BitSong
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Fan Tokens
What are Fan Tokens?
Fan tokens are a brand new phenomenon already making waves in the sports sector. A fan token is a cryptocurrency issued for the benefit of star performers — whether that’s a world-famous rock band, or an up-and-coming solo talent — and their fans.
Why does the music industry need fan tokens? Because they allow any act or artist to create their own economy, generating new ways to monetise their music and brand, and providing a unique and innovative channel to engage with fans.
BitSong’s Fan Token module allows artists to mint their own branded tokens for any purpose. But here are a few ways that they can be used:
Create a loyalty program allowing fan token holders privileged access to exclusive content such as unreleased materials or behind-the-scenes interviews
Crowdfund a tour or studio album and revenue-sharing with token holders
Give fans the opportunity to vote, for example, on the song lineup for a gig or on the cities for an upcoming tour
Accept fan tokens as payment for NFTs
The BitSong Fan Token module enables any artist to start minting their own fan tokens and list them within a few minutes, for low fees. BitSong also stands apart from other fan token platforms by offering the opportunity to link BitSong Fan Tokens to social profiles, such as Twitter.
Last modified 6mo ago
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