In the past few weeks, we have been posting educational articles here as a way to inform, mostly beginners, on the benefits of Web3. We don’t expect to exhaust the matter in just a few short texts, but for now, we think it’s time for us to clarify for you what cobogo is, and what it brings to the table, considering the growth of Web3 and the Creator Economy.
We came up with the idea for cobogo because we know how difficult it is for Creators to make a living out of their creations. Although there are some Web2 platforms that make new ways of monetization more accessible, we have found that these platforms mostly constitute autocracies, with a reputation of demonetizing or deleting content arbitrarily, not to mention the outrageous take-rates. A study showed that 97% of people trying to become YouTubers don’t make enough money off of it to crack the US poverty line, and in Brazil, half of Creators make less than $100 a month.
For that, cobogo has the goal of giving Content Creators the power over their own monetization and their communities, using Web3 to achieve that. To do that, we will offer Creators the opportunity to use our platform to both (1) advertise themselves, their Media Kit, showing their work, metrics, options for collaboration, and any other information they want high-quality clients to see; and (2) be sustainably monetized through their own communities by using our Staking Mechanism. Let’s go through each one of them separately.
Creator Profiles
A Media Kit is an essential tool for every Creator that wants to collaborate with brands. It is like a digital resume that shows their information, their work, metrics, audience demographics, and collaboration options. We have recently brought forward the media market, so that cobogo could be an agency that showcases Content Creators in order to match them with high-quality clients looking to hire influencers to advertise their products or projects.
By onboarding cobogo, Creators will have a profile page generated automatically, that functions as a Media Kit, and which they will be able to edit once they authenticate their channel through the whitelisting process. This Media Kit will allow Creators to advertise their work to potential brands and project proposals, and cobogo will match them with these clients, helping them sell their services at the same time it helps clients find the best Creators for their needs, without exorbitant prices that agencies charge.
Staking Mechanism
We believe in the power people can have whey they come together, and for that, we want Creators to explore the full potential their community can have. With cobogo, Creators won’t have the problem of Creative Industries capturing their value and hoarding it in centralized platforms. Cobogo will be the first Content Creator Decentralized Autonomous Organizations (DAO), and for that, both Fans and Creators will be able to jointly decide on what steps to take, through a governance vote.
Cobogo has a unique monetization mechanism that uses its native token, CBG, to fund Content Creators sustainably. It works by having the Creator mint their own Staking Pool, where their fans can stake CBG tokens on. After that, both Creators and their fans get rewarded in the form of a yield, in a 50%/50% split. This way, fans can get interest in their CBG holdings, and Creators can be funded without having to rely on donations or subscriptions, in a win-win situation.
Additional Features
These two components are at the core of cobogo’s mission, but at the same time, cobogo is much more than that, and it will offer many features for both Creators and Fans.
Content Creator NFT
Every Creator that finishes the onboarding process will be whitelisted and will be able to mint a Content Creator NFT. Besides being a beautiful artwork, this NFT will grant its holders perks, such as having access to exclusive servers in our Discord and Telegram. Most Importantly, the NFT will be the first Content Creator authenticated proxy, which means that everyone that mints this NFT has to necessarily be a Content Creator.
With that, projects or brands that want to get the word around their projects can, for example, airdrop tokens to all Content Creators in our platform, as a marketing mechanism. These Creators, which are natural community builders and influencers, will then be able to use the tokens or try out the product. Hence, the Content Creator NFt will be a valuable asset that will only get more valuable as more Creators join the platform.
Fan NFT
Fans will also get an NFT if they are actively supporting Creators. At the time fans deposit CBG tokens in the Staking Pool of their favore creator, they will receive an NFT that proves that they own a staking position in that specific pool. This NFT will be used to access perks, such as gated videos, Telegram groups or Discord servers. The NFT can also be traded on a secondary market, so fans can sell their staking position directly to other fans, including the rewards.
Referral Program
As a way to distribute CBG tokens to the community and encourage its growth, cobogo will have a Referral Program. In this program, Creators joining the waitlist will be able to invite their friends to join the platform and earn CBG tokens for it. All they will have to do is copy their unique referral link and share it to as many people as they can. If the referred friend actually submits their channel to enter the wait list, they will get 100 CBG as a reward, and the Creator who referred them will get 50 CBG.
Cobogo Expanse
Fans will be able to leverage our staking mechanism to contribute to the growth of cobogo and attract their favorite Creators to our ecosystem. This new growth mechanism will tie together the new Creator Profiles and a community driven growth tool that will align incentives of long term holders and Creators. Fans that like cobogo will be able to stake on the premade profile of their favorite Creator, rewards will be accrued, this specific Creator will be able to claim those rewards (with a vesting period) by performing tasks that promote cobogo’s growth. Holders that also believe in the future of cobogo will be able to stake on high-profile creators that they believe will impact cobogo the most. This way, the community can work together to create financial incentives for Creators to join our ecosystem.
We are also planning on adding some other features that will depend on future collaborations, such as (1) Gated Content, with the Unlock Protocol + Mintagate solution, (2) Direct Donation, that leverages Drips Network, and (3) Social Tokens, through Coinvise. Our team is always active, as you can see in our Weekly Updates, and we appreciate any feedback, or proposals for integrations.
We believe cobogo is extremely well positioned and one step ahead on the future of Web3 and the Creator Economy, so we invite you to come be a part of our story.
About cobogo:
cobogo is a platform made especially for Content Creators, with the mission of giving them power over their own monetization and their communities, using Web3 to achieve that. It has a unique Staking Mechanism that allows fans to support their favorite Creators while earning rewards, and it allows Creators to advertise their work more effectively.
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