Whitepaper Version 1.0
SongMarketCap
WHITEPAPER
Introduction – How Did the Story Begin?
How did SongMarketCap come to life?
For years, all of us have been regular visitors of a website called CoinMarketCap. Watching a project named Stuff.io develop its platform for launching NFT songs, the idea was born to one day create a platform where people would come to check NFT song prices, and in the future even trade songs, a place where songs could be listened to after connecting with a crypto wallet.
The name suggested itself, SongMarketCap was born.
Why is Version 1.0 of our Whitepaper coming only now?
Honestly, we ourselves did not know where we were heading and what this would all turn into. Why? Because we do not have deep knowledge of blockchain technology, nor do we have advanced skills in coding and programming. We have no experience in scaling companies. We do not have dozens of successfully completed projects behind us.
Creating a whitepaper earlier, in phases when we ourselves didn’t even know if the project could survive another two days, made no sense. Creating a whitepaper without knowing which path to take also made no sense. Writing false promises just to make it look nicer also made no sense.
And that is why only now comes the first version, with the wish, hope, and belief that this version will soon be supplemented with new plans, an even better roadmap, and even more refined development strategies.
The very beginnings were extremely difficult for us. On the Cardano market, there is a well-established group of investors and crypto enthusiasts who, out of fear for their own projects, immediately start attacking anyone new entering the market. Our SongMarketCap was attacked in the same way, by skeptics, by haters, by everyone who didn’t want us to survive the first week of existence.
We started through Snek.fun for a very simple reason, because we didn’t know the people behind other types of launches, we had never done a token presale, and we had never taken part in project launches before. At that time, Snek.fun seemed the simplest option because of its low startup costs and the ability for the project to go live right away.
No one was working on building websites, so we started with a simple site made in the Wix system. The idea was to use the platform for minting NFT songs called Stuff.io, and to launch our utility token named $SONG, which would provide holders with benefits in the form of discounts when purchasing NFT songs on the Stuff.io platform…
Problems, Vision, First Moments
Right from the start, it was important for us to make an agreement with the company Stuff.io and to get their approval to mint NFT songs through them, since at that time their creator portal had not yet been launched. Today, anyone can upload a song and turn it into an NFT.
We recognized a moment in the market that nobody else noticed, the potential of the company Stuff.io. And because no one saw that potential, no one saw the niche, the gap in the market.
We quickly realized the following: crypto communities compete on social media when voting for their projects, crypto communities like, crypto communities retweet, crypto communities love their crypto projects.
Our idea was to start creating NFT songs for crypto communities and to offer them on the market, so that people who love a song about a project could buy that song.
We began creating songs ourselves after researching different projects. Then we used AI to help us prepare the lyrics. With other AI techniques, we transformed those lyrics into real songs.
It was important to find a platform that grants the author 100% rights to the song they create, and we found that with the platform SUNO.
So our song creation system looks like this:
- We write the song, giving it soul, meaning, purpose, and a message,
- In ChatGPT we rearrange the text to prepare it for singing,
- In the SUNO system we transform it into a song,
- We upload the song to Stuff.io, and Stuff.io handles the minting and payments.
The system works like Amazon, the author uploads a book, Amazon sells the book, takes its share, and pays the author their part.
It’s the same here: we send the song to Stuff.io, and they take care of the entire process around minting and the payment system.
As authors, we only receive our share after the sale. Our share is 70% of the price.
Stuff.io pays us our share in ADA through the Cardano network.
Solution - The SongMarketCap Ecosystem
Here is how the ecosystem is designed to be sustainable for business.
The costs of producing songs are extremely low, and the greatest capital we invest is simply our time and effort in working on a song. Sometimes a song is ready in 15 minutes, and sometimes it takes two hours. But if we consider that musicians often spend months in a studio creating their songs, for us this is truly a small price to pay, because we use little time and technologies like AI to bridge all our lack of knowledge about the music industry, to create songs we enjoy, and to release them for minting.
Our goal is to become the central place in the future for people who will own NFT music, and our wish is to continuously upgrade the entire ecosystem.
Currently, it works in such a way that we create songs and earn revenue when Stuff.io sends us 70% of the sales after a purchase is made.
But to strengthen our ecosystem, we designed an additional redistribution of revenue that comes from the sale of our songs:
- 40% - Our earnings. The ADA received after sales is converted into EUR and paid into our bank account. From an accounting perspective, we report this income for KT MEDIA as income from authored content / digital services. On this income, we are obliged to file tax returns in accordance with the laws of the Republic of Croatia, an EU member state from where the project is launched.
