“97.5% of YouTubers don’t make enough to reach the U.S. poverty line”. Wait a minute, what?
Macro to the lower end of creators across all the platforms are only generating social capital. Creators make money from brand collaborations, sponsorship videos, affiliate marketing, merchandising, etc. These deals reserve a major share for top tier creates and content distribution platforms (like Youtube, Instagram), thus shrinking the creators’ profits. We need a more direct revenue stream for creators!
NFTs are not just JPEGs rather they are more, we still havent understood the utility behind it. They derive value from the hype and that is what respct is about to change.
We're introducing Composable ERC 998 NFTs to establish a proof-of-fandom for the creator economy.
Creators would launch a collection of upgradable NFTs to incentivize their fans for un-lockable perks at different levels in return of engagement on different social media platforms through likes, shares, content consumed, comments, co-creation, etc.
Apart from increased community engagement, creators would also enjoy growing royalty (based on the NFT level) for each transaction of their NFT thereafter. The users can unlock perks like DMs, AMAs, video calls, and share many such exciting moments with their favourite creators.
To start this off, we have to create a bridge between existing Web2 platforms like Twitter (live on testnet), YouTube, Discord, Twitch and Web3 tokenized communities (to be added soon) to give users the experience and feel of Web3.