Feb 18, 2023

StoryCo Launches Creative Marketplace for Franchising IP

On this week’s episode of NFT Steez, co-hosts Alyssa Expósito and Ray Salmond welcomed Justin and J.P. Alanis, the co-founders of StoryCo — an open media platform — to discuss the concept of a community of creators franchising intellectual property (IP) through collaboration and soulbound tokens.

StoryCo is a global creative marketplace, and Justin likened it to pay-to-hire platforms like Fiverr and Upwork, saying that StoryCo might have network-type components similar to these “hire-for-work” platforms. He described it as a “creative marketplace that leverages existing creative talent.”

The goal of StoryCo is to be an open, permissionless platform, where anyone can explore, create, and potentially franchise IP with a story or piece of content they “vibe” with. According to the founders, value is created through multiple avenues, such as user-generated content contribution, story or funding proposals, completing an activation, or even viewing a story.

StoryCo is introducing the StoryPass, a free NFT that gives StoryCo insights on the community’s “nucleus”. The StoryPass is a dynamic soulbound token that tracks members’ participation and consumption of the evolving story. After users unlock achievements with their StoryPass, whether via consuming or contributing, their StoryPass is altered to reflect that.

The founders also discussed soulbound tokens, which are “non-transferable nonfungible tokens” that can be utilized to authenticate and verify someone’s identity, actions or achievements in Web3. StoryCo intends to integrate soulbound tokens to widen the accessibility to collaborate and begin creating IP.

Justin explained that StoryCo aims to become a public good, which means it would be owned by the “community of people contributing value to the platform.” Fifty percent of The Disco Ball’s net proceeds will be allocated to a shared treasury whereby the community will begin to propose and vote on the platform’s evolution, similar to the Nouns DAO Proposal House.

J.P. shared his thoughts on the new technology, saying that just as the “internet was a new paradigm, Web3 is a new paradigm that unlocks the ability for people to contribute.”

StoryCo is offering a unique opportunity for creators to collaborate, share ideas, and create innovative content. By utilizing soulbound tokens and NFTs, StoryCo is providing a platform for people to join the crypto space and benefit from the rewards of the digital economy.

For more information on StoryCo and the NFT Steez episode, make sure to check out the Cointelegraph Podcasts page or Spotify, Apple Podcasts, Google Podcasts, or TuneIn.

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