- 10% - Swapped to $STUFF and then burned. Why do we deliberately destroy $STUFF and reduce the number of their tokens in circulation? Because in this way we show respect to the project that supported us, gave utility to our token $SONG by recognizing it in the wallet and granting holders a 10% discount when buying songs, allowed us to mint songs, and publicly supported us on the company’s and founders’ official X accounts. This 10% is given from the heart to those who supported us, and we gladly forgo it.
- 25% - Strengthening the liquidity pool for our utility token $SONG. Why? Because we do not control the LP and we did not launch the token ourselves, instead, we paid on Snek.fun for them to launch it, and we only purchased our portion that we now hold. Snek.fun has a partnership with Splash.Protocol, where Splash provided liquidity for people who want to buy or sell on the DEX, amounting to around 10% of the max supply. Our wish is to make the LP stronger, which is why we allocate 25% of revenue from NFT song sales in the following way: 12.5% is used to buy $SONG on the market, and the other 12.5% is left in ADA. We then add 100% of this in a 1:1 ratio to liquidity on Splash Protocol.
- 25% - Permanently given up and sent to the SONG BUY&BURN wallet. This 25% is something we renounce forever, and all ADA in that wallet is used exclusively to buy $SONG tokens and burn them. From this wallet, there will never be payouts to banks, conversions into other cryptocurrencies, or any other type of transaction. The wallet serves only one purpose: all ADA on it is to be used to buy $SONG and then send all those tokens to the official burn wallet, permanently removing them from circulation.
Collab Wallet - Partnerships with Decentralized Projects
In many cases, other decentralized projects will approach SongMarketCap for collaborations. Our standard collaboration model is that we produce a song for the partner project and list that song for sale on Stuff.io. After Stuff.io pays us our 70% author share, we apply a special redistribution process for these exceptional collaborations.
Process and accounting flow:
1)
Partner allocation (exceptional cases): For collaborations, we first allocate the agreed partner share from our 70% author revenue (for example, 50% of our share). This partner allocation is transferred to a dedicated Collab Walletto simplify tracking and record-keeping.
2)
Remaining revenue split: The remainder of our 70% (the remaining 50% in the example above) is then distributed according to the standard splits set out in this whitepaper (10% STUFF burn, 40% KT MEDIA revenue, 25% LP, 25% Buy&Burn), unless an alternative arrangement has been explicitly agreed in writing.
3)
Use of Collab Wallet funds: Funds held on the Collab Wallet are used exclusively to purchase the partner project’s native token. 100% of the tokens acquired from this wallet are then sent to the partner’s designated burn address and permanently destroyed. SongMarketCap team members will personally execute and confirm the swap-and-burn transactions for full accountability.
4)
Transparency and records: All transactions associated with the Collab Wallet (deposits, swaps, and burns) are publicly documented, each entry includes the txid/hash, and internal archives (screenshots, transaction logs) are maintained. Proofs of swap and burn will be made available so anyone can independently verify that Collab Wallet funds were used only for purchasing and burning the partner token.
5)
Non-revenue treatment: Amounts routed through the Collab Wallet do not constitute income of KT MEDIA and are not recorded as business revenue. They are strictly earmarked for partner token purchase and burn operations only.
This Collab Wallet procedure is reserved for exceptional partnership agreements and is designed to ensure clarity, on-chain transparency, and a trust-minimizing process that benefits partner projects while preserving our standard ecosystem flows.
Technology
- Blockchain: Cardano
- NFT Songs: We do not mint them ourselves, Stuff.io does. They handle the minting and pay us 70% as the authors.
- Payment System: Organized by Stuff.io. Payments are made in ADA, both to them and to us.
Token ($SONG)
Purpose (Utility):
The $SONG token on Cardano was created with the purpose of granting holders a 10% discount when purchasing NFT songs on the Stuff.io platform.
The token is not a financial instrument and carries no promises of dividends, payouts, or guaranteed profits for those who hold it. Its sole function is utility, enabling discounts when buying songs.
Tokenomics
Total Supply: 1,000,000,000 $SONG
Distribution as of 02.10.2025:
- 21.10% of tokens are held by the SongMarketCap project, split across 4 wallets for greater security. We are often witnesses to wallet hacks and major problems for projects. To mitigate risk, we distributed 21.10% across 4 different Cardano wallets. These tokens were not self-minted; we purchased them on Snek.fun at the time of token launch.
- 3.22% of tokens are owned by the Founder, also split across 4 wallets for security. All tokens were purchased on the open market with personal funds.
