Social media platforms have allowed 1000’s of artists, creators and celebrities to rise to fame and change into family names inside each area of interest possible. The enterprise of sharing the intimate particulars of 1’s life has change into a profitable business like another – however it’s flawed.
The present social media mannequin fully favors the massive social media giants. It’s designed to compensate the giants with earnings and the artists & creators with consciousness (followers). If artists & creators want to monetize their followers and really earn a living, they’ve very restricted choices. The standard result’s paid advert posts which can be usually inorganic, off-brand and salesy, which damages fan relationships and hurts artist submit engagement. Artists & creators deal with content material creation as a full-time job and need to receives a commission for that effort with out damaging the relationships they spent a lot effort and time constructing.
Is it doable for an artist to receives a commission for giving their followers extra of what they need (content material centered on THEM – not adverts), with out asking these followers for cash? That is the query the group behind Promify requested themselves, and so they consider they’ve discovered the answer.
Promify is a brand new platform that permits artists & creators to concern their very own customized “Neighborhood Coin”. This coin is on the market to anybody for buy and comes with some thrilling advantages.
The artist is ready to present their coin-holding neighborhood with unique entry to actually something – from unique content material, 1 on 1 reside video, NFT drops, merch…. The probabilities are infinite. The artist is then capable of establish and phase their coin holders by the quantity of coin they personal, permitting them to reward their greatest supporters accordingly. This enables followers to allocate as a lot or as little of their very own capital as they want, with a purpose to achieve their desired stage of entry. Followers can maintain, purchase extra or promote their cash simply at any time.
How the Promify Mannequin Works
When an artist creates an intimate and unique providing, they create demand for his or her Neighborhood Coin – however how does the artist earn a living?
When an artist points their coin, they robotically hold 15% of the cash issued. This implies, as demand grows for the coin and the worth of the coin goes up, the artist and all of their coin-holding followers profit from the upside. Moreover, the artist can create incremental choices that coin holders can spend their cash to acquire. Promify doesn’t take a minimize of any artist earnings and solely makes cash by charging a 1% transaction payment on all purchases and gross sales of Neighborhood Coin.
This enterprise mannequin is the primary of its variety and wouldn’t be doable with out the blockchain permitting followers to overtly purchase & promote Neighborhood Cash and Artists to simply observe possession. Promify is main the best way within the rising space of social tokens and disrupting the artist/fan ecosystem.