Q1 2023 — TokenTraxx newsletter
Let’s look at what TokenTraxx has going on right now and what’s coming up soon…
Membership news on staking & new rewards, product updates, TraxxStarz competition, Curator & Web3 labels launch, and upcoming drops & events…
Beginning with words from TokenTraxx CEO, Tim Gentry.
The first quarter of 2023 has had no shortage of developments in the wider crypto and NFT markets, and for all of us here at TokenTraxx.
There’s one moment that stood out for me, which was the decision made by OpenSea to reduce artists’ secondary royalties to 0.5% in response to Blur doing something similar. A prominent NFT artist I was speaking to at the time reflected: “I now have to work 19x harder to make the same money”.
In the 2000s, Facebook and Google often made changes to their algorithms that caused huge swings in the digital audiences of publishers and the actions of OpenSea and Blur felt like a similar web2 moment — where a prominent platform made a move that negatively impacted a core part of its community. Crypto catch phrases such as “not your keys, not your crypto” and “not your contract, not your community” have been seen to be brutally truthful in the light of the sad demise of exchanges last year and the changes made by OpenSea and Blur.
TokenTraxx will never do this.
We are here to help creators and curators build their business and community using the amazing tools that web3 has to offer, and we are firmly focused on doing this in a decentralised way, by deploying TRAXX Studios built on TRAXX Protocol. That means that TRAXX Studios owners will own the smart contract, own the community, and be safeguarded against any moves by centralised web3 marketplaces.
As a consequence, we have been inundated with conversations about deploying Studios and are in the process of planning projects with record labels, radio stations, native web3 and heritage artists. We are building a future where there is not one destination for web3 music, but many, each one owned and operated by the community built on TRAXX protocol. In this world, every time a new music community builds a TRAXX studio, the whole TRAXX community grows and benefits. In this newsletter we have lots to share about artists and projects with amazing utility joining this community such as legendary music manager Kwame Kwaten, long established Ibiza based DJ and producer Sarah Main; leading urban music communities Mixtape Madness and Disturbing London, our partners for TraxxStarz; breakthrough artists Meave Moayedi and Rosa Cecilia and pioneering web3 label Sound of Fractures.
The customer experiences of TRAXX Studio and TokenTraxx marketplace are set to be more seamless and enjoyable than ever with Apple and Google Pay, TokenGated Access and many more perks on the horizon for members as 2023 progresses…
Tim Gentry
TokenTraxx CEO / Co-Founder
Our Membership Programme
…which allows TRAXX holders to unlock a range of exclusive benefits and perks:
- Staking rewards with 3 tiers of members
- NFT holders can now also enjoy benefits without staking
- New rebate offer for members to support their music production and subscriptions
- GetMinted fund to help catapult your music career
TokenTraxx is building a dynamic community of crypto and NFT enthusiasts who are equally passionate about music. The native token TRAXX can be staked to gain access to rewards like staking benefits up to 30% APY, merchandise, gifted monthly NFTs, early access to drops, access to events + more.
- Silver Members need to stake 1,000 TRAXX
- Gold Members need to stake 2,500 TRAXX
- Platinum Members need to stake 10,000 TRAXX
Or….
Want to become a TokenTraxx member without staking?
You can now be a TokenTraxx member based on how many TT NFTs you hold.
- Silver: Hold 5 NFTs
- Gold: Hold 10 NFTs
- Platinum: Hold 20 NFTs
How to become a TokenTraxx Member by holding NFTs:
- Send your wallet address to membership@tokentraxx.com
- We’ll check how many TT NFTs you hold
- You’ll be notified when you have been added to the allowlist
- You can now claim the membership NFT and enjoy the benefits
Membership 2.0 / Rebate system
TokenTraxx is excited to offer 100 members each month a full monthly TRAXX rebate for subscriptions of any of the following music services: Plugins like WAVES and Antares (Autotune) and Streaming Platforms like Beatport and Spotify.
There are 3 levels of TokenTraxx Membership, with each level giving you different perks. To activate a membership, you stake an amount of TRAXX for one of the 3 levels and receive a monthly rebate in TRAXX for your desired music subscription.
