- Summary:
- The Token Traxx platform, which leverages NFT to create greater value for music has listed its token on AscendEX exchange. What’s in it?
Cryptocurrency exchange, AscendEX, has announced the listing of the $TRAXX token. The listing commences on March 18th, 2020 at 1 PM UTC, and the token will trade as TRAXX/USDT. TRAXX is native to the Token Traxx platform, which creates a value pool for musicians, music curators and creators. The platform tokenizes audio tracks, which are curated into playlists and albums in the same way as Spotify, but with a unique monetization model.
Music creators, curators, and collectors can now look forward to getting their fair share of the revenue from their contribution to different music tracks and albums.It will be possible to purchase NFTs using this token and pay the platform’s transaction fees. Additionally, this will also provide holders with additional benefits such as giving incentives to participate in the platform rewards program. Moreover, the platform will be adding new functionality over time.
NFT technology is the cornerstone of Token Traxx. Several aspects of the music industry benefit from NFT and blockchain technology, including rarity and functionality. Token Traxx aims to revolutionize the music industry by creating a new way to create, curate, and collect music using NFTs. They’re paving the way for NFT in the music industry. With the help of NFTs, Token Traxx enables various musical creatives to collaborate and profit from each other. Also, users can customize their NFTs and trade them with fans all over the world. Using smart contracts, NFTs allow creators to interact with their fans in a more personalized way.
About Token Traxx
Set for launch in 2022, Token Traxx is an NFT marketplace Token Traxx built to create better value for the music community. It leverages NFT technology to support and benefit the music community. It supports multiple networks, including Polygon.
Using the platform, music curators are rewarded for finding, compiling, and sharing great music. Fans can get exclusive NFTs from the creators that they know will bring value to them. It assesses music collectors on their ability to buy and sell at a discount, rather than their overall value. Essentially, you’re trying to time your investment so that you can profit from a rising market while the track is still young.