βοΈUtility
$Sound's Utility within the ecosystem
SOUND token sits at the heart of the Soundwork ecosystem. It supports the creation, promotion, revenue sharing, and rewards distribution, ensuring the required incentive mechanisms across the music supply chain.
Some initial use cases that provide Utility to the $SOUND token are:
Earning $SOUND Tokens by:
Minting Sound NFTs
Selling + Leasing Music NFTs
Curating + Sharing Sounds
Promoting upcoming Artists
Voting on Governance Proposals
Spend $SOUND Tokens on:
Music and SNFTs Promotion
Newly Minted SNFTs can be promoted in the MarketPlace's Top Banner by using the $SOUND Token either as payment or by leveraging the stake.
On the Soundwork Marketplace (Buy Sounds + Tools)
Premium Membership (Available also by Staking $SOUND)
Exclusive Features + Remix Competitions
Tipping Curators and SoundWorkers
With its multifaceted utility spanning distribution, remuneration, payments, and value retention, SOUND Token emerges as the crossroads of the Web3 and Music industries.
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