Zing Token successfully lists on IDAX, making value within the Chinese Music Industry exchangeable for the first time

HONG KONG, Oct. 24, 2018 /PRNewswire/ -- At 1600 GMT+8, Zing Token (Ticker: ZING) was successfully listed on IDAX, one of the top ten crypto-exchanges in the world as ranked on www.coinmarketcap.com. The much awaited listing  has made the Zing Token, a representation of value within the Chinese Music industry, tradable and liquid.

The Zing Music application launched in September 2018, with much support and anticipation from the Chinese Music Industry as it introduces streamlined music composition functions and a collaborative music production and distribution ecosystem within Mainland China.

The local currency within the Zing application – Zing Credits, is created through constructive actions undertaken by users, such as the production of new melodies, lyrics, and songs; sharing songs on other platforms for distribution and audience acquisition; the successful invitation of new users; and more.

The same credits are spent by users to send gifts and entice private message replies within the community, as well as promote new songs, or attach advertisements to popular songs within the application.

The cash value of the credit is made to fluctuate in proportion to the advertising strength of each credit, determined by 50% of the total number of daily home page views divided by the total number of floating credits.

Panworld Fintech Limited (www.panworldex.com), a fintech company specializing in assisting operating businesses in blockchain implementation and tokenization, reached an agreement with Zing Music Technologies Limited, the developers of the Zing application, to tokenize these credits and make them tradable with other crypto-currencies.

The successfully listing marks a significant milestone as Zing Credits can now be exchanged for Zing Tokens and traded against BTC and ETH pairs, allowing users of Zing to not just spend their credit earnings, but also turn them into other liquid currencies for transactions outside the Zing ecosystem.

SOURCE Zing Music Technologies Limited