TommyD is an award-winning British music producer who has worked with Kanye West, Jay Z, Adele, Beyoncé, Janet Jackson, Emeli Sande and others. He joined blockchain in 2016 and “fell in love with the technological concepts and core philosophy of decentralization.”
But he admitted that he did not see the technology and the music industry properly eavesdropping at the time. It was then that NFT gained momentum when it realized the true potential this technology could offer artists. In 2021, he co-founded Token || Traxx, the NFT marketplace for musicians.
Tommy, you have a great experience in music. When and why did you enter the blockchain field?
I’ve been fortunate to work with great artists, from Kanye to Kylie, and I’m an artist myself. We are all close to seeking recognition and support from local communities who enjoy our work.
Throughout my music career, I have always been fascinated by creativity and collaboration and have found the same energy in the blockchain space.
When I learned about blockchain technology, I couldn’t see how the openness and exposure that blockchain technology provides fits in with a traditional industry that, frankly, is built in part on controlling money stuck in royalty distribution pipelines. .
Then the non-fungible tokens (NFTs) appeared, and that was the solution. The ability to use Providence and openness to a unique concept, song, track, and VIP experience means that music creators can communicate directly with their fans on a much deeper level and build new perceptions of value in relationships. And collectors can exchange this value for the first time, so it’s a win-win for both parties.
Why did you decide to launch Token || Thrax? Tell me about creation.
The music streaming industry is a gift for fans, it has more music than anyone can listen to in their life, but unfortunately the way it works is not financially beneficial for music creators.
I had a feeling there were opportunities for music and blockchain, but I haven’t seen anything in the market that uses blockchain that I felt would respect the concepts involved in discovering and integrating music. So I decided to start a company that would put the value of music first and cryptocurrency second. This is not a blow to technology, I love technology, but sometimes tech people don’t understand the basic concept of why someone in the real world would need their product!
I’m joined by Miles Leonard, former Chairman and CEO of Warners and EMI. He helped develop the careers of Coldplay, Gorillas, Radiohead, and many other artists. We have worked with music makers for 25 years. We understand them, speak their language and know their pain points. icon || Traxx can help them develop a Web 3.0 strategy to take their music to the next level.
What is a token? Trax business model?
Our model is based on selecting top artists who are ready to give their fans a whole new music experience based on blockchain and NFT. Our team supports these music creators to make sure we run the best campaign possible in the long run, and we consider it a campaign. We’re not interested in creators who just come in and take the money. We are talking about 6 to 12 month cycles. The crypto community is not stupid. If you enter their room, you must enter with respect, imagination and commitment.
This is really the future. I’ve seen it with internet, iPhone and live streaming. When technology provides a new, cleaner, and more intuitive experience, it is only a matter of time before the masses turn to cotton.
More info about the symbol || TRAXX here
Right now, the music maker really needs a Web 3.0 strategy, and while it may seem strange to them now, it was no different when they talked to artists 15 years ago about their streaming strategy.
I would like to expand this area of the blockchain, I strongly believe, and the only way to do that is to get an education and eventually succeed. It’s a fairly simple game to get a content creator in Web 3.0. I mean who doesn’t want extra cash? But the creators have to sell it to their fans, which is much more difficult. Why does a fan need an NFT and why does your NFT faucet make an NFT? icon || Traxx has the team and strategy for that.
What plans and updates does the code make || Does Traxx have plans for the near future?
What we started with is just the beginning. We are a tech company that tries to innovate in every aspect of how music is made. There are many areas such as data collection at source, music recording, traditional royalty payments, direct on-chain payments, etc. In ten years, I see a world where more and more industries that use music will develop.