SOMESING: The Blockchain Platform for Singing Content Creation and Sharing

SOMESING: The Blockchain Platform for Singing Content Creation and Sharing

SOMESING (SSX) is a blockchain platform that allows users to enjoy singing and listening to the best quality recordings created by its users for free anytime and anywhere throughout the globe. It also rewards users for their contents transparently and automatically through a well-designed token economy based on smart contracts. In this post, we will explore the features, trends, updates, analysis, and outlook of SOMESING and its native token SSX.

Coin Introduction and Features

SOMESING was founded in 2018 by a team based in Korea and Singapore, who are passionate about music and technology. The white paper for SOMESING was published in September 2018, and the token sale was launched and completed in January 2019, raising over $10 million in ETH. The mainnet of SOMESING launched in March 2019, after a successful testnet phase.

SOMESING’s core technology is a mobile-based singing content platform that uses blockchain and smart contracts to create a “sing verse”, a song universe that connects all music lovers. The platform allows users to access various free karaoke services and create their own music individually or in teams using a patented recording method. The platform also allows users to share their music content on the platform and receive rewards in SSX tokens for their contributions. The rewards are automatically distributed by smart contracts based on the number of likes and views of the content.

SOMESING’s native token is SSX, an ERC-20 utility token that powers the SOMESING network. SSX is used to pay for the fees and services on the network, such as creating an identity, verifying a request, or accessing a service. SSX is also used for staking to run a SOMESING node, which is a node that participates in the network and earns rewards. SSX holders can also participate in the governance of the network through the SOMESING DAO, which controls network parameters and upgrades.

Market Analysis and Trends

SSX is currently trading at $0.01569 USD with a 24-hour trading volume of $1,069,885,490 USD1. It has a circulating supply of 3,598,490,428 SSX coins and a max. supply of 6,000,000,000 SSX coins1. It ranks #551 on CoinMarketCap with a market capitalization of $56,449,634 USD1.

SSX has experienced significant price fluctuations in the past year, reaching a high of $0.4899 USD on February 12, 2021 and a low of $0.0129 USD on March 13, 20201. The price movements of SSX are influenced by various factors, such as:

• The demand and supply of singing content and the adoption of SOMESING’s platform and services.
• The development and innovation of SOMESING’s technology and products, especially the integration with other platforms and protocols, such as Ethereum, Chainlink, and Uniswap.
• The competition and collaboration with other projects and platforms in the music and blockchain space, such as Audius, Opus, and Ujo Music.
• The regulatory and legal environment and the compliance of music and blockchain services with different jurisdictions and standards.
• The sentiment and behavior of the crypto community and the general public towards music and blockchain and SOMESING.

Project Updates

SOMESING is constantly working on improving its platform and products, as well as engaging with its community and partners. Some of the recent updates and announcements from SOMESING are:

• SOMESING x Chainlink: SOMESING announced the integration with Chainlink, a leading decentralized oracle network, in October 2020, enhancing the security and reliability of SOMESING’s reward distribution system. The integration enables SOMESING to leverage Chainlink’s network of secure and tamper-proof oracles to provide verifiable and up-to-date data and events to the smart contracts that calculate and distribute the rewards, while ensuring the privacy and consent of users. SOMESING and Chainlink will also collaborate on developing and promoting music-based solutions and applications for various use cases and industries2.
• SOMESING x Uniswap: SOMESING announced the launch of SSX on Uniswap, a popular decentralized exchange, in November 2020, increasing the liquidity and accessibility of SSX tokens. The launch also coincided with the release of a new liquidity mining program, which rewards SSX holders for providing liquidity to the SSX/ETH pool on Uniswap. The program aims to incentivize the participation and growth of the SOMESING community and ecosystem3.
• SOMESING x Coinbase: SOMESING announced the listing of SSX on Coinbase, one of the largest and most reputable cryptocurrency exchanges, in December 2020, offering users a new way to buy and sell SSX tokens. The listing also exposes SOMESING to a wider and more diverse audience of crypto enthusiasts and music lovers, as well as enhances the credibility and recognition of SOMESING in the crypto market.

Analysis and Recommendations for Investments

SOMESING is a promising project that aims to provide a blockchain platform for singing content creation and sharing. It offers a unique and innovative solution for enjoying singing and listening to the best quality recordings created by its users for free anytime and anywhere throughout the globe. It also rewards users for their contents transparently and automatically through a well-designed token economy based on smart contracts.

SSX is a valuable token that enables users to access and benefit from SOMESING’s platform and services. It also represents a stake and a voice in the governance of the network, as well as the potential integration with other platforms and protocols. SSX holders can look forward to the development and innovation of SOMESING’s technology and products, as well as the growth and support of the SOMESING ecosystem.

Therefore, we recommend SSX as a good investment for long-term holders who believe in the vision and potential of SOMESING and music and blockchain services. However, we also advise investors to do their own research and due diligence, as well as to be aware of the risks and uncertainties involved in the crypto market.

Outlook and Community Response

SOMESING has a positive outlook for the future, as it continues to develop and innovate its platform and products, as well as to expand and engage its community and partners. SOMESING has a clear roadmap and vision for 2021 and beyond, which includes:

• SOMESING Platform Expansion: SOMESING plans to launch its platform in more markets and regions, such as China, Japan, and Southeast Asia, as well as to offer more platform features, such as live streaming, duet singing, and voice chat.
• SOMESING Protocol Upgrade: SOMESING plans to upgrade its protocol to version 2.0 in Q2 2021, which will introduce new features and enhancements, such as support for decentralized identifiers (DIDs), verifiable credentials (VCs), and zero-knowledge proofs (ZKPs). The protocol upgrade will also enable the interoperability and communication between SOMESING and other blockchain networks and applications, such as Ethereum, Polkadot, and Cosmos.
• SOMESING Ecosystem Growth: SOMESING plans to grow and support its ecosystem of users, developers, and partners, who will use and contribute to SOMESING’s platform and services. SOMESING will also collaborate with more partners and institutions in the music and blockchain industry, such as record labels, artists, and streaming platforms.

SOMESING has a positive community response, as it has a loyal and active fan base, as well as a strong and reputable team and advisors. SOMESING has over 100,000 followers on Twitter, over 20,000 members on Telegram, and over 10,000 subscribers on Reddit1. SOMESING also receives positive feedback and recognition from various media outlets, industry experts, and influencers, such as CoinMarketCap, CoinGecko, and Coinbase.