The Use of Digital Tokens to Increase Fans

By January 27, 2017December 10th, 2017Blockchain

In the current world of gadgets and endless stream of news and titbits of information, many people’s attention currency is deficit

This makes it hard for new artists to get in front of potential listeners of their music and develop their fanbase.

This means that in order for independent musicians and artists to be successful, there is a need to find an alternative way of reaching and engaging potential fans to an artist’s music and create the right mechanisms for fans to spread the messages of support to others who may be interested in listening and buying the artists’ music

The use of the digital tokens provides an innovative and exciting way to develop a passionate fanbase by making them part of an artist’s success and to share in that success by the reward of tokens

Digital tokens in the context of BlockChain technology and the music industry would work like this:

  • Using a BlockChain enabled platform such as Zimrii, the artist can issue tokens to their fanbase via the platform
  • The fanbase will invest in the artist by paying to receive tokens that have been issued by the artist. This validates the belief in the artist by their fans and provides funding for the artist to continue to produce music
  • The fans if they so wish, can transfer the tokens to others (either in return for something or as a gift). Alternatively, they can hold on to the tokens
  • The value in this, is that as the artists music gets more recognition and has more sales of their music, the value of the tokens increase
  • As a result, the value of the ‘investment’ in the artist by the fans goes up. Think of it as holding shares in an artist which increase in value
  • As an artist’s music career grows and flourishes, then the fans have a direct financial benefit in that success

We believe that the use of tokens, represent an innovative approach to enables artists to create increasing loyalty with their existing fans and to attract new ones who want to share in an artists success

Mo Jalloh

Author Mo Jalloh

More posts by Mo Jalloh

Leave a Reply