled by the co-founder Miles Leonard, the ex-chairman of Warner Music and Parlophone Records. Through these partnerships, the founders believe their reach in the music industry will spread in no time, and then, they can make their mark.
Taking a giant forward towards launching the remarkable project, TokenTraxx has launched its native token dubbed $TRAXX governance token on the 21st of March 2022. $TRAXX is an influential utility token that propels the movement of musical empires driven by artists.
According to the roadmap, TokenTraxx will be launching an open beta version of the platform on the 28th of March 2022. Here, users will get a first-hand experience using and navigating the platform for a better understanding of the revolutionary latest system