Feb 18, 2023
StoryCo: Unlocking Creative Talent Through Soulbound Tokens
This week on NFT Steez, co-hosts Alyssa Expósito and Ray Salmond continue their discussion with Justin and J.P. Alanis, the co-founders of StoryCo, an open media platform that is pioneering the new wave of crypto-driven content creation.
StoryCo is a global, open, permissionless platform that seeks to democratize the process of content creation and franchising intellectual property (IP). Justin explained that the platform is a “creative marketplace that leverages existing creative talent” and allows users to explore, create, and potentially franchise IP with stories or pieces of content they “vibe” with.
The founders of StoryCo are also introducing soulbound tokens to the platform, which are “non-transferable nonfungible tokens” that can be utilized to authenticate and verify someone’s identity, actions, or achievements in Web3. Soulbound tokens will be integrated into StoryCo’s first community story, The Disco Ball, to track members’ participation and consumption of the story.
The founders of StoryCo believe that this new technology is a new paradigm that unlocks the ability for people to contribute, and that StoryCo should be owned by the community of people contributing value to the platform. To that end, 50% of The Disco Ball’s net proceeds will be allocated to a shared treasury, where the community will begin to propose and vote on the platform’s evolution.
Alyssa and Ray also discussed the potential of NFT marketing and promotion, and the role of a NFT marketing agency in helping creators sell their NFTs. J.P. Alanis pointed out 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, but StoryCo intends to mitigate the noise by making the entry point to these stories more accessible.
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 to learn more about the exciting potential of NFTs, crypto, and Web3.
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