In the ever-changing world of blockchain Web 3.0, staying up-to-date with the latest news and information has become a daily essential for many investors. This helps grasp investment trends and understand and mitigate risks. It's obvious that our demand for excellent content creation is long-lasting, and we strive for faster speed, more accurate information, and superior content.
Although there are currently many excellent content platforms and protocols such as Mirror and Lens, the overall value of Web 3.0 creator economy projects is underestimated. According to data statistics, last year there were about 110 projects in the Web 3.0 creator economy field that received funding, totaling approximately $662 million, accounting for less than 3% of the total funding in the 2022 cryptocurrency market. This indicates that the current Web 3.0 creator economy is still in its early stages and is a promising blue ocean market that is definitely worth exploring for potential opportunities.
In this article, veDAO Research Institute will guide you through the blue ocean track of Creatorfi - the creator economy, and take stock of ecological projects worth paying attention to, sharing potential investment opportunities with you.
Innovation of Creatorfi
Creator Finance, the creator economy of Web 3.0, combines social and content creation economic models. It has four creative advantages compared to the creator traffic economy of Web 2.0:
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Content uploaded by creators in Web 3.0 is stored on a decentralized network, permanently recorded on the blockchain. Creators have ownership and control over their content. They can turn their content into NFTs for release, achieving uniqueness of their work. Smart contracts and creating wallet addresses also play a role in establishing ownership rights.
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Strong protection for original content in Web 3.0 creator economy. Once the creation is recorded on the blockchain, it generates a unique smart contract address, eliminating issues such as theft and plagiarism that often occur on Web 2.0 content platforms. Referencing content and derivative creations will be more convenient, creating a healthy creative economic environment.
Due to the ability of creators to combine content works with the uniqueness of NFT for publication and sale, the platform's reward mechanism and token reward mechanism will provide income incentives for high-quality content creators. There is also no longer any concern about works being fragmented across different platforms, as rewards are linked to contract addresses that point to unique creator addresses.
Incentives and rewards stimulate the creation of high-quality content in the Web 3.0 world. Content social platforms will reward outstanding works based on specific indicators, providing NFTs and tokens to encourage creators to produce high-quality content that meets market demands. Similarly, users can directly support the creators they like by rewarding their content and motivating them to continue producing.
Analysis of Potential Projects
Based on the potential, highlights, and fundraising situation of different types of Creatorfi projects in 2023, we have selected several projects worth paying attention to for introduction and analysis.
StoryCo
StoryCo, previously known as Story DAO, is an open media storytelling platform. Creators can publish their own story works, sell them as digital assets, and have unique intellectual property (IP) rights for expansion and governance. It allows the audience to collaborate, remix, and branch stories, and then the community decides together whether to adopt the content, expanding the IP to a more open stage. The website avoids most Web 3 terminology, referring to NFTs as StoryPass. Holders can access the project's treasury, which includes NFT sales, IP licensing revenue, and royalties, and there is even the possibility of bringing the IP to the Hollywood screen.
On January 26th of this year, StoryCo announced the completion of a $6 million seed funding round. The project has not yet disclosed information about issuing coins, but it is worth following up.
The day after the seed funding round was completed, the official announcement was made that the first story passport, The Disco Ball, is now open for applications. This is a free but non-transferable NFT. Players who own this passport can participate in the story.During the adventure, everyone interacts and contributes to the formation of data called "Story Moments" through the exploration of the story. These moments will be recorded in the passport as evidence for participation and future rewards. When the interactive exploration of The Disco Ball story is completed, a set of NFT called "Astronaut" will be issued, and holding the Astronaut NFT makes one a member of The Disco Ball DAO. The most active users in the interactive exploration process will have the chance to receive the Astronaut NFT as a gift, while the rest of the NFT will be sold. The proceeds from the sales will form the initial treasury of the DAO, used for the development of this IP. In the future, all income generated around this IP, such as subsequent NFT sales, royalties, and licensing fees, will be returned to the DAO's treasury and collectively decided on by DAO members on how to use it.
REPUBLIC
REPUBLIC is a one-stop content platform where creators can connect with their audience and receive higher returns. Its ecosystem rewards creators and their viewers for their contributions to the platform in a unique way, allowing everyone to earn income through interacting with content, recommending it to friends, and supporting creators.
According to data statistics, in 2023, REPUBLIC launched the Spinball Creator Preselection and attracted over 500 people to join the community, bringing in an influence of over 50 million. Since its launch in November 2022, more than 85,000 users have registered and used its Alpha version within 3 months, achieving rapid growth.
On March 3rd of this year, REPUBLIC announced that it raised $3.7 million in its seed round of financing, increasing its valuation to $75 million.
The token RPK will be built on the BSC chain and will primarily serve the following purposes:
Tokenized interactions between creators and audience, such as purchasing works, tipping, etc;
Platform governance, where holding RPK is equivalent to having shares in the platform and having voting rights to shape the platform's development through community governance;
Rewards and incentives, where XP rewards and token airdrops will be distributed in the form of RPK to align the interests of stakeholders with the platform's interests;
On RepubliK, creator tokens and NFTs are essentially tied to the RPK pool, ensuring that their value will never be lower than the value of RPK in the pool. This direct binding mechanism prevents the depreciation of creator tokens and NFTs, providing stability and security to their value.
According to the whitepaper, the total supply of RPK is 3,000,000,000 tokens, divided as follows:
5% for public sale;
12% for private sale;
10% for market operation and expansion;
20% for operation and development;
38% for platform content creation rewards, XP rewards airdrops, etc.;
15% for team allocation;
Airdrop rewards and tokenization features will be deployed in the third quarter of 2023. According to the Roadmap, airdrop rewards will be added in July of 2023, followed by the launch of the Beta version with tipping functionality in August. Token generation for RPK will take place in September, and RPK will be listed on exchanges in November. We recommend everyone to pay attention to the airdrop event starting in July, evaluate the investment potential based on the feedback of the August Beta version, and the VeDAO research institute will also provide insights on the token sale in September.
