Blockchain is Changing How Celebrities Interact with their Fans
November 11 2021 - 02:38PM
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The current social media landscape is based on a time-tested format
that only allows fans to interact one way with celebrities. For
instance, they can view photos of their favorite celebs, read their
opinions, see their videos, and more. However, this one-way
interaction is never reciprocated since celebs have no way of
responding effectively to millions of their fans. The Solution
Promify, a blockchain-based social token aims to change the current
social media landscape. Through this platform, fans can purchase
customized tokens from their favorite celebrities and use these
tokens to interact with celebrities. The result is a better two-way
interaction that offers exclusive access to their concerts,
merchandise, and more. How It Works Promify is designed as a simple
mobile link that allows a celebrity to launch a personally-branded
crypto coin (Celeb Coin). This coin is useful for boosting fan
engagement and it lets fans gain early access to things like
exclusive NFTs, events, and merchandise. Those who hold the Celeb
tokens will receive special access that allows them to engage with
their favorite celeb, who would have otherwise been out of reach.
For instance, they could get access to exclusive NFT drops, group
fan meetings, backstage passes, and more. Celebrities that give out
the tokens, also personally gain by being able to identify
“Superfans” who are buying their coins. These are fans with a
vested interest in making the celebrity a success. Consequently,
their exceptionally loyal fans are incentivized to share the
success of their favorite celebrities. How Celeb Coins Work Promify
believes that celebrities should be able to monetize their time on
social media. Unless they are part of the top 1% of celebrities in
terms of following, most celebrities do not make anything from
their time online. If they do, it contributes little to their
general income. Promify believes and their fans should have a
chance to monetize their time. It should not only be the social
media platform that benefits. To do this, those that Promify deems
fit will get a Promify link. This link will allow them to create
Celeb Coins (CC). A creator is allowed to create up to 100,000 CC.
in total, and are allowed to hold onto at most 15% of the coins
they create. This ensures that their fans and not themselves hold
the power at all times. Once bought, celebrities can give the
holders special access. They could get access to exclusive NFTs,
backstage access, fan meet-ups, and more. The Future of the Social
Token Economy Promify is designed as the future of online social
engagement between fans and celebrities. It is going to
revolutionize the social token economy and pave the way for new
income streams for fans and celebrities. It will ensure that loyal
fans get rewards for their devotion to their favorite celebs. At
the same time, it will ensure that celebs can monetize the time and
effort they put into creating content for social media. Protective
Mechanisms Promify has some protective mechanism that will ensure
fans and celebs do not experience the price manipulation of their
tokens. One of them is a sales cap. It is designed to limit how
many tokens a single wallet can hold for early adopters. Such a
move is designed to keep pump-and-dumps tactics at bay. Instead,
CCs are designed to grow in value as the fame of a celebrity grows
in real life. For instance, there is a vesting period for the
creator of Celeb Coins. It ensures they cannot simply pump-and-dump
coins. They actually have to put in the work needed to promote
coins and grow their value. There is also a daily sales
restriction, which ensures those holding the coins are protected
from sudden market movements. All of these measures are designed to
ensure that a sustainable and beneficial long-term ecosystem is
created for fans and celebrities. Fans get value for the time they
spend promoting their favorite celebs while celebs gain for the
time they spend creating content for their followers.
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