FAQ

BitSong is a blockchain-based ecosystem fully designed to empower the music industry. It's a decentralized ecosystem of services providing the global community of artists, fans and music providers with a trustless music marketplace that becomes the industry's point of reference.

The leading streaming music companies have been routinely accused of treating artists poorly through duplicitous contract structures and low payments. All of that has created a low-trust environment and confused artists and fans over whom to support.

Give back the power to the music! Our mission is to decentralize the music sector by simplifying the bureaucracy to offer artists a meritocratic, transparent, fast and intermediary-free earnings model while users gain a new way to listen to music and earn.

BitSong is a new way to engage with your artists. Users have a single platform for streaming/downloading music products, receive rewards for their activity, interact with artists and support them, buy NFTs, buy and sell Artist Fan Tokens and become music investors.

Artists can tokenize their music and restore a new equilibrium where art, real engagement, and passion wins. They now have royalties in real-time and new revenue streams since they own an economy based on tokens and NFTs.

In BitSong, labels and distributors are entirely decentralized. Opening a new label, managing talents and recruiting new artists is now easier and more efficient. Thanks to blockchain technology, labels and artists earn real-time royalties and can create and sell NFTs.

BitSong is an ecosystem of services aimed at the global community of artists, fans and music providers with a trustless music marketplace. BitSong aspires to become the main landmark in the music industry. You can invest in music projects, selling and buying shares, being part of the governance of BitSong and of course buying and selling BTSG cryptocurrency.

You can run a full node to earn BTSG for validating transactions, and vote on governance proposals.

It's the Artist Coin! Artists and Labels can tokenize themselves and create their own economy in the BitSong ecosystem.

Engagement becomes a currency of exchange between musicians and fans who establish a relationship of trust and contribute together to the success of musical projects and products.

Through the Fan Token system, the Artist earns everything they have always wanted and claimed: close contact with fans, having the opportunity to independently finance their own projects, acquiring the right notoriety based on the success of their brand and songs, and getting the right rewards for hard work.

Yes, it works the same as cryptocurrency! The economic value follows the BTSG index and of course the Artist progress.

Staking is like entrusting your BTSG. You can gain interest just by putting your BTSG into staking and earning passive income from it.

You can immediately claim your rewards anytime or request to collect your BTSG from staking. This request will be accepted in 21 days. This parameter follows the BitSong community rules.

Everybody can hold BTSG funds in their wallet, stake their coins and start to earn rewards.

A Validator is like a big decentralized notary for the blockchain. In BitSong we have more than 50 Validators, a really huge number compared to other blockchains. For example, if you are trying to do an incorrect action or give a wrong input, Validators will block you to protect all the BTSG owners.

The governance is a form of direct democracy through on-chain voting mechanisms. In BitSong, rules are made by the community. Those who are part of the ecosystem propose and vote on BitSong laws.

The Community Pool is a fund composed of 2% of the total amount of BTSG.