What Is Sona Network (SONA)?

Sona Network is an NFT (non-fungible token) ecosystem platform developed by Sona Networks Inc. The platform’s mission is to add value to collectors and creators interested in NFTs and passionate about art and digital products. One of the primary reasons behind this goal is to overcome the traditional method of dealing with art. This reflects that the concentration of power to deal in art is in the hands of a few art elites, while the creators hardly get income and credit for their creations. In order to overcome this scenario, Sona Network has built an ecosystem of separate NFT platforms, including four main platforms that would help in covering all areas related to NFTs. This framework, in turn, would allow creators to showcase their creations and earn from them while enabling collectors to invest behind artworks in an open, fair, and transparent environment, thereby, shifting back the value and control over NFTs into the hands of art creators and collectors.

In order to support this ecosystem of Sona Network, the platform launched its cryptocurrency, the SONA token. The SONA token is an NFT token and functions on Binance Smart Chain. Binance Smart Chain is a blockchain network developed for running smart contract–based applications. Further, the token is used for all the activities across the ecosystem of the Sona Network’s platform and products. Some of the important activities that the SONA token is applied for are:

• Collection of fees for products sold on the Sona Network platform.

• Provide users with incentives to engage with the network.

• Used as a means for reward against curating, sharing, referring, promotion, etc. activities on the currency.

• Used as means of funding creators and artists on the platform.

• Collectors can use it as a medium for purchasing NFTs on the asset.

• Further, the token is also used as an on-chain governance vehicle that allows stakeholders to participate in the decision-making process.

This fulfills the vision of the organization in the process—to add value to collectors and creators who are interested in NFTs and are passionate about art and digital products.

Who Founded Sona Network (SONA)?

The initial project was launched in the first quarter 2021. Sona Network Inc. is headed by CEO Sam Black. The first IDO of the SONA token was made in the third quarter of 2021.

How Many SONA Coins Are There?

The token has a total supply of 40 billion SONA coins.