- 2.24% of tokens have already been burned and permanently removed from circulation.
- 11.04% of tokens are in the liquidity pool (LP).
- 62.4% of tokens are held by the community that supports the project and purchased the tokens on the open market through DEX exchanges.
Why didn’t we lock the tokens controlled by SongMarketCap?
Because we researched the Cardano market and studied hundreds of projects. We believe that token locking is one of the most dangerous things that can happen for the development of a project.
By observing hundreds of projects and market behavior on Cardano, we identified the existence of interest groups within the ecosystem who operate as speculators.
Their modus operandi is always the same:
- They pressure founders to lock tokens “for security,”
- Once tokens are locked, they invest heavily, create hype and euphoria, pump the price,
- Then they sell off and abandon the project, while the project is left in trouble as the community labels it “dead,” even though the founder did nothing wrong.
Our response was: unlocked tokens as a shield.
We keep them unlocked, distributed across multiple wallets, and transparently displayed. This way no one has control over us, nor the ability to blackmail us.
Today we are still here and still alive. Many projects that decided to lock their tokens no longer exist.
Anyone who dislikes our approach will simply not follow us. We can live with that, and continue building in peace.
Will the $SONG Token Gain Additional Utility in the Future?
We believe it will, but we do not want to make promises. The crypto world is full of unfulfilled promises written in whitepapers. We do not want people to buy the token because they read our plans and assumed its price would rise because of them. We want people to buy the token only if they want the 10% discount when minting songs on Stuff.io, because Stuff.io will recognize the token in the wallet, and that will be the trigger for the discount.
Additional Sustainability Mechanisms
Swap&Burn – Explanation
Our community proposed a way to further motivate users and make our utility token more interesting, by burning large amounts of tokens. DexHunter, the most well-known aggregator in the Cardano ecosystem, created a special widget for communities. The widget works in such a way that with every swap, 50% of the fee is sent to the community’s address. For our project, DexHunter built the widget, and 50% of the fee is sent to an address we symbolically called the Swap&Burn address:
addr1qx3645h6cj5ujq0k0hgd5u79dnwper80cfvyqesh8uss8mmkq9p8hjkugtn7nw5wr9648guxadv580cyd2qv53w20k4sge7x7c
All Cardano collected there is used exclusively to buy $SONG tokens, which are then sent to the official burn wallet and permanently destroyed.
How else is the Swap&Burn wallet funded?
- All fees sent by DexHunter,
- ADA contributions from fans and community members,
- Various community engagements.
Once again, we emphasize: 100% of the amount in this wallet does not belong to the project and is not treated as revenue. All funds are used exclusively for purchasing $SONG tokens and burning them.
For complete transparency, a public ledger will be maintained with the hash and txid of every deposit, swap, and burn transaction. Proof will be publicly available through blockchain explorers and the project’s official website, so that anyone can independently verify that the funds have not been used for any other purpose.
SongMarketCap does not provide exchange services.
The Swap&Burn widget is enabled by DexHunter as an authorized aggregator. 50% of their fees are automatically directed to the community address dedicated exclusively to burning $SONG tokens. These funds do not represent income of KT MEDIA nor are they recorded as business revenue.
The difference between the Buy&Burn and Swap&Burn wallets.
In the whitepaper, wallets with similar names are mentioned, and we want to clarify this part to make things clearer. Buy&Burn and Swap&Burn are not the same wallets.
- The Buy&Burn wallet is funded with 25% of the revenue we receive from Stuff.io, as explained earlier.
- The Swap&Burn wallet is funded by 50% of the fees sent to it by DexHunter, the community, and various other community activities.
What both wallets have in common is that all ADA from them is used to swap into SONG, which will then be 100% burned and permanently destroyed. Everything will be documented and transparently published, along with the corresponding transactions and hashes.
LP Mechanism
Liquidity is currently controlled by Splash.Protocol.
Our wish is that from the 25% of song sales we allocate, we will one day build our own larger LP, for example on Minswap, in order to expand trading possibilities and reduce dependency on a single liquidity provider.
Use of our ADA Revenue
The ADA revenue from Stuff.io (70% share paid to the author, as previously explained) is converted into EUR and paid to KT MEDIA, a business registered in Croatia.
40% – earnings of KT MEDIA, reported and taxed under Croatian law,
60% – used according to the redistribution described above (LP, Buy&Burn, STUFF burn).
In other words, KT MEDIA’s taxable income is limited to this 40% portion of the 70% revenue received from Stuff.io. The remaining 60% is automatically redirected within the SongMarketCap ecosystem (burn, LP, community utility) and does not constitute taxable income of KT MEDIA.
