TRAX Announces Pioneering Updates, Eyes Decentralisation

As the digital landscape continues to evolve at a breakneck pace, TRAX, a prominent player in the Web3 arena, is setting the pace. In an exciting development, TRAX has announced a series of significant updates that promise to redefine user experience and reshape the music industry’s future.

First and foremost, TRAX has migrated its dApp to operate exclusively on the Internet Computer, a move that underscores its commitment to leveraging cutting-edge technology. This transition is a major leap forward. Users can now look forward to an enhanced experience marked by faster, more secure interactions, and a seamless Web3 experience. This migration is a clear testament to TRAX’s dedication to providing the best to its community.

In a bid to make navigation and discovery more intuitive, TRAX has introduced a new, simplified sidebar. This feature makes it easier than ever for users to explore new releases, discover the hottest tracks, and stay updated with posts and updates from their favourite creators. It’s a small change that makes a big difference, ensuring that users spend less time searching and more time enjoying the content they love.

But the innovations don’t stop there. TRAX has integrated Plug Wallet and Internet Identity as secure sign-in options, significantly expanding Web3 music on the Internet Computer. This integration opens the doors to a potential 500,000+ user base, offering easy access to digital assets, seamless transactions, and enhanced security. It’s a strategic move that not only benefits current users but also positions TRAX as an attractive platform for new users.

The most groundbreaking announcement, however, is the creation of TRAX DAO. This initiative marks TRAX’s transition into becoming the world’s first artist and fan-owned music platform. With plans to launch the TRAX SNS sale, the platform is poised to empower its community, offering them the chance to own and control the future direction of TRAX. This is not just about decentralisation in theory; it’s decentralisation in action, with real-world implications for how the music industry operates.

Music, often hailed as the universal language, is at the heart of TRAX’s mission. With over 600 million people subscribing to music streaming services annually, TRAX aims to harness this universal appeal to bring more than a million new users to the Internet Computer. It’s an ambitious goal, but with their track record, it’s certainly within reach.

TRAX is also reimagining the music business model. Unlike the traditional approach that prioritizes maximum charges to listeners while minimally compensating artists, TRAX proposes a different solution. By tokenizing engagement through the $TRAX token, the platform encourages and rewards genuine engagement, creating a more equitable ecosystem for both artists and fans.

True decentralisation is at the core of TRAX’s philosophy. Many current on-chain music platforms rely on centralised services like AWS, but TRAX is committed to full decentralisation, from content storage to governance. This commitment is set to showcase the unrivalled power of the Internet Computer, transforming the way music is shared and enjoyed online.

Looking to the future, TRAX is gearing up for the launch of TRAX SNS, which will see the platform governed by its artists and users from 2024. The upcoming SNS swap offers the ICPCommunity a unique opportunity to take ownership and steer TRAX’s journey.

With a growing community of over 200 artists, thousands of fans, and passionate developers, TRAX is on a mission to reshape the music industry, one artist and fan at a time. This series of updates and initiatives is not just about improving a platform; it’s about revolutionising an industry, and TRAX is leading the charge.

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Maria Irene
Maria Irenehttp://ledgerlife.io/
Maria Irene is a multi-faceted journalist with a focus on various domains including Cryptocurrency, NFTs, Real Estate, Energy, and Macroeconomics. With over a year of experience, she has produced an array of video content, news stories, and in-depth analyses. Her journalistic endeavours also involve a detailed exploration of the Australia-India partnership, pinpointing avenues for mutual collaboration. In addition to her work in journalism, Maria crafts easily digestible financial content for a specialised platform, demystifying complex economic theories for the layperson. She holds a strong belief that journalism should go beyond mere reporting; it should instigate meaningful discussions and effect change by spotlighting vital global issues. Committed to enriching public discourse, Maria aims to keep her audience not just well-informed, but also actively engaged across various platforms, encouraging them to partake in crucial global conversations.

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