The rise of social media has allowed celebrities, artists and creators to become well-known in every field imaginable. The business of sharing the intimate details of one’s life has become a lucrative industry like any other – but it is flawed.
Social media is dominated by the big social media companies. 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. Payed ad posts are usually inorganic and off-brand, and can be very damaging to fan relationships. Artist engagements also suffer. 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.
There is a 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? Promify team has answered this question, believing they know the answer.
Promify is a new platform that allows artists & creators to issue their own custom “Community Coin”. The coin can be purchased by anyone and has many 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…. These are just a few of the many possibilities. This allows the artist to segment coin owners by their amount of coins, and reward those who are most supportive accordingly. Fans can allocate whatever amount of capital they want to achieve their access goals. It is easy for fans to sell, buy or hold their coins.
What the Promify model does
When an artist creates an intimate and exclusive offering, they create demand for their Community Coin – but how does the artist make money?
Artists receive 15% of all coins they issue. The upside is that as the demand for coins increases and prices go up, both the artist and their coin-holding supporters benefit. The artist may also create additional offerings for coin-holders to purchase. 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 has been a pioneer in social tokens, disrupting artist/fan communities.