SOMESING price is $0.00083513
The current price of SOMESING Exchange Token (SSX) is $ 0.00083513, which has decreased -11.00% in the last 24 hours. SOMESING has a market capitalization ranking of #2016, with a total market cap of $ 3.0M. Trading volume over the past day has been 5.4M.
SOMESING Exchange, associated with SOMESING app, is a blockchain-based platform where users can enjoy and share their passion for singing. The app offers high-quality karaoke features, allowing users to sing, record, and listen to songs anytime, anywhere. The unique aspect of SOMESING is its token economy, which rewards content creators fairly and transparently through smart contracts.
SOMESING Exchange was launched in 2018 by a team based out of Korea & Singapore. The development team aimed to solve several problems in the traditional karaoke app market and music industry, such as fair profit sharing for creators, quality of the karaoke experience, barriers to paid services, and lack of transparency in copyright and music source supply chains.
At the core of SOMESING Exchange is a token economy which incentivizes users to create and share content. When users upload their karaoke recordings to the platform, other users can listen, like, and share these songs. The app utilizes smart contracts on the blockchain to distribute rewards to content creators. This transparent mechanism ensures that tokens are automatically awarded to users based on the popularity and engagement with their submissions.
What sets SOMESING Exchange apart is its integration of blockchain technology to create a transparent and user-centered economy for music and content sharing. It overcomes common challenges such as unfair revenue distribution and opaque licensing agreements in the music industry. Additionally, the app does not charge users fees for accessing its karaoke services, removing the barrier of paid services while sustaining a quality user experience.
The SOMESING app's token economy is designed to reward users for their contributions to the platform. As users engage with content by singing, listening, or interacting with songs, they can earn SSX tokens. The distribution of these tokens is managed by smart contracts, which automatically calculate the rewards based on the defined criteria, such as the level of engagement a piece of content receives.
The total supply of SOMESING Exchange Tokens (SSX) is 5.0B. Out of this, the circulating supply is currently 3.6B. The supply of SSX tokens is capped, meaning that no more than the total supply will ever be created, which is a common feature for many cryptocurrencies.
Users on SOMESING Exchange can earn rewards by engaging with the platform as content creators or consumers. When users create karaoke content that others enjoy and interact with, they are awarded SSX tokens. Consumers also have the chance to earn tokens by actively participating on the platform, such as by listening, liking, and sharing content.
SOMESING Exchange Tokens (SSX) can be purchased on various cryptocurrency exchanges. You can check the list of available exchanges for SSX on the platform's official website or through market aggregators that track cryptocurrency exchange listings. Remember to do your due diligence when choosing an exchange to buy tokens.
To keep your SOMESING Exchange Tokens (SSX) safe, it's recommended to store them in a secure wallet. Many users opt for hardware wallets for extra security, as they store tokens offline and are less prone to hacking. Additionally, always make sure to follow best practices for digital security, like using strong, unique passwords and enabling two-factor authentication whenever available.
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