If you're a music artist, work in music or love #web3, check out what we are building at @onlyontrax - a web3 social marketplace for music, built on #ICP.
🧵 Here's a quick thread to get you started 👇
Our goal at Trax is to be the only platform a music artist needs to go from unknown to rockstar 🎸🚀
Over the years, artists have been exploited by record labels and streaming services.
Today, we’re excited to announce a solution...
A web3 alternative to centralised platforms like Patreon, Bandcamp and OnlyFans, Trax puts distribution, monetisation and fan interaction in the hands of the artists.
Here’s 5 reasons why Trax is different:
1. Peer-to-peer payments
Even the biggest web2 players like Spotify, Apple Music and Patreon, rely on centralised payments infrastructure🦕 & pay out in FIAT currencies. Gross 🤮
On Trax, fans pay artists directly. Artists get paid out in $BTC not $USD, in minutes, not days.
2. Decentralised storage
On Trax, all digital content from songs to music videos is stored on a low-cost, decentralised blockchain - the #InternetComputer.
This gives artists immutable ownership over their digital content and enables direct monetisation and distribution.
3. Royalty sharing
Music is collaborative. That’s why we’re building Royalty Sharing into v1.
Smart contracts ensure that the correct royalty % goes to the right person - autonomously, without the need for middlemen.
Sit back, relax and let those royalties roll in.
4. Digital goods
From NFTs to fan tokens to metaverse concerts, Web3 has created new ways for artists to digitalise and monetise their music.
Trax will be the platform to discover, purchase and trade digital goods from your favourite artists.
5. Community governance
Censorship is a key 🔑 theme for web2 platforms. But does it have to be?
Banning, censorship, altering of community guidelines will be voted on by the Trax community.
A social network governed and maintained by its users? Zuckerberg, eat your♥️out.
TRAX will launch on $ICP in 2023 but you can sign up for Early Bird access now and there’s some pretty sweet rewards (Early Bird NFT & Airdrop).
onlyontrax.com
Follow me to stay updated on our progress @onlyontrax
#ICP #InternetComputer #Web3Music #Bitcoin $BTC $ICP #OnlyOnTrax
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