Sonorus is a web3 platform that seeks to change the future of the digital music industry and reward artists and music lovers. It uses a decentralized music voting system, TrendFi, which allows fans to earn by supporting their favorite songs while also helping musicians get the rewards and recognition they deserve.
The project developers invite us to think of Sonorus as the IMDb of digital music. For example, the world’s most popular online database of everything related to movies and television series is not a streaming service. However, it attracts almost 1.2 billion visitors monthly.
Instead, the website is a directory that promotes film productions and measures user preferences to indicate the latest industry trends. It does not earn income from copyrighted content, but from the added value that users bring to the platform by promoting or supporting it.
Sonorus seeks to be like IMDb for music, a renowned authoritative source with a palpable impact on the digital music landscape. It does not stream copyrighted songs and functions as a directory that promotes and measures trending sentiment while rewarding users for genuine interactions.
A new way to make money with music on web3
Technology has come a long way, driving innovations like blockchain, cryptocurrencies, and non-fungible tokens (NFTs). However, some standard practices with global representation, such as the music industry, remain rooted in outdated mechanisms.
Today’s streaming services have taken over music, neutralized fans’ passion, and prevented artists from getting the recognition and revenue they deserve.
Sonorus seeks to empower music lovers around the world by allowing them to vote for their favorite songs and earn rewards when these tracks gain popularity.
The platform allows musicians to showcase their creations, receive transparent feedback from the audience, and earn fair rewards. As it is, Sonorus sees music as more than just the art we enjoy producing or consuming. He sees it as an opportunity for both creators and fans.
How does it work
Sonorus has more than 200,000 users who can nominate their favorite songs on the platform. Instead of the number of plays and likes, a song’s popularity depends on the votes it receives. The more people who support you, the higher you will climb on fan-driven music charts and the greater the rewards for your followers.
The platform’s proprietary on-chain voting system, TrendFi, ensures decentralized, transparent and fair appreciation of songs. It also ensures that artists get accurate recognition of their creations.
Each new song on the platform starts with a base price of 0.0002 BNB. Receiving a vote automatically increases your value by 0.000002 BNB. Conversely, when a user withdraws their support for the song by selling their vote, the price of the song decreases by the same amount.
The basis of TrendFi arises from the laws of supply and demand. An increasingly popular song will bring more rewards to its creator and fans.
Meanwhile, a track must gain community support to maintain value, including potential rewards.
Fees and rewards
Nominating a song on Sonorus carries a fee of 0.01 BNB, ensuring that users do not waste resources proposing fake or low-quality content.
The platform incentivizes nominators to explore and submit potential hits with a fixed 5% share of all votes received for a song they nominated. Users can select their favorite songs from Spotify, YouTube and Soundcloud on Sonorus.
This process automatically activates tracking for community voting. That’s the first step in the song’s journey to the top of the Sonorus music charts.
Additionally, artists can directly upload their music for free to Sonorus.
In return, they get genuine community feedback and greater control over their income. The platform also rewards them with a predetermined percentage of all on-chain interactions. This potential earning has a fixed rate, but could soon become customizable, giving artists the autonomy to decide.
Sonorus Tokenomics
The SNS token is native to the Sonorus protocol. It gives holders governance power, allowing them to have a say in the future of the platform. Additionally, SNS allows them to stake their holdings, thus accessing more income opportunities. The Sonorus team has established a total supply of 1 billion SNS.
Those looking to become more influential on Sonorus can purchase and hold the platform’s DJ Node tokens. These NFTs provide their holders with exclusive access to platform benefits, utilities, increased governance weight, and other benefits such as airdrop opportunities. Additionally, it entitles them to daily SNS rewards, which started on October 1, 2023.
DJ Node tokens are currently available for purchase through the Sonorus website.
What’s next for Sonorus?
Sonorus launched in 2022 and attracted considerable support from major brands in the industry and beyond.
Its previous seed funding round was successful, raising $2 million from major investors such as Hashkey, Mask, and Y2Z, among many others.
The developers launched the “Mercado Libre” project as part of the platform’s initial features, proposing a new pricing mechanism for music records. More precisely, the value of your music record increases every time more people buy it.
Next, the team launched the “Infra Upgrade” project, which allows users to log into the platform directly with their crypto wallets. Newcomers without a crypto wallet can create one by signing up with Sonorus, thanks to the platform’s collaboration with Particle Network.
Another milestone in the development of Sonorus was the Musical Artists Portal. This new platform is dedicated to all artists and allows them to submit and publish their music through the Sonorus protocol. Meanwhile, the platform’s Music Launchpad lets the community decide what music appears in its directory.
Recently, Sonorus launched the DJ Node token to grant buyers exclusive benefits within its mission to reshape the decentralized music landscape. DJ Node holders can access unique privileges to support new music releases on Sonorus as part of the platform’s “Talent Scout” project. Additionally, they will enjoy future revenue sharing if the music they promote is successful.
Next, the Sonorus developers have set their sights on several developments, including:
- SNS token airdrops to reward your loyal and active music fans.
- Social features allow users to create their social profiles on Sonorus.
- More weight on profile discovery for DJ Node holders, making it easier for others to find and recognize your work.
- Loyalty rewards for members of the Sonorus community, especially SNS and DJ Node holders.
Sonorus seeks to achieve the same global dominance that IMDb enjoys in the film sector but within the digital music landscape. More importantly, the platform is creating more than just playlists. Instead, their goal is to lead a movement where music charts reflect the collective voice of a fan-driven community.
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