🧠Rationale

Why do we need a token?

Given the exponential amount of new cryptographic tokens that have reached the market since 2017, this question has increasingly been at the center of the discussions around Web3 projects.

In our case, The SOUND Token is the key to the entire ecosystem.

It serves 3 main purposes

• Governance Token

  • $SOUND token holders influence the platform’s direction, feature updates, and Sound NFT highlights within the Marketplace.

• Utility Token

  • Users of the network earn $SOUND by Minting SNFTs, Curating Sound elements, and promoting Creators and Musicians

• Settlement

  • Sounds can be listed and sold in several tokens, but all final transactions will be settled in $SOUND, creating an underlying need for the token as an integral settlement layer for internal trading activity.

The $SOUND Token is the Bloodline of the Soundwork Ecosystem

The SOUND Token is the lifeblood of our ecosystem, serving as a governance, utility, and marketplace settlement. As a SOUND token holder, you have a say in platform direction, feature updates, and genre highlights. The token also powers music distribution and revenue share on Soundwork, establishing it as the essential settlement layer for all our musical supply chain transactions