Regulation and Legal Framework
The $SONG token is not a security and carries no promise of profit.
$SONG is designed exclusively as a utility token in accordance with the European MiCA regulation.
By definition, under MiCA, utility tokens represent digital records that grant holders access to services or products within a specific ecosystem, without giving rights to profit sharing, company ownership, or any form of guaranteed return.
The $SONG token has no characteristics of a security token or e-money token. It does not represent ownership in company assets, does not carry voting rights, and does not promise financial returns.
All users who hold $SONG tokens use them exclusively within the SongMarketCap ecosystem (minting, content access, community utility, burn/LP mechanisms).
Tax Treatment
This document does not represent tax advice and must not be interpreted as a tax recommendation, instruction, or binding legal document.
Tax regulations for digital assets vary from country to country, are subject to frequent changes, and may be interpreted differently by tax authorities.
All users and holders of $SONG tokens are solely responsible for properly determining, reporting, and paying their own tax obligations in accordance with the legislation and regulations of their country of residence or tax residency.
The SongMarketCap project, its founders, or associated persons bear no responsibility for tax liabilities, penalties, interest, fees, or other consequences that may arise from holding $SONG tokens, participating in the ecosystem, or using related services.
All users are expressly advised to consult a qualified tax or legal professional in their country before making any decisions.
Team and Partners
Founder:
Jure Karamarko
(KT Media, obrt za promidzbu, VAT 26535762356)
Founder on X: https://x.com/JureKaramarko
Partners: We currently don’t have any official partnerships. We’ve had a lot of completed collaborations, but we don’t want to mislead the community like many others do by presenting those as partnerships.
/ Stuff.io - we use their creator portal and minting system. They pay us 70% of revenue, but we do not have a formal partnership. The moment they gave utility to our $SONG token was their goodwill, not the result of an official partnership.
/ DexHunter – enabled the Swap&Burn widget, also without a formal partnership.
Websites:
- www.songmarketcap.com – independently built via the Wix system.
- Swap&Burn https://songmarketcap.ghost.io/swap/ – independently built via the Ghost system.
- X account: https://x.com/songoncardano
Collaborators and Community:
We have no advisors or collaborators. We are trying to do everything ourselves, learning and developing along the way. What we don’t know, we strive to learn and improve ourselves.
Our community gathers under the motto WE ARE LONG ON $SONG and is most active on the X social network.
At this moment, we do not have a Telegram group or a Discord community, because we believe the toxic and pressure from speculators on those platforms would do more harm than good. What we need is peace to create, not the pressure of speculators.
Roadmap
We have no roadmap!
We could write 100 promises here just to get you excited, but we won’t. Our roadmap is to be better today than we were yesterday, to grow every day as people, as creators, as members of the crypto market and community.
Our roadmap is to surround ourselves with people smarter than us, to recognize mistakes if they exist, to correct them, and to grow day by day.
Of course, we also have ideas and sketches, plans and dreams. But this project, which was launched without people, without money, without knowledge, built on improvisation, does not want to allow itself to publicly release plans.
Because those plans would be read by someone who has money, people, knowledge, and know-how, and that would not be good for us.
That is why we keep the best for ourselves, and we will publish it one day when it is ready to be revealed.
The focus will be on strengthening the community and spreading the story of the SongMarketCap project. We will do networking, attend conferences, meet people, stay active on all social media platforms, and show people every day that we exist, constantly looking for ways to reach them.
We will only begin larger-scale marketing once we believe our project is ready for that phase and looks the way we envision it in the long run.
We will work on growing the community, staying active on social media, creating new collaborations by minting songs for other projects, and connecting with their communities, founders, and teams.
We will also work on helping our own community members gain recognition, grow their follower base, and support them in their growth, because as they grow, more people will also learn about us.
Our focus is on developing the project step by step and gradually expanding a community that will understand what we are building and support us on this journey.
Our biggest achievements so far in a short period of time:
- Our song Stuff Revolution was the first asset in history ever minted on the Stuff.io creator portal, and Stuff.io proudly highlighted this on their social media.
- Our token $SONG received official utility, granting a 10% discount for minting our songs on Stuff.io.
- Our song Rare Evo - The Place To Be was used for the official after movie following the conference in Las Vegas. Rare Evo publicly praised us and shared the song on X.
- Charles Hoskinson, on his X account with over 1 million followers, shared one of our songs.
