TRAX price

TRAX

#3721

What is TRAX?

TRAX is a next-generation music application that empowers artists to release music directly to their fans, capture audience data and earn in new ways. Powered by the Internet Computer, TRAX enables peer-to-peer transactions in Bitcoin, ICP and the native $TRAX token.

TRAX DAO is the governance layer for the TRAX platform. TRAX DAO operates on a stake-based governance system on the Internet Computer blockchain; an advanced form of DAO that provides token holders direct access to funding proposals.

TRAX DAO engages token holders to fund new web3 tools for music artists. Existing infrastructure includes: - Audio/video upload and streaming - Peer-to-peer payments in FIAT and crypto currencies - On-chain audio content storage, via Internet Computer - Data capture and analytics on audiences

$TRAX token utilities include: - Governance - vote on proposals that dictate the development of TRAX - Staking - stake tokens to engage in governance and earn interest - Payments - unlock content, support artists directly - Grant funding - funding for emerging artists

Cryptoasset details

TRAX launched its DAO via a token swap on 23rd December 2023, distributing 250 million [250,000,000] out of 1 billion [1,000,000,000] tokens. TRAX is currently available on LBank, ICPSwap and Sonic.

Who are the founders?

TRAX was founded by Tom Stuart, Henry Wilson, and Oliver Francis in October 2022 as a direct-to-fan solution for music artists. The DAO was founded in December the following year.

Tom graduated with a law degree in the UK in 2020, followed by a successful exit from a FinTech startup in 2021. His career has since closely tracked developments in Web3; building new automated DeFi technology, and now bringing new insights to the music industry.

The team has procured media placements and brought new press attention to Web3 and music, leveraging their expanding network. These include leading publications Music Business Worldwide and Wonderland Magazine.

What makes TRAX unique?

TRAX is adapting the Web3 proposition for a wide audience of artists, superfans, and daily listeners. By delivering a range of tailored commercial tools and refining its audience through targeted promotion - including Web3, Web2, and live campaigns - TRAX continues to nurture a considerable market share and onboard users to Web3 through highly sympathetic sentiments and appeals to hardcore fans.

Leveraging the Internet Computer, TRAX empowers creators with carefully timed interventions to enable data collection, and eventually, direct sales of early and exclusive music. The project is unique for its integration with conventional institutions and voices in music, both at the advisory and commercial level, enabling rapid deployment of new and targeted Web3 products.

TRAX’s ‘SNS’ DAO infrastructure is provided as a service by the Internet Computer network. TRAX leverages SNS to prioritise decentralisation and flexibility while keeping maintenance as automated as possible. SNS offers token-holders preferential access and insights to the project’s governance, preserving holders’ interests and buttressing $TRAX with tangible commercial applications.