The core of the encryption industry is “decentralization” and “ownership” confirmation, which enables it to reshape production relations and empower different industries to a greater extent.
When NFT becomes mainstream, everything can be NFT. NFT auctions, NFT blind boxes, NFT series works, such information is constantly flooding our field of vision, and bystanders will also pay attention to NFT because of idols or stars. The future unicorns must come from NFTs.
P2E and W2E in the crypto market
With the popularity of NFTs, Axie Infinity, an encrypted game launched by Vietnamese developer Sky Mavis, also officially came out of the circle. Axie Infinity is a blockchain-based game in which players buy NFTs of little monsters and control them to fight. Players can earn tokens during the game, which forms a game mode of “earning while playing”, namely P2E (Peat-to-Earn). With the popularity of Axie Infinity in developing countries, the P2E model has become more and more popular, and many users in developing countries have obtained good remuneration by playing Axie Infinity games.
W2E (Wreat-to-Earn) is a new type of decentralized economy, which evolved on the basis of the P2E business model. In W2E, with the help of a suitable decentralized platform, creators are incentivized to create content, mint NFT and sell it, and allow the public to participate in interaction and access works, so that their value can be realized in the ecosystem.
Monaco Monaco Planet is a SocialFi social platform. Users can display their NFT collections on the platform, and can also share and create content, and earn money while writing on the platform. According to the interest and popularity of the content, content creators will be discussed and liked by other users, and they will also be rewarded to achieve Write-to-Earn.
Based on the basic model of P2E and W2E, Wom has created a new model of L2E (Listen-to-Earn) music by combining music, NFT and DeFi.
What kind of platform is Wom
Wom is a music NFT platform under Wom Labs. By combining “blockchain + music” perfectly, it creates a new music creation platform in the Web3.0 era. Help creators to mint a certain number of NFTs that conform to the ERC protocol standard and store them permanently on the public chain, encouraging contemporary musicians, creators, producers, and music lovers to share and create purer music works.
Wom uses blockchain technology to solve many practical problems faced by the traditional music industry, allowing the music industry to gain new vitality.
The entire ecology of Wom will be implemented in stages around modules such as Wom Node, music NFT, and L2E.
Wom Node is the foundation of Wom world leading to Web3.0. According to a certain number and ratio, it is deployed in different regions of the world through distributed technology, and distributes music to the terminals of each music fan, ensuring that music fans in any region can Can listen to smooth, high-quality music. Users can establish a connection with the Wom world through Wom Node, and it is continuous and permanent.
Wom and NFT
Wom helps creators mint a certain number of music NFTs that conform to the ERC protocol standard and store them permanently on the chain. Creators and musicians use the Wom platform to easily issue NFTs without having to use a third party to directly interact with fans and release albums.
In Wom’s world, music NFTs are musical products that can be collected, traded, rented or sold, allowing music lovers to own a portion of the original music they purchased, creating value for the Wom world.
So, what is another important part of Wom – L2E (Listen-to-Earn)?
This article helps everyone understand what L2E (Listen-to-Earn) is, how to participate, and the value it brings to users.
Birth of L2E
In the P2E mode, players can acquire game assets or token ownership by recharging and playing games. In the W2E model, creators need to create content in order to receive revenue. It is not difficult to see that in essence, these two modes require players and creators to pay a certain price of material and time. To break the circle, these two modes need to be more popular and popular.
Alipay users under Alibaba can get sports coins through Alipay sports, which can be used for lottery draws, exchange for physical products or coupons, and some separate sports coins can be used for public welfare donations. Alipay is different from P2E and W2E, it can be easily realized in daily life without deliberately spending material and time.
On the basis of the above model, Wom brought the innovation of L2E (Listen-to-Earn) model in the music industry. L2E eliminates time, geographical and other restrictions. As long as users have mobile devices, users can listen to songs on Wom anytime, anywhere. If the listening time and song type standards are met, Wom will give corresponding rewards. NFT realizes bonus bonus.
Earnings performance of L2E
In the Wom world, L2E users can earn income by listening to or sharing music for free, and their income is reflected in WOM points. WOM points coins cannot be circulated in the secondary market, but can be exchanged for peripherals, albums and other physical objects in the Wom platform, and can also be directly exchanged into the tokens of the Wom platform – EWOM coins. EWOM coins can be used to buy Wom Node and Wom platform. In addition, it can also be exchanged for other currencies or circulated in the secondary market. However, it should be noted that in order to ensure a good music ecology in the Wom world, the WOM credits will be cleared every year.
Level up of L2E
EWOM coins, listening song types and corresponding upgrade items can improve the L2E user level. The higher the level, the more income earned by L2E users, and different privileges and gameplay will be unlocked, such as: specific Wom store permissions, hidden creative easter eggs, access to rare whitelists, Pass cards, NFTs in the Wom world, and participation in Wom Certain music events in the world, etc.
Circular ecology of L2E
The new L2E model provides a new value play for music listeners who have not participated in the construction of early nodes and who do not hold music NFTs in the Wom world. Wom allows everyone involved to find value in the decentralized world of music, especially those who just want to focus on what they love. Wom will also give special rewards to L2E users who have made special contributions to the Wom world. When content consumption becomes a value investment and gains are made from hobbies and tastes, the music experience will also enter a new stage.
In an open context, the combination of music and making money will make more and more people interested. Whether it is the just-starting Wom or a blue ocean music NFT sector, the future development is worth looking forward to.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/wom-leads-the-new-way-of-listening-and-earning-music/
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