what is Play As You Go™ on token.FM
token.FM reintroduces the jukebox style of playing music with platform credits. A fan or artist enters the ecosystem by paying for a plan or bulk credits with credit card or bitcoin. These credits are custom to token.FM and not transferable, but also never expire. A credit is roughly 1¢.
Fans: Redeem credits to stream or buy media or other items. Fans only pay for media they haven’t already bought on token.FM with stream rates set by the artist. Once they buy media or artist tokens they also get access to perks. Perks are set per artist and can include private artist chats, discounts, emojis, VIP experiences, etc.
Artists: Redeem credits to upload tracks, tokenize their media, to purchase additional chats or features, and as a transaction fee for eCommerce sales if they operate a store. Tokenizing media is what enables the artist to set a limited volume (create a collectible), associate perks, and allow token transfers/rentals by the fans.
Artist payouts: When a fan spends money to stream, buy, tip or back an artist, 80% of the proceeds go to the artist in the form of ‘revenue credits’. An artist can cash out once they hit a 5,000 credit ($5 USD) threshold into bitcoin and shortly other financial services. You can also have the revenue credits split across multiple parties (royalty splits) which can include band members, managers, license holders, charities, early backers or investors, etc.