Token Utility & Characteristics

Public Pressure is an NFT marketplace that allows artists to create and sell unique performances to their fans with a new format: NFTs. Fans are empowered to support their favourite artists by enabling them to create content and increase their visibility on the platform. The price of an NFT will be either fixed or auctioned:
  • Fixed price sales: the artist drops a finite number of identical NFTs sold for a fixed price on a first-come, first-served basis. There may be presales in favour of fans who have the highest staking levels.
  • Auction: The artist drops a finite number of identical NFTs auctioned either in the open or in the dark (in this case, participants will not be aware of the other participants' offers - higher bids win). In the case of equal bids, the winner is the one who has the highest staking level. If the staking levels are equal, the assignment will be on a first-come, first-served basis.
Public Pressure has designed a ‘Token Model’ to release certain elements of the platform governance to the token holders in order to incentivise the relationship between artists and fans. Fans can stake JTP native tokens, favouring their chosen artists, in order to be more involved in the communities.
JTP, (Join The Pressure), is the token of the Public Pressure Network. In general, the objective of the token is to optimise the engagement within the platform by creating market mechanisms that allow:
  • Artists, to maximise their fans’ engagement. The logic is: the more artists can generate engagement around their NFTs, the more significant space they have within the platform and consequently, increased ability to monetise their community of fans;
  • Fans, to have a new way to support their favourite artists, feel included in their community and have access to exclusive products and unique services/experiences reserved only for specific user categories;
  • Patrons, to commission music/art on the platform, discover emerging artists and create a community around their strategic art vision.

The token will have three main functions:

  1. 1.
    Fan Staking
  2. 2.
    Patrons Pools
  3. 3.
The staking of tokens is considered a crucial factor for the correct functioning of the ecosystem enabled by the platform, since it is an involvement that strengthens engagement and creates a long-term ecosystem with aligned interests.
However, our idea of staking is something very different from what it means in the DeFi environment. In the Public Pressure ecosystem there aren’t any traditional DeFi mechanics, such as yield farming where you just need to stake tokens to earn more tokens. Here, only people that really interact in the ecosystem, creating value for the ecosystem as a whole will be rewarded with very attractive benefits.