In July we released the first Ujo artist badge with the purchase of RAC’s Ego. The concept of that release was to do something different in order to truly show the potential what we’re doing at Ujo and what blockchains are capable of. Although the transfer was not automatic at the time, when you purchased Ego, you received 1 EGO token. There have been 138 tokens issued so far and we plan to keep issuing tokens as long as the album is for sale. If you purchased the album, check your MetaMask account and you’ll see this token in action. You may be asking yourself, “what does this mean? Is this token even worth anything?”
The short answer is no, 1 EGO token has no monetary value at this time. To RAC this token means quite a bit. It means you supported RAC in testing new technologies, supported his work, and were willing to jump through a few hoops to get an album you could have streamed through your favorite music service. At the moment it doesn’t do anything but it does let RAC know that 138 of his fans were willing to go one step further than anyone else. In the future, this could mean a lot more than it does today.
Too Real
On October 20th, we are releasing Giraffage’s new album, Too Real, on Ujo. With the purchase of the new album, the user will automatically be issued a TRL token to signify their support. TRL token holders will automatically be entered to win a merchandise pack straight from Giraffage himself. We’re only going to have a few winners but we are testing the waters of what is possible with tokens and overall fan interest in physical items. One purchase of the album gives the buyer one TRL. If you were to somehow convince every TRL holder to trade you their tokens, you might have a much better shot at winning the merch pack.
Quantifying Culture
In today’s world, it’s easy to ‘like’ an artist on Facebook, follow them on Soundcloud, subscribe to them on Spotify, etc. But what does this really mean? How do I know if you actually like half of the 50,000 pages you “like”. Moving past a “like,” how do I know that you actually support new music, new artists, and are actively trying to increase the amount of music that comes into the world? The current answer is that I don’t. I don’t know if you’re a casual listener or a power player in the industry. I might not trust your taste or your playlists, but we’re trying to change that. The use cases for artist tokens are almost unlimited. From early access to tickets, exclusive content, previews of new music, limited merchandise, and more. This is just the beginning and we’re excited to show you what’s in store.
