990M $DGL TOKENS BURNED
The next upcoming Music business based crypto project called DIGITVL (DIGITVL.COM) — leveraging blockchain and e-commerce to allow creators to build and monetize easier.
DIGITVL makes it incredibly easy for artists and creators to connect with each other in the marketplace and do peer to peer business. This can be anything from purchasing song mixing services from a local studio or selling their album bundles with merch. The $DGL token aims to be the settlement currency between creators while also allowing for technical growth apps to be built to sustain the ecosystem. $DGL is an ASA built on the Algorand blockchain. You can find the official $DGL token here https://algoexplorer.io/asset/462629820 and it can be bought by swapping algorand tokens for $DGL tokens on tinyman.org.
With 1 Billion tokens being the original supply, 990M tokens have been burned in order to allow for the other 10M circulating tokens to be more valuable. This creates a scarcity effect, allowing for the tokens in circulation to be more vital and useful for creator utility on the platform. The method used to burn the tokens can be cited here https://github.com/originalGSD/algo-burn — created by GSD of AlgoScout. This token burning method stems from a very similar method of rekeying done by the Algorand Foundation in 2019 https://algorandfoundation.cdn.prismic.io/algorandfoundation/5c80fdd2-fe08-4bda-8ac5-981b37908031_Early+Redemption+Confirmation.pdf
This token burn method ensures that once opted into the $DGL asset, no outgoing transactions from the burn address can be placed. You can view the burn address here https://algoexplorer.io/address/BURNCPYFJSVZ5MRPONKS2M2ZZPGJ4PIJ4L2GADQKIMBFWPK75SQ4WWZXIU
The $DGL token is a utility token that allows for creators to build and scale their brand in a creator built ecosystem. This means the token is used for advertising, merchandise fulfillment, purchasing physical store shelf space and many more perks that allow for creators to monetize and scale. Currently there are no music business platforms that innovate real life avenues for monetization for creators. Since, DIGITVL has seen the most activity on its streaming platform → www.digitvl.com and on its e-commerce marketplace www.digitvl.shop — both offering intense utility and immediately solutions for artists to keep creating and growing.
As quoted by Mwosa the creator of DIGITVL.COM
“Artists are not just artists, they are a business. And in this digital age they need more effective solutions to becoming self sufficient and self reliant. We just aim to create applications with incredible user experiences that simplify a lot of the hardships of monetization and make it a plug and play. All artists should be able to get their merch created and shipped for them. They should be able to bundle their merch and their music together. Why not allow them to sell ownership of their works without the middleman? We’re already providing these solutions and integrating them into the blockchain. We’ll get better in time in creating a creator economy ran digitally — hence digitvl”