Feb 18, 2023

StoryCo Launches Creative Marketplace with Soulbound Tokens

This week, the co-hosts of NFT Steez, Alyssa Expósito and Ray Salmond, spoke with Justin and J.P. Alanis, the co-founders of StoryCo, an open media platform. During the conversation, the two discussed the possibility of a community of creators franchising intellectual property (IP) through collaboration and soulbound tokens.

J.P. Alanis explained that content creation is not limited to one particular creator, but should be open to all types, including fans. He noted that there are still barriers to incentivizing creators and navigating the bureaucratic nature of centralized institutions to push these creations.

StoryCo is a global creative marketplace

Justin stated that StoryCo is a “creative marketplace that leverages existing creative talent” and aims to be an open, permissionless platform where any individual can explore, create, and potentially franchise IP with a story or piece of content they “vibe” with.

Value is created through multiple avenues, such as user-generated content contribution, story or funding proposals, completing an activation, or even viewing a story. The StoryPass is a free NFT that gives StoryCo insights on the community’s “nucleus,” said J.P.

Integrating soulbound tokens in storytelling

Soulbound tokens are “non-transferable nonfungible tokens” that can be used 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.

StoryCo’s soulbound token integration is closely tied to its first community story, The Disco Ball. 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 underlying value of the integration is that it allows StoryCo to learn what incentivizes its community better.

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.

The founders believe that Web3 unlocks the capability for people to contribute, and that StoryCo’s mission is to make the entry point to these stories more accessible while eliminating gatekeeping in these proprietary environments.

The StoryCo platform seeks to revolutionize the way people create and promote NFTs. By utilizing various strategies such as Twitter NFT Marketing, NFT Promotion, and NFT Marketing Agency, StoryCo hopes to provide creators with the tools to effectively market and sell their NFTs.

The founders of StoryCo believe that the platform will be a game-changer in the world of digital creation. By leveraging the power of Web3 and soulbound tokens, StoryCo is creating a new paradigm for digital creation and participation.

Be sure to listen to Part 2 of NFT Steez’s conversation with StoryCo’s founders on the new Cointelegraph Podcasts page or Spotify, Apple Podcasts, Google Podcasts, or TuneIn.

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