The current social media landscape is based on a proven format that only allows fans to interact with celebrities one way. For example, they can see photos of their favorite celebrities, read their opinions, watch their videos, etc. However, this one-way interaction is never reciprocated, as celebrities have no way of effectively responding to millions of their fans.
To promise, a blockchain-based social token aims to change the current social media landscape. Through this platform, fans can purchase personalized tokens of their favorite celebrities and use those tokens to interact with celebrities. The result is better two-way interaction that provides 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 personal branded crypto coin (Celeb Coin). This coin is useful for boosting fan engagement and gives fans quick access to items like exclusive NFTs, events, and merchandise.
Those who hold the Celeb tokens will receive special access that will allow them to chat with their favorite celebrity, who would otherwise have been out of reach. For example, they might have access to exclusive NFT drops, fan group meetings, behind-the-scenes passes, and more. The celebrities who distribute the tokens also gain personally by being able to identify the “superfans” who buy their coins. These are fans who have a vested interest in making fame a success. Therefore, their exceptionally loyal fans are encouraged to share the success of their favorite celebrities.
How Celebrity Pieces Work
Promify thinks celebrities should be able to monetize their time on social media. Unless they’re in the top 1% of celebs in terms of following, most celebs don’t make any money 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 shouldn’t be just the social media platform that benefits.
To do this, those Promify deems appropriate will receive 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 keep no more than 15% of the pieces they create. This ensures that their fans and not themselves hold the power at all times. Once purchased, Celebrities can give holders special access. They might have access to exclusive NFTs, behind-the-scenes access, fan meetups, and more.
The future of the social economy of tokens
Promify is designed as the future of online social engagement between fans and celebrities. This will revolutionize the social economy of tokens and pave the way for new sources of income for fans and celebrities. This will ensure that loyal fans get rewards for their dedication to their favorite celebrities. At the same time, it will ensure that celebrities can monetize the time and effort they spend creating content for social media.
Promify has a protection mechanism that will ensure that fans and celebrities do not experience the price manipulation of their tokens. One of them is a sales cap. It is designed to limit the number of tokens that a single wallet can hold for early adopters. Such a move is designed to keep pumping and dumping tactics at bay. Instead, CCs are designed to increase in value as a celebrity’s fame grows in real life.
For example, there is a vesting period for the creator of Celeb Coins. This ensures that they can’t just pump and empty parts. In fact, they must do the necessary work to promote the coins and increase their value. There is also a daily sale restriction, which ensures that those who hold the coins are protected from sudden market movements.
All of these measures are designed to ensure the creation of a sustainable ecosystem of long-term benefit to fans and celebrities. Fans get value for the time they spend promoting their favorite celebrities, while celebrities earn for the time they spend creating content for their followers.