June 20, 2022

New ways to monetize your social media

The blockchain is revolutionizing how you can generate income through your social media account. Crypto is making it easier than any time before!

Social Media Monetization is how you generate revenue from your social media profile. Why would you even want to earn money through your social media account? Well, You put many hours of sweat and tears into making it thrive and you deserve to be paid for the value you create on the platform. The traditional method of generating revenue from your social media profile is to become a sales person, create an audience and sell or advertise products to them. However, not everyone is a salesperson and many users feel harassed through advertisements. Luckily enough, web3 is here to revolutionize the way people generate money through social media. 

In this article we are going deep into how web3 has opened doors for numerous ways through which creators can monetize their content.

1. Post to Earn

Imagine you could be paid just for creating high value content about the things you love. Well, no need to imagine anymore because this is possible right now with Desofy. Through social tipping, AKA diamonds, creators can generate revenue directly off their content. The reason why social tipping is famous on Desofy is because of the native currency $DeSo which is blazingly fast to send even the tiniest amount of money to your favorite creator. Creators on Desofy have made thousands of dollars just through posting their regular social media content.

Social tipping is a very powerful and effective method of generating revenue off your content. Imagine you have 5000 active followers and assuming that only 10% of them give you $0.1 each per post, possible right? You will have $50 from just one single post!

2. Social Tokens

Social tokens are a type of crypto coin that a brand, community or an influencer can use to build communities and monetize themself beyond regular means. Creating a coin that lives on the blockchain is not a hustle any more. On Desofy, every profile has its own coin. Fans can purchase their favorite creator coins treating them as an investment or to access special perks of being the token holder. Social tokens allow content creators to engage with their fans more closely. Through social tokens, creators can easily form a community of loyal followers where relevant special content can be shared. Also, Desofy makes it easy for creators to stay closely connected with their coin holders through a special coin holders filter in the messages that helps move your close community to the top of your inbox!

Besides, creator coins can also be used as a gatekeeping mechanism by offering premium access to content only to their creator coin holders. Every time creator coins are bought, the creator earns Founder’s Reward. Founder reward percentage is set by the creator himself. If a creator coin’s founder reward percentage is set to 10%, every time a fan buys the creator coin, 10% of the amount will directly go to the creator himself!

3. Non Fungible Tokens (NFTs)

NFTs on its core are tokens on a blockchain that represent the digital ownership of an item.

By the means of NFTs, one can tokenize things like art, collectibles, event tickets and even real life objects. An NFT can only have one owner at a given time and no one can alter the record of ownership. Desofy enables creators to mint social NFTs on their profile with almost no gas fee.

Creators can leverage NFTs to tokenize their access to time and content. An NFT could represent a ticket to an event, analysis of business plan, mentorship or one hour on a podcast. The options are unlimited and NFTs allow creators to sell part of their time or content in a way that wasn’t possible before. For example, DiamondHands, the founder of DeSo blockchain who also actively uses Desofy, sold this Dinner NFT for 85 DeSo (worth ~$13,000 at that time). The owner of the NFT got an opportunity to have dinner with him and along with top minds in crypto.

Apart from NFTs being tradable assets, it can also become a passive source of income for artists. For example, an artist can mint 1000 unique pieces of art and sell it to his fans. Due to the rarity, there will be secondary sales of the art and the original artist can take some percentage from the secondary sales through NFT royalty.

Apart from creator royalty of the NFT, the creator can also set sales royalty for his coin holders. This intersection of social tokens and NFT royalty for token holders is what makes Desofy even more interesting. NFT royalty for coin holders promotes long term holding of the social token and hence the token becomes more attractive from an investment point of view. Desofy’s user interface makes it effortless for users to mint NFTs with creator and coin holder royalties.

How Desofy is revolutionizing the Creator Economy?

In the current state of the Internet, there is a huge gap between the value a user provides on traditional social platforms versus the value the creator receives in return. We at Desofy solely believe in reducing this gap to zero. By leveraging the blockchain technology, Desofy has enabled creators to generate handsome income directly off their content through a seamlessly intuitive user interface. From smooth diamond tippings, to one click NFT mint, our ambition has been to make web3 more accessible and viable to every Internet user.

Apart from having a necessary set of tools for creators, Desofy also has analytic tools for creator coin investors and NFT collectors. Our ultimate goal is to build a platform for everyone where creators can generate revenue, fans can grow along with their favorite creator and consumers can earn crypto by sharing content. All that while the users own their content and enjoy free-speech and no censorship. You can join us in this revolution simply by creating your decentralized Identity on Desofy!

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