Learn more about the project through VeDAO: https://app.vedao.com/projects/6955cdd23043e3b547fd28a4f7207976ee2b9ab2f6db8bdca86e61c7c7899e35
Cheelee
Cheelee is a short video platform designed with GameFi elements and a "Watch to Earn" mechanism. Users can earn token incentives by watching and creating game-related video content with their NFT glasses, similar to ReadOn. The platform aims to enable all users to make money on social networks and participate in the attention and content economy.
Cheelee provides every new user with a free pair of NFT glasses. These glasses can detect video viewing time and convert it into corresponding points, which can then be exchanged for token rewards. Users can also use tokens to upgrade the functionality of the glasses, such as lenses, frames, and memory. Its gameplay is similar to "move to earn" in STEP N, where upgrading the shoes improves earning capability and users can purchase new shoes. The economic model also adopts a dual token system.
Dual token economic model:
Governance tokenCHEEL has a total supply of 1,000,000,000 tokens. With this governance token, the community can vote on important platform development issues based on DAO principles to achieve effective governance. As of now, the token price is $15.64, an increase of nearly 80% compared to its initial listing price, reaching an all-time high. The utility token LEE has a maximum supply of 7,000,000,000 tokens. All transactions within the platform are carried out using LEE tokens, including reward acquisition, purchasing items, and upgrading glasses. The ease of acquiring LEE tokens depends on the algorithmic calculation based on the number of tokens minted: the more tokens minted, the more difficult it is to obtain new LEE tokens. The token price remains relatively stable at $2.6 with minor fluctuations. In this month alone, Cheelee, after only 7 months, completed a $10 million financing round, which will be used to accelerate the development and marketing of Cheelee's vertical video social networking application. So far, Cheelee has raised a total of $32.75 million in funding. Previously, in November 2022, Cheelee completed an $8 million equity financing round and received $1.3 million in VC fund grants. As a startup in the Web 3 industry, being able to raise such a substantial amount of funds indicates that the project has received deep recognition from investment institutions. Moreover, during the extreme bear market in the cryptocurrency market in November last year, the project founder Roman Alekseev, together with the Web 2 mobile application NUTSon, launched a $200 million "Crypto Winter Unity Fund," which further reflects the project's attitude and expectations for the development of the cryptocurrency industry. [Image] [Image]align: left;">According to the Roadmap description in the white paper, the biggest progress in 2023 is to build upon the previous preparations and eventually face the market. Q1: Application release and token listing, Web market release. Q2: Provide NFT paths for fiat currency purchase (P2P and direct). Q3: Enrich donation, livestreaming, loot boxes, and advertising cabinet functions. Q4: Develop NFT avatars, metaverse.
In fact, the current emphasis of Cheelee is more on "watch to earn", and the construction of the "create to earn" part is not obvious. However, from the design of the application, it is like a TikTok that integrates the STEPN gameplay in Web 3.0. I believe that the market for content creation will definitely be another focus. Cheelee enters the short video field and has such strong financing capabilities. Its future influence in Creatorfi cannot be underestimated.
Learn more about the project through veDAO: https://app.vedao.com/projects/19eedb35701ddcae8c4b0ca6fa0b9ffc1f635405a684dccae78fa7c7ece2c912
PoPP
PoPP is a Web 3.0 creator community application that uses Web 3 technology and AI tools to create a one-stop private domain community program for creators that is convenient to manage, promotes freedom of speech, ensures data never gets lost, and allows for co-creation and wealth sharing with fans. PoPP is committed to building a creator economy ecosystem with the aim of giving each work and contributor the respect and rewards they deserve.
PoPP was born on February 1, 23 and is sticking to its initial intention of empowering creators every day.
On June 13th, PoPP completed a $4 million angel round of financing, which will support continued investment in product development and iteration, as well as incentives for creators, after the launch of PoPP. With this round of financing, PoPP's valuation has reached $40 million. The beta version of the application has already been launched on the IOS APP STORE and the global public beta has begun. PoPP aims to automatically distribute rewards to creators in a fair manner. It aims to create an integrated creator community tool and a one-stop content accumulation application, using Web 3.0 and AI technology to support a large community.This is an incentive program for Kol, communities, content creators, influencers, platforms, etc. If you successfully become a PoPP creator and have your own private domain planet, when someone joins your planet channel and takes actions such as creating lists or purchasing NFTs, you can receive a certain percentage of the PoPP protocol fees they pay in the future, with a maximum earning of up to 50% in rebates.
For KOLs, you can share a total of 100,000 USDT in airdrops, which will be directly distributed through community management. For followers, they can benefit from NFT sales allocations, receive airdrops rewarded directly by POPP, and participate in other tasks and prizes.
Learn more about the project through veDAO: https://app.vedao.com/projects/7df26b2a622a494b64bff6caddf68af7e6b1757be0cdee6950571d8e704d9977
Conclusion
Creatorfi emphasizes not only the economy of content creation, but also the integration of social interaction to create 3D dimensional influence and economic effects. The current Web 3.0 creator economy is still in its early stages, with a limited audience range and a smaller user player volume compared to NFTs and Defi, which leads to a shortage of content production and a lack of continuous injection of fresh ideas. It has not yet formed a virtuous cycle of economic value creation. However, there are few strong competitors and the market has many diverse modes of operation. Overall, it is still an interesting blue ocean waiting to be developed. With the advancement of these high-quality projects this year, we believe that more attention will be focused on Creatorfi. Perhaps the next hot project is on the Creatorfi track.
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