Our partnership with Zilliqa puts TokenTraxx on a solid foundation
A shared vision to create an accessible and inclusive creator economy, delivered by the power of blockchain technology
by TommyD, co-founder of TokenTraxx
It has been almost a year since TokenTraxx was conceived. From a simple idea in my head it has evolved into something very real with big aspirations.
TokenTraxx, like the NFT market itself, has grown fast and is gathering momentum. And, recently we laid the foundations for our technology through a partnership with Zilliqa, a cutting edge blockchain platform.
Zilliqa launched in 2018 and has since been diligently building one of the most efficient, secure and impressive mainnets in the blockchain sector. It also has an extremely loyal and dedicated community.
When the TokenTraxx team and I sat down to discuss the driving forces behind our choice of blockchain, we drew up a list of essentials. Efficiency and security are at the heart of what we, at TokenTraxx, are trying to achieve. Moreover, at the top of the list was the ability for us to run on low gas fees, i.e. the transaction costs. I have always wanted the NFT revolution to be for everyone, not just those lucky or rich enough.
I am delighted that Zilliqa and its co-founder, Max Kantelia are aligned with this approach. When I first met Max I instantly clicked with his outlook. Tech is amazing but people change the world. Max is one of those people. I share his vision to put the creator economy at the heart of blockchain, offering all of us more choice in how we profit and support our communities.
One of my favourite quotes is by the American author Booker T Washington:
“If you want to lift yourself up, lift up someone else.”
Lifting everyone up is an essential part of building a fairer, more egalitarian society. TokenTraxx’s mission is to be at the centre of the new independent music creator economy, driven by NFTs, providing a platform that redefines and enhances the value of music, which supports and financially benefits the whole community.
The opportunities that NFTs and blockchain offer for some of the poorest people in the world are immense. In developing countries, where the average monthly wage is $70, incidentally less than the average NFT gas fee, a $20 NFT sale for an artist could support the artist and their whole family for a month. Creatives in these countries deserve to profit from their talent just as much as the rest of us. Low transaction costs are essential for this inclusivity.
This is true levelling up. TokenTraxx is about onboarding the next wave of crypto users safely and securely, giving more to those who need it.
TokenTraxx and Zilliqa also both share the same ethos on doing all we can to be as green as possible.
Zilliqa has low gas fees, average $1 per NFT mint and an extremely low carbon footprint. Zilliqa minting emits 82 times less CO2 than Ethereum and Zilliqa intends to go carbon neutral by 2022. There are others out there which are cheap on gas fees, but Zilliqa is established, it has built a solid foundation and is building out its ecosystem.
Zilliqa is not only promising, it is doing more. It is delivering.
With this partnership we will be able to impact the world in the right way, through low gas fees as well as being able to bring NFT music to the masses.
Together, we are doing more.