- DexHunter, in front of their 27,000 followers, wrote that they were happy their partner was successful. Even though we don’t have an official partnership, they still said it. (It was their Swap widget we used.)
- We minted a song in collaboration with the Revuto project, which sold out in 7 minutes.
- We minted a song in collaboration with the ROLL project.
- We minted an NFT song about Farah Zafar, one of the most powerful figures in Dubai, which sold out in less than 2 hours.
- We minted a song about the SNEK project and achieved our fastest sold-out ever in just 15 seconds.
- Our song Charles sold out in 10 minutes, our XRP song sold out in 3 minutes, and Cardano Farmers also sold out in just 3 minutes.
Risks and Disclaimer
Participation in the SongMarketCap ecosystem involves exposure to risks characteristic of cryptocurrencies and blockchain technology.
- Volatility, the value of ADA and all other crypto assets may fluctuate significantly, which can affect purchasing power and the perceived value of NFT songs or $SONG tokens.
- Regulatory uncertainty, regulations relating to crypto assets and NFTs may change at any time. The SongMarketCap project and its founders bear no responsibility for any regulatory decisions that may affect the use of tokens or NFTs.
- No guarantee of returns or profit, purchasing NFT songs or holding $SONG tokens does not represent an investment, nor does it grant rights to profit sharing, dividends, interest, or any guarantee of a return of funds.
- Project development, the SongMarketCap project may change and adapt in accordance with circumstances, technical possibilities, and community needs.
Special Note:
The SongMarketCap project is primarily engaged in the sale of digital songs (NFTs). Our business model is based on keeping 40% of total revenue from sales, while the remaining 60% is directed through the ecosystem (burn, LP, development).
The $SONG token is exclusively a utility token within the SongMarketCap ecosystem. Its sole functionality is to provide community benefits, for example, a 10% discount on NFT song purchases for all $SONG holders. The token does not carry any ownership, governance, or financial rights.
Future Expansion: Bringing Creators On-Chain
In one of the upcoming phases of our development, SongMarketCap plans to expand beyond our own music NFTs.
Our vision is to create an ecosystem where writers, musicians, podcasters, and filmmakers can bring their creative works on-chain through the Stuff.io platform.
The process would function as follows:
- SongMarketCap will identify and approach creators interested in publishing their works as limited-edition NFTs (music, books, podcasts, videos).
- We will sign collaboration agreements with those creators, clearly defining revenue shares and responsibilities.
- Our team will assist in preparing and uploading their works to the Stuff.io creator portal.
- SongMarketCap will actively promote the minting process to our community and the wider Cardano ecosystem.
- For each collaboration with artists and creators, a new dedicated Cardano address will be created, where Stuff.io will send 70% of the total revenue from the NFT sales.
- From this address, the creator’s agreed share will be transferred directly to their wallet, while SongMarketCap’s agreed share will be sent to our main project wallet for further redistribution.
Important note:
- The collab wallet, already defined in this whitepaper, remains reserved for collaborations with crypto projects(where part of the revenue is used for buying and burning their native tokens).
- The dedicated wallets described here apply to collaborations with artists, musicians, writers, podcasters, and filmmakers.
The portion of revenue that SongMarketCap retains from such collaborations will be distributed internally in the same way as for our own mints, in the ratio of 40% (business revenue), 10% (STUFF burn), 25% (LP), and 25% (Buy&Burn).
This expansion, planned for one of the future phases, would allow SongMarketCap to become a gateway for creative talent into the NFT economy, scaling our business model beyond our own releases and positioning us as a trusted partner for independent creators worldwide.
Conclusion and Vision for the Future
We genuinely do not know whether in a few years CoinMarketCap will acquire us, or if in three months we will cease to exist because no one is interested in buying NFT songs anymore.
We do not know if tomorrow we will find an investor willing to fund the building of our dreams, or if we will gradually build the ecosystem over years. We do not know whether competition will appear, or whether we will dominate this part of the market for years to come.
Maybe we will remain a “one-man show,” or maybe in five years we will have an office building with 100 employees.
Our vision has already been stated: we want to be better tomorrow than we are today. We want to work, fight, and give our best. We want to become profitable, employ people, scale the business, and achieve 100% self-sustainability.
Final Disclaimer
This whitepaper serves exclusively for informational purposes.
It does not constitute investment advice or an investment offer.
$SONG is a utility token whose sole function is to provide benefits within the SongMarketCap ecosystem.
By participating in the project, users accept full responsibility for their own decisions, risks, and tax obligations.
Whitepaper Version 1.0
Written by: Jure Karamarko (Founder)
Date: 02.10.2025