- Silver members will receive 10 USD in TRAXX per month, for up to 6 months.
- Gold members will receive 20 USD TRAXX per month, for up to 6 months.
- Platinum members will receive 30 USD TRAXX per month, for up to 6 months.
*100 rebate offers available per month, so the first 100 members to qualify for rebate will be airdropped the TRAXX to their wallets.
How to become a TokenTraxx member and claim this new offer?
- Buy Matic and swap Matic to TRAXX on Uniswap DEX OR you can also buy TRAXX on CEX Bitmart or Ascendex and transfer them to your wallet
- Stake your preferred amount on Xportal
- Go to the TokenTraxx Website and claim your Membership Pass NFT
- Send us a confirmation of your music subscription — like a screenshot — and get reimbursed in TRAXX
GetMinted is a way for artists to easily set up the releases of their NFT collection without any hassle, by simply filling out our GetMinted form and submitting your NFT assets for your project to go live on your selected release date.
The GetMinted team is here to support artists along every step of the way to setting up their release, which is accessible and understandable for both Web2 and Web3 artists.
Once an artist becomes a GetMinted artist, they get access to a host of different rewards and opportunities exclusive to TokenTraxx.
The first reward is access to the TokenTraxx Gold Membership, once an artist sets up their release with TokenTraxx and sell their first 5 NFTs they can become a Gold Member and get access to a host of rewards. Some of these rewards include getting their music streaming or production subscription service funded in TRAXX tokens every month for 6 months.
One of the most attractive rewards for artists is access to apply for the TraxxFund of $10,000. The TraxxFund is a new initiative launched by TokenTraxx aiming to support artists in the early stages of their career.
TokenTraxx is encouraging artists to join web3 and rewarding them with an opportunity to fund their career. In the first round of funding TokenTraxx will select 3 GetMinted artists from their catalogue to receive $1,000 in funding. The choice will depend on a multitude of factors such as how strong their application is and their aims for use of the funding. This choice will be made by TokenTraxx co-founders TommyD and Miles Leonard.
Previous artists who have minted with GetMinted include Ohio-based Nigerian Rapper AKtheKing who said this on his experience: “It was so easy and TokenTraxx were so supportive with the process, I didn’t know anything about NFTs or Web3 before this but now I have a wallet and my first collection is out!”
North London’s melodic-rap artist JAY10! Recently released his second collection with GetMinted and said: “Last year I did my first 100,000 streams on Spotify and got paid about £400, I sold 20 NFTs at £20 to achieve the same amount. TokenTraxx made it so easy for me.”
Platform upgrades
As you may have noticed our developers have been busy upgrading the platform. You have probably seen some of these already, but just in case you missed them…
- Apple Pay is coming soon! Yes, you can purchase NFTs on your phone with either Apple Pay or Google Pay — making your purchase even more seamless!
- We have discounts for Platinum members! Platinum members now have a 10% discount on all NFTs on the TokenTraxx marketplace.
- Our new ‘Share’ feature! You can now share your NFTs to socials after purchasing them.
- Collections! On the artist pages, the NFTs are now grouped by collections, bringing a much more intuitive look and feel to the pages.
- Press release section! We now have our press releases on the homepage so you can keep up with all TokenTraxx news past and present.
…and keep a look out for these following announcements…
- TokenGated! This is a perks section on each artist page where their ‘token-gated’ rewards are displayed. We are currently building a token-gated livestream functionality into the site.
- Curator pages! To best display artists communities, we will have curator pages for artists and labels that curate other artists.
TRAXXStarz is our annual global talent competition and the first one will be launching in Spring 2023
We are delighted to be in partnership with Mixtape Madness and Disturbing London — two of the most influential tastemakers in UK music. We will soon be disclosing the name of our head judge, the prize money on offer and just how to enter so do stay connected across our social channels for these announcements.
Wild Awake, a curated project by Sound of Fractures on TokenTraxx
TokenTraxx is pleased to announce that we have partnered with Wild Awake as the first ‘home’ for their innovative experimental project which will be bringing new artists on-chain in the weeks ahead.
