TrexToken: Music Distribution Via Blockchain Technology.
Business Idea
When an artist creates a new single or musical album, he must invest his time to create that piece from an original idea through to the product. They finance it with their own money, contact a record label in the hope that they are interested in the song, investing and publishing it to get the most sales. This all takes many months before outcomes can be achieved .
Often however, this does not happen, as the artist does not have the necessary funds to create a music video, because he does not have the right contacts, and because the record label (given the huge amount of songs they receive) rarely invests their time and effort into the song. An artist can often find they have spent substancial time and funds without gains or revenue.
TrexToken, due to the Ethereum blockchain, finally wants to resolve these problems that hinder emerging artists within the world of music. TrexToken will provide opportunities for the advertiser to easily reach their audience, thus avoiding intermediaries who only increase the advertising cost. TrexToken will give them the choice to choose the amount to invest in each individual advertising. In addition, advertisers will get data to measure the results of their marketing campaign.
What Is TrexToken?
TrexToken is a blockchain based music streaming platform which gives emerging artists the opportunity of producing their own songs and listeners to enjoy and hear new content from any device they have. By using TrexToken musicians can also receive donations from fans who can contribute to their next album.
TrexToken will provide the user with the opportunity to use the platform in several ways: from free streaming to donations, payments and insertion of advertising sponsors. The project is aimed at overcoming the bureaucratic and economic obstacles within the industry and reward artists and users for simply using the platform. Unlike other competing from other music streaming platforms, TrexToken assists financing music and video artists and gifting tokens to the users, from enthusiast level artists to those focused on commercial activities.
The TrexToken Blockchain Music Solution
TrexToken has several measures that it plans to implement in order to maximize a musician and advertiser’s potential.
For artist:
- No longer need a record label to upload music
- Will get revenues from the advertising generated by one’s music
- Can resell songs and use on social networks to build a fan-based loyalty
- Will receive immediate payments
- Will have a better idea as to the associated costs without having to spend in excess
For advertisers:
- Will have greater clarity on costs and will not have to pay additional intermediaries.
- Can create their own advertising campaign through a special advertising tool
- Can choose the appropriate advertising target.
- Allows the advertiser to decide the budget they wish to spend for individual TrexToken accepts within their platform
TrexToken's Token and ICO Details
The TrexToken's token, TXT, is the currency of this respective platform and can be used for making a sponsorship or donation, and purchase a song. Using the Ethereum blockchain TrexToken's community will be able to receive payments safely and quickly, thus eliminating the annoying problems and slowness of the fiat currencies.
In terms of the Initial Coin Offering (ICO), it is said to commence sometime between September, 20th and end on November, 20th 2018, where 70% of its tokens will be distributed. The remaining half will be distributed among its reserve funds, team, advisers, and bounty.
TrexToken Conclusion
Overall, the idea behind TrexToken seems strong. The team, however, has taken a step in allowing musicians to create their own music without the need of record labels, allowing for a more decentralized way of making and earning from one’s own music. The idea to integrate the artist with advertisers in decentralized way is also brilliant. Within the platform, the advertisers allows to choose the appropriate advertising target, and to decide the budget they wish to spend. To find out more, check out the TrexToken Website at: https://www.trextokens.com/
Useful Links:
Website: https://www.trextokens.com/
Whitepaper: https://www.trextokens.com/assets/Whitepaper.pdf
Facebook: https://www.facebook.com/trextokenofficial
Telegram: https://t.me/joinchat/Icr6vREfynTeCZuH-DsyIg
Bounty Thread: https://bitcointalk.org/index.php?topic=5037135.0
Author:
Bitcointalk Profile: Tpq01349