A New Era Of Interaction
77% of creators say they earn the majority of their income from sponsored content, while only 23% say they earn the majority from their own products or services.
The creator economy of today is fueled by attention. Statistics indicate that off-platform brand deals drive/account for nearly 80% of creator revenue. The advertising & brand deal models of legacy social platforms are driving the bulk of the value by aggregating attention.
While it may be easier than ever to find an audience, there are several key problems creators face today that RepubliK will solve:
- 1.Content creators have limited revenue streams on platform.
- 2.They provide a ton of value to social platforms and get very little in return.
- 3.Creators have no incentives to discover, teach & groom new talent.
- 4.As is the case with static creator funds, as the platform grows, the creators who build it often become less successful.
- 5.Only megastars have access to the tools that supercharge their careers.
Megastars have talented teams of individuals working together to ensure their continued success:
- Legal teams drawing up and enforcing their contracts.
- Talent agents filtering out all of their opportunities and presenting them with only the very best.
- Accountants making sure they get paid up front for their content and partnerships.
- Sources for investment.
- Teams managing their digital rights.
- Access to global venues where they can perform their content in front of a live audience.
These tools exist, but the high cost and complexity of their administration ensures that only megastars with large revenues have access to them.
There is a world of untapped value in the interactions between creators & their audiences. Attention is generally a one-way street, but interaction is not. And although interaction tends to occur at a smaller scale than attention, there is substantially more value being exchanged within each interaction. While interaction occurs on platforms today in the form of likes, comments, and shares, there is no real value exchange. The few platforms that do focus on interactions are often siloed and exist in isolation. Creators need multiple tools to help them capture value from their interactions and the audience needs fresh and innovative methods to participate in this value exchange.
At its core, RepubliK is a revolutionary platform that values interaction and breaks free from the existing attention-based ecosystems that currently dominate the virtual landscape.
RepubliK leverages the capabilities of Web3 to supercharge existing creator monetization tools. By implementing smart contracts, RepubliK significantly reduces the incremental costs associated with administrative tasks, legal fees, and talent agents. As a result, creators can capture value that was previously difficult to obtain within traditional systems, which were burdened with inefficiencies and costs. The trustless nature of smart contracts eliminates these obstacles and paves the way for a more streamlined and efficient creator economy.
Smart contracts and tokens on RepubliK:
- Reduce admin costs, giving creators a wide range of tools to help them decide who to interact with.
- Empower the audience to support the creators in completely new ways and get rewarded when their creators succeed.
- Build a transparent legacy of supporting creators that can be made visible to all on the platform.
- Enable users of any type at any level on the platform to earn XP and receive airdrops just by interacting with users and content, even if they don’t create any content themselves.
- Allow anyone to share in the success of the platform by holding RepubliK ($RPK) tokens.
- Facilitate cost-free internal transactions, and unified borderless transactions, all without the cumbersome infrastructure of fiat.
Over time, numerous tools have emerged to facilitate the value exchange between creators and their audiences. However, very few have endeavored to establish a coherent platform that encompasses the full spectrum of activities necessary for a thriving and self-sustaining ecosystem where both creators and their audiences can interact seamlessly.