While perusing the list of projects running on Algorand, I came across one called Crescendo (CRSD) which got my attention. With a few notable exceptions like Lofty.ai, most of the assets on Algorand tend to be either ambitious defi applications, meme coins, or charity tokens. So it’s interesting to see something a little more avant garde like Crescendo, a project which describes itself as “the first Algorand Standard Asset designed to enhance the music-and-arts scene for up-and-coming creator.” Crescendo aims to be a kind of indie art and music marketplace. On this new platform, creators will have the ability to sell MP3s, physical merchandise, NFTs, services and more.
Of course, one doesn’t really have to be a musician, artist or an art collector to benefit from the CRSD token. Crescendo offers some fairly generous incentives to holders, such as (at the time of this writing) 12% APR daily rewards for holders who maintain a balance of at least 20,000 CRSD. Artists who are looking to sell on Crescendo’s current “Proof of Concept” Marketplace should review the creator onboarding doc and fill out this form. Note that Crescendo’s official marketplace will have more features and will most likely be launching at some point later this year. Right now, there is an opportunity to get in on the ground floor.
As for the Crescendo token, I have no idea whether it will increase in value, and ultimately no one knows whether the project itself will live up to its stated goals. Please do your own research. As an artist myself, I’m going to be keeping a close eye on it though. The team is fairly open, communicative and frequently hosts casual Twitter Spaces where they discuss the project. Crescendo gives off a very DIY and down to Earth vibe, which is somewhat rare in the crypto sphere. If you’re interested, I recommend following them on twitter to stay up to date with any developments.
If you enjoyed this article, consider donating some CRSD to the following address:
SR45F36FXFA3TW3JFDPYCD2XLVISURHDLTXKRQF3PIL4HQYBKM4NJZISE4