Building a community-driven platform that generates value for artists and collectors has been our core objective since day 1. A few weeks after launching Pianity, we introduced our Profit-sharing NFT: an innovative reward-distribution methodology that incentivizes long-term collectors to keep collecting. With it, every collector on Pianity receives a weekly reward proportional to the size of its NFT portfolio.
Over the months, as our community grows and Pianity evolves, we improved our profit-sharing methodology. We’re very proud to be distributing each week, 50% of Pianity’s collected fees to the members of our community.
Why would we do that?
The music industry is broken and we are on a mission to fix it. Everyone helping us to bridge that gap should be rewarded at least as much as us. With this philosophy, we’re the only Profit-Sharing community in the music industry!
From Profit-sharing NFTs to Profit-sharing community
By creating PianityDAO, we went a step further in providing sustainable economics for artists and collectors. Being a community is being able to participate in the decisions of the platform. In PianityDAO, contributors earn tokens that give them fair governance rights and access to financial rewards generated by the usage of Pianity.
Voting power in PianityDAO is determined by how many $PIA a person holds and how long she stacks these tokens. In PianityDAO, voting power for community decisions like what will be the next track sold as NFT is calculated as lock time (2 weeks = 1 vote) multiplied by token quantity. This mechanism ensures that even smaller token holders influence how their community functions — if they commit to holding their $PIA for long enough, they can have just as much power as the big holders in that community.
Profit-sharing communities are a totally new business model for Web 3.0, and as we keep implementing new functionalities on Pianity, we offer the community new mechanisms to earn rewards like our Leaderboards, that rewards users on their activity on Pianity (bidding, referrals, track moderation in the waitlist, etc..)
More recently, we created the $PIAdventure, kind of a “contribute-to-earn” system that rewards in tokens every contribution of our members to the success of the platform. It allows people to receive rewards proportional to the commitment and the effort each one put in Pianity. From social contribution to content creation, challenges, or helping other community members, every action deserves a reward.
Yet, this is only the beginning in our journey to fix the music industry. But as NFTs are on the path to be the next standard for music, we’re glad to be the first Profit-sharing community building the fairest ecosystem for artists and collectors. Soon, there will be more ways to contribute and receive rewards.
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