Solving the Problem of Creator Independence Through NFTs
The Artist Crowdfund Exchange, or “ACE,” lives at the intersection of technology, entertainment, and sports. ACE is a social platform that allows content creators such as artists and entertainers to sell exclusive access to their content through ethereum-backed NFTs. Fans can interact with their favorite creators based on a tired-access model and have the ability to sell their access to other fans to earn a profit. Artists, athletes, and other creators are wanting to take back their power and become more independent.
A platform like ACE makes independence possible even in the early growth stages of a creator’s career. Access and the emotional connection between fans and entertainers get monetized by allowing fans to price what access to an entertainer is worth through NTFs. If the fan has more tokens, they are granted greater and closer access to the entertainer through ACE’s social media platform. The decision is up to the fans to sell their NFTs to other fans for financial gain based on the appreciation of the NFT from the market demand and lack of supply.
ACE plans to target Millennials and Gen-Z users with common interests in music, sports, and entertainment. They benefit from this social platform through the direct interactions with the content creators they know and love. For fans, ACE provides the ability for them to buy closer, more exclusive access to their favorite artists and sell that access to other fans to make a profit. ACE is attractive to artists who can use the platform and bring their existing social media followers to the platform, building the initial user base. To incentivize more users to join the platform, ACE plans to pair live events with NFT releases and use celebrity thought leaders to generate interest in the platform. As talent continues to come on board and creators begin to sell their tokens, fans will need to sign up to buy. Determining how much access a user has is where Tiers will come into play. Depending on how many tokens you have for a particular artist, you will have exclusive access to assets such as restricted content and having the ability to send high-priority direct messages.
Every talent is minted 100,000 tokens. After all the initial tokens have sold, the users can only buy tokens from other users, generating value by the demand and supply of tokens. The talent also can restrict the visibility of their posts by these access tiers making the content exclusive to their fans above a certain. This capability allows creators to profit off the demand for exclusive content and inspires them to create unique content for just their premium followers. In every transaction in which their tokens are bought or sold, the creator profits. Whether in the initial sale or secondary transactions between fans, creators have a valuable opportunity to monetize their brand by giving fans exclusive access and the ability to directly message their favorite creators.
