Currently, there are a few ways to support your favorite artists and creators, based on Web2. Patreon, Kickstarter, Ko-Fi, Indiegogo are just a few examples of crowdfunding platforms where you can donate to someone that is doing something that you like. In some of them, you can even buy a “monthly subscription”, where you get billed monthly on your credit card to get access to special content or exclusive perks, something even YouTube and Twitch have started to introduce in their platforms. However, all of them rely on the same formula: you give off your money and you get the benefits in return.
What if you didn’t have to give off your money, and instead, you could deposit it in a savings account that pays interest for both you and the Content Creator you want to support? That would mean your initial contribution would still be there for you to withdraw any time you want, and you could even withdraw more than what you initially deposited! Crazy, right?
With Web3 and Blockchain that is possible. Except it is not a savings account, but a Smart Contract, that is, self-executable programs that run independently of the network and of those who program it, and it is not an interest, but a yield that is split 50–50 between you and the Creator. This is feasible using DeFi and a unique staking mechanism we have designed, where you deposit tokens in the Staking Pool of the Content Creator you want to support, and both of you get tokens back in rewards, while you still keep the initial amount invested.
The token in question is our native token, the CBG. Content Creators can earn CBG tokens using the referral program and referring more Content Creators friends to join the platform, and those friends who onboard cobogo will earn CBG too. Fans will also be able to use the referral program to recommend Content Creators they think should join the platform in the future, and will earn CBG for every Creator that onboards. Beside its use for staking, this token will be a Governance Token as well, so its holders will have the right to vote for the decisions of the DAO, and make proposals to be voted by the DAO.
For that, cobogo is different from any other way you can support your favorite Creators. With YouTube, you can subscribe to a channel for free or become a member for a monthly fee that will give you access to special content or more closeness to the Creator, and the same goes for Twitch, Patreon, kickstarter and any other platform. They all work similarly: you make a donation or a subscription, paying for the service. With cobogo, fans will be able to have a Staking Position, that will give them access to special content, exclusive Discord/Telegram groups, vote for future videos, and any other perk the Creator wants to offer, just by staking for them. This means you will be able to support your favorite YouTuber sustainably, through staking, instead of just donating your money to them (or to the funding platform that would most likely get a high percentage as fee in return)
With Blockchain, Creators can monetize their work without having to rely on a big media platform that would require them to have a large number of supporters in order to earn a decent income. YouTube requires video makers to have at least 1,000 subscribers in order to join the YouTube Partner Program, and Spotify pays $0.04 per 10 streams, which is not much. Take RAC, a Grammy winning artist, as an example. He has made 12.5 ETH (about $39,000 at the time) from selling his song to 100 fans, using Blockchain, which in Spotify would be equivalent to 9.75 million people listening to his song!
This is just one quick example of how blockchain can empower Creators of all kinds, and you, as a fan, can be a part of that history. With cobogo, even small YouTubers can be monetized and have income in spite of having a small community, and this community can work together in order to grow together. You’ll be able to have a much more close relationship with the YouTuber you like, not only supporting them monetarily, but being an important part in the decision-making process.
In summary, cobogo works as follows: you buy CBG tokens, stake those tokens in your favorite Content Creator’s pool, and you earn rewards on a block (minute) basis based on the current APY (Annual Percentage Yield). You can withdraw your CBG tokens anytime you want, you can stake to multiple Creators, and everyone you stake for will also earn the rewards.
If this still feels very strange to you, and you have any doubts regarding this process, or blockchain in general, don’t hesitate to contact us! We also have a section on our documentation with Blockchain Basics that can be really helpful.
About cobogo:
cobogo is an aggregator of protocols that has the goal of funding Content Creators sustainably through their own community. It is a dApp that leverages Web 3.0 to monetize Creators while maximizing their growth and community building abilities.
Website | Documentation | Discord | Twitter | Telegram
