The benefits of token creation for artists and fans

Apr 26, 2022

           Since the COVID-19 pandemic, many business models have changed perpetually. More than before, companies, entrepreneurs of all kinds, and also artists in various sectors modulated to go digital, to participate or be part of a society that demanded such a change.

Once again we can visualize the creation of tokens as one of the most capable tools to bring any business model to the digital plane in a more secure and transparent way. William Mougayar, the author of the book 'The business blockchain', defines tokens as a unit of value that an organization creates to govern its business model and give more power to its users to interact with its products while facilitating the distribution and sharing of benefits among all its shareholders

Now, we know that tokens are a tool for digitization, but do they really benefit those who buy them or just the token creators? Let's delve a little deeper into the benefits for fans and creative artists.

Can tokens benefit artists?

          The short and simple answer is: yes. A token or personalized digital currency has the ability to give more control to its creators to use it in different ways. Whether to receive or pay for a job or to share exclusive content as an incentive. It can also function as a gateway to extra services or a better user experience. A token can function and have as many features as the person who creates it decides, and since they are in full development right now, there are really no limitations to what could be achieved with them.

Anyone looking to develop their artistic project, whether as a solo musician, a band, an actor, entertainer, comedian, or influencer knows that it is essential to have the right people on their team to succeed in the industry and stand out in the artistic field in the midst of fierce competition.

The figure “manager”, had the tendency to be considered as one of the most important people in the development of an artistic activity, since they are responsible for speaking for the artist to the world, making business decisions for an artist, and even many times decisions about their creative processes. It is even customary to consider that choosing a good manager can be determinant to take your career to success.

Nevertheless, because of these freedoms and greater control that tokens can provide, and thanks to the platforms that allow direct interaction with supporters, companies that previously provided services as intermediaries are forced to offer more excellent services and extra value in order to compete with this technology.

Can tokens benefit fans?

          Because tokens are a connecting tool between artists and creators, tokens can benefit fans in multiple ways. One of the best and most interesting is that through tokens fans can have more direct and even personalized access to the content their artists create. It is no longer necessary to go to second-hand stores, sometimes a bit dubious to get an original signed discography or products of your favorite brand. A fan can go to their favorite artist's store and directly receive certified material through blockchain technology, paying with cryptocurrencies.

Of course, the tokens also make it possible for fans to be sure that they are direct benefactors and supporters of their favorite artist because they are paying them directly and not third-party intermediaries.

Tokens support multiple layers of value within them, so it's up to the designer to decide what a particular token has inside it, it means that the content that can be shared through them is multiple as well: services and products such as tickets to a concert, an original book with a signature, a painting, a recorded message and more. All special and valuable.