The Blockchain Company Allowing Fans To Connect with their Favorite Artists
06 Dezembro 2021 - 1:33PM
NEWSBTC
Social media platforms have allowed thousands of artists, creators
and celebrities to rise to fame and become household names within
every niche imaginable. The business of sharing the intimate
details of one’s life has become a lucrative industry like any
other – but it is flawed. The current social media model completely
favors the large social media giants. It is designed to compensate
the giants with profits and the artists & creators with
awareness (followers). If artists & creators would like
to monetize their followers and actually make money, they have very
limited options. The typical result is paid ad posts that are
often inorganic, off-brand and salesy, which damages fan
relationships and hurts artist post engagement. Artists &
creators treat content creation as a full-time job and deserve to
get paid for that effort without damaging the relationships they
spent so much time and effort building. The Solution Is it possible
for an artist to get paid for giving their fans more of what they
want (content focused on THEM – not ads), without asking those fans
for money? This is the question the team behind Promify asked
themselves, and they believe they have found the solution. Promify
is a new platform that allows artists & creators to issue their
own custom “Community Coin”. This coin is available to anyone for
purchase and comes with some exciting benefits. The artist is able
to provide their coin-holding community with exclusive access to
literally anything – from exclusive content, 1 on 1 live video, NFT
drops, merch…. The possibilities are endless. The artist is
then able to identify and segment their coin holders by the amount
of coin they own, allowing them to reward their biggest supporters
accordingly. This allows fans to allocate as much or as
little of their own capital as they would like, in order to gain
their desired level of access. Fans can hold, buy more or
sell their coins easily at any time. How the Promify Model Works
When an artist creates an intimate and exclusive offering, they
create demand for their Community Coin – but how does the artist
make money? When an artist issues their coin, they automatically
keep 15% of the coins issued. This means, as demand grows for the
coin and the price of the coin goes up, the artist and all of their
coin-holding fans benefit from the upside. Additionally, the
artist can create incremental offerings that coin holders can spend
their coins to obtain. Promify doesn’t take a cut of any artist
profits and only makes money by charging a 1% transaction fee on
all purchases and sales of Community Coin. This business model is
the first of its kind and wouldn’t be possible without the
blockchain allowing fans to openly buy & sell Community Coins
and Artists to easily track ownership. Promify is leading the
way in the emerging area of social tokens and disrupting the
artist/fan ecosystem.
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