The AmplifyWorld White Paper: Breaking Down AmplifyWorld’s Token Economy

With over 100,000 artists and 3 million fans using AmplifyWorld annually, we are now ready to introduce the next phase of our mission: our token economy and $AMPS – in-platform tokens that are uniquely positioned to facilitate artists’ journeys as they navigate the challenges of today’s music industry.

What are the main challenges for independent artists?

Ask any independent artist what their biggest obstacle is at the moment, and the majority will undoubtedly say money. Traditional revenue streams, such as streaming platforms, often yield minimal payouts, even if an artist is generating millions of streams per month. Moreover, social media and streaming companies own all fan data, leaving artists with little or no control, or worse yet, no knowledge of who their fans really are.

The solution?

AmplifyWorld is committed to providing a decentralised fan engagement platform where artists can own their fan data and marketing analytics. In this way, artists and their teams can better engage with fans across all platforms, from all across the world – converting casual listeners into bonafide superfans.

By gamifying the music experience and leveraging Web3 technology, our platform facilitates direct communication between artists and fans, completely eliminating the need for gatekeepers. The next phase, the inclusion of a utility token, will continue to adhere to this mission – and take it one step further.

So how can our token economy and $AMPS be used?

As the platform’s fungible currency, $AMPS powers transactions within the AmplifyWorld ecosystem, enabling fans to engage with their favourite artists, purchase concert and festival tickets, buy merchandise, and much more.

You can primarily earn it by promoting the artists on our platform. Token holders can earn $AMPS by engaging with artists and bands through various platforms – both online and offline. From sharing content, participating in social media campaigns, and organising fan meetups, the use of $AMPS makes these engagements more valuable, encouraging active participation within the community.

On the other hand, they can be used as a form of payment for artist merchandise – such as limited edition items, artist collaborations, or exclusive pre-order benefits – as well as tickets for concerts, festivals, or exclusive meet-and-greets. These experiences – only available to token holders – will add a sense of scarcity that hypes up the artist while adding value to the $AMPS ecosystem.

For artists, the AmplifyWorld Token provides monetisation opportunities, whereby they can generate revenue through merch and ticket sales within the AmplifyWorld ecosystem. Furthermore, artists can finally leverage true engagement, which, unlike likes on social media platforms, can drive sustainable income streams. What’s more, artists also have unique opportunities to create their own tokens, continuing to personalise the fan community experience!

For more information about AmplifyWorld’s token economy, head to the AmplifyWorld White Paper.