AMA Recap: How Clout.art Build the Content Creator Economy with NFT
Place: TokenClub App
Date & Time: September 22th, 1:00p.m. GMT+1
Guests: Jure Zih (Co-Founder and CEO)
Host: Irene (CryptoGeek Media Manager)
Last week, CryptoGeek was honored to host Jure for an interactive Ask Me Anything session with the CryptoGeek Community. Jure has been in the NFT space since the very beginning. With Clout.art, and an amazing team, he is building a sustainable content-value model for future creator economies with the help of NFTs. The session lasted for 1hr, and consisted of questions from the CryptoGeek Team.
Q1. What problems are you solving with Clout.art and how did you come up with the idea?
The problem with many content creators on social media platforms is the absence of control over who gets the actual revenue from advertisements for the content. This is exactly what Clout.art seeks to address.
First and foremost, we want to help creators in monetising their content. When it comes to Instagram specifically, we all sit on endless amounts of content that is just stuck in our timelines. We believe Clout.art can help creators breath new life into their long forgotten posts by turning them into NFTs and making them available on an open marketplace.
Secondly, it’s not about the creators alone anymore. With Patreon, but later with Onlyfans as well, it’s become obvious that there is a special relationship between creators and fans where both can benefit. NFTs are an important enabler in that and with Sway Social protocol, that is the backbone of Clout.art, we’re allowing fans and followers to also participate in this economic model.
Q2. Tell us about the team, advisors & partnerships. Given your experiences, have you worked with those people on other projects?
We’re a mixture of youth and experience.
Nejc, who is head of development is the youngest on the team, but a prodigy full-stack developer in web and mobile. He co-founded and built one of the biggest student apps in the region and worked on professional aviation software solutions before.
On the blockchain side we’re working with Josh Smith, a veteran blockchain engineer and founder at BlockWell. He conducted token audits for over 12 top tier exchanges and has issued over $100M tokenized assets.
On the product, we have Krešo Gotovac, who has advised startups and corporations and most recently led operations for a VC fund and product discovery for several startups. He built product for the likes of Liverpool FC, Borussia Dortmund and the Italian Soccer League.
Advisors are all domain experts. Like Jasmin, who is Head of Insights for a top-tier social media agency Share Creative from London. Or Angus O’Callaghan on the financial and DeFi modeling side, coming from a background of TradFi (Deutsche, JP, etc.).
So it’s really about diversity in the team. And we’re fully decentralized!
Q3. Could you please explain your tokenomics and how exactly does the SWAY token work, its use cases, and how/where/when can we get it?
SWAY token is the platform’s native, utility token, which can be used for payments, voting, and staking. It also serves as the token supporting the reward system of the platform.
To mint a token, they will have to use the NFT minting tool, which requires SWAY tokens from authors, depending on their number of followers and the status of their profile validation.
Staking is also possible through SWAY tokens. By depositing SWAY to the pool, they also earn more tokens as a reward. Staking is also considered support for the creators and curators of the platform.
Governance functions are only provided to holders of the SWAY token. This allows them to vote on specific parameters such as staking rewards and protocol fees. This mechanism ensures that any change in the set-up of the whole protocol is in consensus with the community.
Q4. What is the most common comment you’re getting after the pitch/project introduction?
The most common question is why do we need to believe the regional cost that is required on clout.art.
Q5. What is Clout.art’s development roadmap this year? What major news should we still look forward to from Clout.art this year?
Our public version is already LIVE and as we speak, first airdrop participants are onboarding and minting their first NFTs. We decided to do the big announcement with the actual TGE later this month.
So, next up for us, end of September, is the TGE and the big launch. But Q4 will be really interesting! Starting with creator pools and creator staking.
In OCT 2021 continuing with a v2.0 version that will be even more non-crypto friendly.
Later this year expanding to Youtube and TikTok… and then introducing the mobile app version as well.
So we’re in for an interesting Fall/Winter season.
Q6. Why choose Polygon to build Clout.art?
Polygon offers considerable speed advantages and far lower, arguably negligible, gas fees.
However, other considerations came into play that helped us choose our path forward.
Scalability
Polygon’s full-stack approach will enable us to expand our resource footprint as we grow our user base from the thousands we expect at the start to hundreds of thousands in the future.
Ecosystem growth & multi-chain
As Clout.art develops, we will inevitably want to evolve into a chain agnostic offering. Polygon’s commitment to interoperability was very attractive to us given that desire.
Support
The team at Polygon has been outstanding in understanding the vision of what Clout.art is looking to achieve and then working with us to create a development path to achieve it. The partnership and support have been second to none. This is especially so, given that Polygon recommended us to apply for a special development grant which we were awarded this week!
The decision, therefore, was made to launch Clout.art on Polygon.
Q7. Will Clout.art plan to build cross-chain migration in the future?
We are happy to do cross chain as well. I think all these projects are going to be cross chain eventually. So clout.art has a plan to build cross-chain migration in the future.
Q8. How do you see the future of creator economies and how does SWAY fit into that?
The new creator economies enable things to be crypto things. All of these are solving this content where you now have something that was blocked in some platform that you didn’t have control over.
Apart from governance and aligning incentives, SWAY is staked to replicate following:
- Content creators establish individual pools for their NFTs.
- Users stake SWAY tokens to the pools (content creators) they wish to support.
- Staked SWAY tokens share in the revenue generated from their specific pools.
Sway is a creator-owned, decentralized social media protocol that uses NFTs to translate social capital into an asset class.
Q9. Is there any plan for the Asian Marketplace? Cause we found that Asian market is really active in NFT.
we plan to to focus attention to the southeast Asia. It has the most players, so it is interesting getting things done here. I think Asia for sure that is where we want to go initially.
