What Is NFT Utility? The $HUSL Tokenomics Explained
The multi-billion-dollar NFT market has created somewhat of a pleasant frenzy in the metaverse. It first transformed the world of digital art with an array of unique, non-mutable collections that, to this day, fetch hundreds of thousands of dollars from anyone who has money to spend, including fiat-based corporations such as VISA and Mastercard. They have also attracted a wave of newcomers to the space which apart from everyday collectors, also include a multitude of celebrities like Jay Z, Eminem, and others.
This meteoric rise in popularity has also come with a dramatic increase in use-cases, as NFTs have integrated themselves into numerous industries, thereby shining a bright light on the utility they provide. If you’re a crypto veteran, the term “token utility” is likely familiar to you. For those new to the space, token utility describes the benefits a specific crypto token provides for its holders. This includes but is not limited to passive income rewards through farming and staking, and governance rights such as voting on projects within the community.
NFT utility works along the same principles. While it’s great to be able to buy and sell NFT art, the need to understand their utility in other industries, such as gaming and music, is a hot topic of conversation. All of this points to a more sustainable ecosystem for this highly popular digital asset, as NFTs with real-world use-cases typically provide decentralized solutions in centralized markets in which the balance of power, and overall benefits, very rarely favor the consumer.
The HUSL NFT Utility
If the NFT market is to continue on this path of fruition, it will need to provide evidence of adding value to our daily lives. Some examples of this include financial benefits, real-world solutions, or a community-building effect that brings an otherwise marginalized group of people out of a precarious situation. And case in point, The HUSL stunningly accomplishes all of this.
Our NFT music platform addresses the ongoing pain points that have plagued the music industry for decades. It first began with record labels picking and choosing the artists they felt were the most marketable. With mass distribution and advertising executives on board, it all but eliminated the chance for a musician on the indie scene to get their big break.
The advent of the internet breathed new hope and in many ways did provide a platform for artists that previously had none. But it wasn’t long before corporations seized this opportunity as well, controlling the access fans had to artists through streaming services.
In almost all cases, fans who paid for the music they loved contributed more to a faceless music executive than the artist themself. This is why we believe it’s high time for a complete overhaul of this broken system.
The HUSL creates an NFT marketplace that directly connects artists with fans and other creators. Now, music lovers can purchase NFTs from emerging artists that have true grassroots followings, without the influence of marketing executives or streaming services getting in the way. Artists will also have full control over the music they produce, merchandise, and
Musicians and beat creators can also collaborate with vocalists, and vice versa, all of which remove third-party intermediaries and empowers those who contribute the most to the music industry.
$HUSL Tokenomics
The HUSL will allow fans to directly invest in the artists they want to hear. This includes exclusive access to new or unreleased content in the form of NFTs. In essence, fans come first! And artists with organic followings, not bought by executives, will finally have a platform to connect with music lovers.
We offer all users of our platform a user-friendly interface, without the worry of shipping fees or currency conversion. Transactions will be processed in Ethereum and posted to ERC-20 wallets immediately. Below you can find more details about our tokenomics and vesting period.
Initial Market Cap: 350K
Total Token Supply: 100M
Unlocked on day 1 of TGE: 360K
Private Round Price: $0.20
Public Sale Price: $0.25
Vesting Period for Private Round: 30-day cliff with 8.33% released every 30 days thereafter
Vesting Period for Public Round: 10% percent unlocked at TGE, 10% unlocked on day 30, 20% unlocked every 30 days until day 150
Are You Ready to Revolutionize the Music Industry?
We are so grateful for the overwhelming support we’ve received from our community of artists and music fans alike. Together, we will break through the barriers creators and consumers face and build a bridge that allows both parties to engage directly with one another. We look forward to our launch and the chance to create music history with you.
