Road Town, British Virgin Islands--(Newsfile Corp. - November 25, 2024) - In a significant move for cryptocurrency enthusiasts, LBank Exchange, a premier global digital asset trading platform, has announced the listing of TRAX (TRAX) on November 18, 2024. The TRAX/USDT trading pair (https://www.lbank.com/trade/trax_usdt) is now available to users of LBank Exchange.
TRAX Listing Banner
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8831/231279_b5e8d65574539ab4_001full.jpg
The music industry is undergoing a seismic shift as digital platforms redefine how content is consumed, distributed, and monetized. As the landscape evolves, there is a growing demand for platforms that empower artists and bring them closer to their audiences. This is where TRAX steps in, aiming to disrupt traditional models with a decentralized, artist-focused ecosystem.
TRAX: Revolutionizing Music Monetization with Web3 Innovation and Fan-Centric Empowerment
TRAX is a decentralized platform designed to empower musicians by providing tools to monetize their art directly with fans. Acting as a content aggregator, TRAX enables artists to sell exclusive and pre-release materials, such as music tracks, videos, live streams, and merchandise, while connecting with fans through personalized interactions. By bridging the gap between artists and superfans, TRAX offers a holistic platform where musicians can potentially thrive. Whether they are emerging talents or seasoned professionals, artists can use TRAX to forge meaningful relationships with their audience.
At its core, TRAX emphasizes community building and fan engagement. Artists can curate multimedia content - from music to live streams and NFTs - and offer it through diverse monetization models, such as pay-per-view, subscriptions, or complimentary access. Fans, in turn, enjoy a more intimate, rewarding experience through features like fan-exclusive areas, pre-release content, and unique merchandise. TRAX also integrates gamified elements, such as Proof of Presence (PFP) badges, enhancing the fan experience and creating new revenue streams for artists. Through advanced analytics, artists gain deep insights into their audience's preferences and spending behaviors.
TRAX's integration of blockchain technology brings transparency and innovation to the music industry. Leveraging smart contracts, artists can easily distribute royalties among collaborators, aiming to ensure equitable revenue sharing. TRAX's Royalty3 initiative uses decentralized storage to secure content ownership while enabling seamless pay-per-view and tipping functionalities. Artists retain complete control over their content through decentralized canisters, enabling them to upload, manage, and monetize their creative assets without intermediaries. These technical advancements not only aim to enhance security but also establish TRAX as a trailblazer in Web3 music innovation, creating a vibrant ecosystem for artists and fans alike
TRAX Tokenomics
At the heart of the TRAX platform lies its native utility token, $TRAX, which powers transactions and governance. Token holders can stake $TRAX to participate in governance through the SNS proposal system while earning rewards. Additionally, $TRAX can be used to pay for premium content, merchandise, and support for artists. The token supply is capped at one billion, with 25% allocated for decentralization and fundraising, 51% reserved for the treasury, and the remainder distributed among the team (12%), seed investors (9%), and airdrops (3%). By fostering a token-based economy, TRAX aligns its platform growth with the interests of artists, fans, and the broader Web3 community.
Learn More about TRAX:
Website: https://trax.so/
Whitepaper: https://x.com/trax_so
About LBank
Founded in 2015, LBank is a top crypto exchange offering financial derivatives, asset management, and secure trading. With over 12 million users across 210+ regions, LBank ranks in the top 20 for spot trading and top 15 for derivatives trading globally, ensuring fund integrity and supporting global crypto adoption.
Start Trading Now: lbank.com
Community & Social Media:
Telegram
YouTube
Press contact:
press@lbank.com
Business Contact:
LBK Blockchain Co. Limited
LBank Exchange
marketing@lbank.com
business@lbank.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231279
SOURCE: LBank
