Feb 18, 2023
StoryCo: Unlocking Value Through Soulbound Tokens
This week, Alyssa Expósito and Ray Salmond of NFT Steez welcomed the co-founders of StoryCo, Justin and J.P. Alanis, to discuss the potential of a community of creators franchising intellectual property (IP) through collaboration and soulbound tokens.
J.P. Alanis spoke on his experience with musician Tyler the Creator, emphasizing that content creation is not only limited to one creator, but should be open to all types, including fans. However, he noted that there can be barriers to incentivizing creators and navigating the bureaucratic nature of centralized institutions to push these creations.
StoryCo is a global creative marketplace that leverages existing creative talent. It is an open, permissionless platform where any individual can join, 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.
The StoryPass is a free NFT that gives StoryCo insights on the community’s “nucleus.” Soulbound tokens 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.
The Disco Ball is StoryCo’s first community story and the StoryPass is a dynamic soulbound token that tracks members’ participation and consumption of the evolving story. After users unlock achievements with their StoryPass, their StoryPass is altered to reflect that.
StoryCo aims to become a public good, 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 of StoryCo believe that this new technology is a new paradigm, similar to the “internet as a new paradigm,” which unlocks the ability for people to contribute. To learn more about StoryCo, be sure to listen to Part 2 of NFT Steez’s conversation with the founders on the new Cointelegraph Podcasts page or Spotify, Apple Podcasts, Google Podcasts, or TuneIn.
As the world of web3 continues to expand, the potential for NFTs to revolutionize the way creators and fans interact has never been greater. StoryCo is an example of how NFTs can be used to incentivize and promote content creators, while also providing a platform for fans to engage with their favorite creators and franchises.
NFTs can be used to promote creators, franchises, and products, with the added benefit of being able to track and verify user engagement. NFTs can also be used to create soulbound tokens, which are non-transferable nonfungible tokens that can be used to authenticate and verify someone’s identity, actions, or achievements in Web3.
StoryCo is an example of how NFTs can be used to incentivize and promote content creators, while also providing a platform for fans to engage with their favorite creators and franchises. Through the use of soulbound tokens, StoryCo is able to track user engagement and allocate 50% of net proceeds to a shared treasury, allowing the community to propose and vote on the platform’s evolution.
NFTs are becoming increasingly popular for marketing purposes, and Twitter is one of the most popular platforms for NFT promotion. NFT marketing agencies are popping up all over the web, offering services to help creators and brands sell NFTs.
As the web3 space continues to evolve, the potential for NFTs to revolutionize the way creators and fans interact has never been greater. NFTs offer a unique opportunity for creators to promote their content, and for fans to engage with their favorite creators and franchises. With the help of NFT marketing agencies, selling NFTs has never been easier.
Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.
