what's Songcoin?

Songcoin refers to a tokenized format for music releases on the Coop Recs platform, enabling the trading of individual songs as crypto assets. Launched to integrate blockchain with music distribution, it allows artists to release tracks as limited-edition tokens, providing fans with ownership and potential royalties while bypassing traditional streaming limitations. The system emphasizes accessibility, allowing users to engage without advanced crypto knowledge, and focuses on viral hits to foster direct artist-fan economies. Technically, songcoins operate as NFTs or fungible tokens on a blockchain, with each representing a specific track from a growing catalog of over 750 songs. Releases occur weekly, starting with collaborations from established artists, and the platform handles minting, trading, and scarcity mechanics to enhance value for collectors and creators alike.

Songcoin launched its first token, $IJN, a collaboration by artists imdanielallan and lyrah.