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ChainX Exchange

Weentar Token ($WNTR) IEO on ChainX

About Weentar Token (Website : www.weentar.com)

The Weentar project

Weentar is a decentralized social media platform that is giving full control back to the creators and their communities without intermediate parties’ censorship or cash grabs.

Why Weentar?

Traditional social media platforms have become the arenas of the big dogs. There is a small “elite” who takes 95% (or even more!) of the spoils while average creators only receive a quantum of the reward they actually deserve. The reason for this is that these platforms have been hijacked by advertisers and marketers. Even consumers are “working” for free on these platforms by providing their valuable personal data without seeing a penny in return.
Weentar targets this problem by building a platform that provides creators and their communities both: full control over their data as well as their reward system for monetizing intellectual property. Gone are the days in which the platform land lords claimed their land tax over the hard earned crop of the creators. On Weentar, creators can directly connect with their fans by providing their content as NFTs that consumers can access via multiple channels that are all beneficial for the ones who really care: the creator and their followers.

Decentralized social media would be led by celebrities

One of the things that we understand deeply at Weentar is that real adoption happens when the relevant people campaign for it. Our strategy to become the top social media 3.0 platform will be our campaign to onboard celebrities, influencers and creators of all genres in various countries to spread the word of mouth regarding this revolution.

  • For Creators : Creators can gain independence through a decentralized personal digital currency system that is linked with their growth and engagement with their community. On top of this, creators build their content as NFTs which they distribute through their own ecosystem with their digital currency being the backbone of that system.
  • For Consumers : Consumers can now interact with their favourite creators like never before. By holding the social token of their beloved creators, they remain an active part of the creators community. They gain access to exclusive content by holding a certain amount of a person’s social token or are able to purchase really unique masterpieces from the creator’s digital pencil.

Market Size

There are over 50 million self identified creators in the social media space. Over a million of these are celebrities in different countries around the world. What does this mean? That is a potential for 50 million communities with their own tokens. A working concept and the right publicity means 50 million people would potentially in the next decade through our platform others like it campaign to their thousands and millions of followers to join them on there. They would do this because of the increased earning power it provides, and the people oblige them because of what they also get to gain.

Think about it like Onlyfans on crack, with the users and the creators being both super bullish. This is easily a Multi Trillion Dollar Alternate Economy, and we cannot even begin to fathom the many real world use cases a platform like this would have and how new forms of trade previously unthinkable would come about.

A competent & growing team

A CTO and co-founder who is a blockchain developer from Germany and a tech lead in an IT firm. A CEO and co-founder from Newport Beach California, with working experience from one of the biggest crowdfunding platforms in the space that has raised over 133 Million dollars in various successful projects.

A senior blockchain talent from Nepal, and a product development relationship with a software company that has also been involved in helping build the platform for some of the biggest projects in the space. We are writers, developers, designers, graphic artists and social media marketing persons all working together to create this new and exciting future.

Some technical details

Our goal is to provide an infrastructure that is easy to use for both creators and consumers alike. We are planning to create our own blockchain infrastructure which is serving this purpose in the most efficient manner. On top of this infrastructure, we are going to build a community-driven platform that brings creators and consumers closer together than any other platform before. We are using the unique capabilities of blockchain technology to reach this ambitious goal.
Creators accessing the network will be assigned their own collection contract (following the ERC 1155 standard). One of the very first steps for most creators will be the creation of their own social token (following the ERC20 standard). The collection contract inherits special functionality from a network central template which provides the option to easily create such a token that will play a special role in their whole content ecosystem. Once their social token is created, creators can distribute it to their community without any platform fees or boundaries. There can only be one social token per collection contract due to its central role in a creator’s content ecosystem.
Besides creating their social token, with the assignment to their content collection, creators are provided the option to create their content as NFTs (following the ERC721 standard).

Creating NFTs will be as easy as uploading the content to the network and specifying a name, an optional description as well as a total supply. Any content NFT will be assigned to one of three content value layers (bronze, silver, gold).

In general value, layers are linked to a certain threshold of the network’s native coin, which users need to have in their wallet, in order to access the content of that value layer. Once the content-NFT is created, creators can distribute it as they like, e.g. providing access to it via special “access rules”, distribute it to loyal fans or sell it via the network’s NFT marketplace. In order to reward loyal fans indirectly and drive their social token at the same time, creators can define the above-mentioned access rules for their content.

Via these rules, creators can define a certain amount of their social token consumers need to own in order to access their content. Thus access rules provide creators the option to create premium content accessible for all of their most loyal fans.

From a consumer’s perspective, the network provides a gateway to interact with their favourite artists, celebrities, or influencers like never before. By using blockchain technologies such as NFTs, fans can now easily own certain unique pieces of their hero’s work as they never could before. Imagine naming a song of your favourite pop star your very own or having a piece of art of the next Picasso in your digital wallet.

By owning social tokens fans can support and reach out to creators like never before. Creators are able to identify their most loyal fans easily by checking their social token balances and thus are able to treat the ones who are most responsible for their success in a way, they were not able to before.

The network’s fuel will be its native coin $WNTR which will launch together with the blockchain. With $WNTR creators can add their content to the network that consumers can purchase by paying $WNTR.

Currently, we are working hard on specifying the technical detail of this chain in order to create the perfect technical fit for the above-described purpose. There are many options out there to choose from, but since our mission is to provide the best experience for all network participants we do not want to make a blind decision but rather identify the perfect basis for a unique experience of this next-level social ecosystem.

Weentar is Reimagining social media through the power of the blockchain

You can participate IEO and check more details from this website (https://chainx.kr/)

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