Wild Awake is an experiment in scene building as well as an experiment to see what the innovations brought by web3 can do for artists as they explore this new ecosystem which allows them to turn their music into digital assets.
The project begins with high quality, low-edition releases of electronically-minded artists and is set to become a place where music lovers can reliably discover new music they love.
Together with Wild Awake, TokenTraxx provides artists with the support, tools, and community to help them navigate releasing their music on-chain. In doing so we hope to have a positive impact on these artists’ careers while creating a blueprint for others to follow.
Wild Awake has a distinct web3 focus, but has drawn inspiration from forward-thinking labels such as Warp, Young Turks and Ninja Tune as well as some of the most forward-looking communities in web3 music including WavWrld, Mashibeats, Zoratopia, Campfire and Future Surf.
“We are not the first to combine music and blockchain technologies. We are also not the first to push for new artists to engage with web3 tools. What we do is to push for a holistic approach combining web2 and web3 into an artist’s career and, in doing so, we build trust with new technologies, both for artists and the fans they bring along. Of course, web3 still has barriers to entry, but our desire for counterculture pushes for experimentation. That’s why Wild Awake was born, to value all artistic expressions and perpetuate them through collaboration, support, and critical thinking.”
Jamie Reddington, Sound of Fractures, co-founder Wild Awake
“Music in web3 needs more places where artists can explore what this new technology can bring to their careers. Wild Awake is one such home, where we help provide artists with their first experiences. In TokenTraxx, there’s another such home with shared values.”
Maarten Walraven, co-founder Wild Awake
Drops
This Spring we have a packed schedule of drops, mentor programmes and campaigns. Here is a flavour of what to look out for now and later in Spring…
Sarah Main
Known for her hypnotic house and disco sounds on the Ibiza scene, Sarah Main launches Keep Tryin’ genesis drop of 44 collectibles on TokenTraxx. The track Keep Tryin’ is an ode to the inspiring web3 artists that Main has encountered over the last 18 months: The 44 holders of Keep Tryin’ will receive a free-mint of Main’s forthcoming web3 release, access to club nights in Ibiza, plus other perks.
PsychoYP
Our collaboration with Nigerian Superstar rapper, PsychoYP continues with the first of our series of mentor programs.
Kwame Kwaten
Get ready for Kwame’s Music Business Insights with music industry legend, Kwame Kwaten. The first drop to utilise our token-gated video feature. You can still access this event by collecting one of Kwame’s incredible Kwanna NFTs. The music business masterclass will take place in May.
Rosa Cecilia
Rising star Rosa Cecilia showcasing her ability to wrap fusion sounds into a concise and punchy record.
Elderbrook
Grammy Award nominee Elderbrook who will announce an innovative event and campaign.
Nervo
Twin sisters and DJ sensations, Nervo will soon partner with TokenTraxx on a groundbreaking NFT drop.
TommyD
Stay tuned to hear first about our co-founder TommyD’s new drop. The project, called ‘Web4’ will be offering BTC music NFTs.
Events
Music in Web3- Launch of the first Dolby Atmos music NFT
Sarah Main and Jonathan Walter’s project, Data Vaeda, releases the first music NFT mixed in Dolby Atmos. The project combines alluring animated visuals with euphoric atmospheric sounds that perfectly marry with the Dolby Atmos technology — moving sound in a 3D environment with absolute precision — providing an unparalleled experience for music lovers and collectors alike.
TokenTraxx and Dolby hosted the exclusive live presentation of the music digital collectible at the Dolby Studios in London on Saturday, 1st April.
TokenTraxx presented a web3 music room at The Holy Art Fair — Thursday 30th March — Saturday 1st April.
A dedicated TokenTraxx Room featuring :
- Audio/visual showcase of TokenTraxx recent drops
- Exclusive access to TRAXXSTEMZ & TRAXX PROTOCOL videos
- Augmented Reality layer to Sarah Main’s artwork
- Live performance featuring multidisciplinary Maeve Moayedi & multimedia artist Saira Jamieson
https://www.timeout.com/london/art/what-to-expect-from-the-holy-art-fair
