Requirements & Workflow for Artist Royalties

User Requirements

To participate in the ecosystem, all users must have a Solana-compatible digital wallet such as Phantom. This wallet is essential for receiving payments, holding MNTD tokens, and converting earnings into fiat currency. Additionally, users must have an off-ramp and on-ramp account with a platform like Robinhood or Coinbase to facilitate the final conversion of tokens into spendable cash.

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Workflow: How Artist Royalties Are Paid

1. Artists Earn Royalties

   • When a track is streamed, purchased, or included in a curated playlist, artists receive MNTD tokens as royalties directly into their Solana-compatible wallet (e.g., Phantom).

2. Converting MNTD Tokens

   • To access their earnings as fiat currency, users must sell their MNTD tokens, which will then be automatically converted into Solana (SOL) tokens.

3. Using an Off-Ramp Service

   • Once the MNTD tokens have been converted to SOL, users must transfer them to an off-ramp and on-ramp exchange account (such as Robinhood or Coinbase).

4. Selling Solana for Fiat

   • Users will then sell their Solana tokens on the exchange, converting them into fiat currency (USD, EUR, etc.).

5. Withdrawing to a Bank Account

   • After converting to fiat, users can withdraw their funds directly to their linked bank account, making the royalties fully accessible for everyday use.