The current social media landscape is based on a time-tested format that only allows fans to interact with celebrities in one way. For example, they can view photos of their favorite celebrities, read their opinions, watch their videos, and so on. However, this one-way interaction will never be rewarded, because celebrities cannot effectively respond to millions of fans.
promise, A social token based on blockchain, designed to change the current social media landscape. Through this platform, fans can buy customized tokens from celebrities they like and use these tokens to interact with celebrities. The result is better two-way interaction, providing exclusive access to their concerts, merchandise, etc.
How does this work
Promify is designed as a simple mobile link that allows celebrities to launch their own branded cryptocurrency (Celeb Coin). The token is very useful for increasing fan participation. It allows fans to get exclusive NFTs, events and merchandise in advance.
People who hold celebrity tokens will get special access rights, allowing them to interact with their favorite celebrities, otherwise they won’t be able to reach them. For example, they can get exclusive NFT rewards, group fan meetings, backstage passes, etc. Celebrities who issue tokens can also obtain personal benefits by identifying “super fans” who purchase tokens. These fans have a vested interest in making celebrities succeed. Therefore, their particularly loyal fans are inspired to share the success of their favorite celebrities.
How celebrity coins work
Promify believes that celebrities should be able to monetize their time social media. Unless they are the top 1% of celebrities by followers, most celebrities will not do anything online. If they do, it will contribute little to their general income. Promify believes that their fans should have the opportunity to monetize their time. It’s not just social media platforms that will benefit.
For this purpose, those whom Promify deems appropriate will get a Promify link. This link will allow them to create celebrity coins (CC). A creator can create up to 100,000 CCs. In total, and up to 15% of the coins created by them are allowed. This ensures that their fans, not themselves, always have power. After purchase, celebrities can provide holders with special access rights. They can access exclusive NFTs, backstage visits, fan gatherings and more.
The future of the social token economy
Promify aims to be the future of online social interaction between fans and celebrities. It will revolutionize the social token economy and pave the way for new sources of income for fans and celebrities. It will ensure that loyal fans are rewarded for their loyalty to their favorite stars. At the same time, it will ensure that celebrities can monetize the time and energy they spend creating content for social media.
Promify has some protection mechanisms to ensure that fans and celebrities will not experience price manipulation of their tokens. One of them is the sales ceiling. It aims to limit how many tokens a single wallet can hold for early adopters. Such a move is aimed at preventing the emergence of a strategy of skyrocketing and plummeting. On the contrary, CC is designed to add value as the celebrity’s reputation in real life grows.
For example, the creator of Celebrity Coin has a vesting period. It ensures that they cannot simply flip a coin. They actually have to put in the work needed to promote the coin and increase its value. There are also daily sales restrictions to ensure that those holding tokens are protected from sudden market fluctuations.
All these measures aim to ensure the creation of a sustainable and beneficial long-term ecosystem for fans and celebrities. Fans gain value because they spend time promoting their favorite celebrities, and celebrities gain value because they spend time creating content for fans.