XFL Tokenomics, Part 2
The utility for Flame Token: Advertising
Welcome to part 2 of our XFL Tokenomics series. If you want to read the first part “The use case and market for Flame Token in numbers”, please click here: XFL Tokenomics, Part 1
Unlike many other crypto projects, we didn't start with a whitepaper and a token sale. We have been always convinced that a project should build first the utility and then launch the token. But we wrote a whitepaper, you can find and read it here: https://flametoken.io/whitepaper/
Build the utility first
We are not alone with our strategy to build use cases for utility tokens first.
We couldn’t agree more: A token without a use case has no value. A token needs a use case or a utility that drives its value. And you need to build it before you issue a token. And that is exactly what we did.
Flame Token (XFL) is a utility token that serves as a medium-of-exchange for promoted posts (advertising) on our social discovery platform Sharesome. We built the platform already and we rolled out advertising on the site. Now we start to launch the token.
The value of XFL will grow with the utility, which means when the volume of sold ads on Sharesome grows.
We enable millions of creators to promote their content to users
The Passion Economy started in the adult industry. 1.5 million adult content creators generated 2021 $6 billion in revenue on OnlyFans alone. Sex workers are replacing gig work for studios with a new way to monetize their skills: They earn a passive income.
In the past 3 years, we’ve built the social discovery platform Sharesome as a
PWA (Progressive Web App) which already has 1.6M MAU and with $XFL as
its native currency. Our mission is to give adult content creators everything
they need to promote themselves.
It is our mission to build the Holy Grail of the creator economy: Advertising!
Therefore, we built Sharesome as the utility and $XFL as the medium-of-exchange token.
What is Sharesome?
Think of Sharesome as a mix between Instagram, Twitter, and Reddit — without the hate-speech, but with the nudes. Sharesome is basically a sex-positive social media site.
We started Sharesome as we saw the need for NSFW content creators to have a platform where they don't get constantly harassed and banned, and where they could freely advertise their monetization platforms.
Despite the fact that adult content creators generate billions of USD in revenue each year, they do not have a social platform where they can promote what they do. The policies of mainstream social media platforms ban all kinds of content related to sex, even erotic art, or talk about sex or common kinks. Sex workers are basically de-platformed. Imagine Pizza Hut wouldn’t be allowed to talk about cheese and tomatoes on their Instagram profile…
Some OnlyFans creators make hundreds of thousands of dollars every month, but can’t spend a single dollar on social media ads. Imagine running a multimillion-dollar media company and not being able to purchase ads on Facebook…
Here is where Sharesome comes in and acts as a discovery platform for NSFW content.
The freedom to be you
We bring nudes and crypto to social media.
Sharesome is the only social media platform that allows posting nudes and advertising for NSFW content. Sharesome does not discriminate. On Sharesome, we encourage content creators to send traffic to their paysites.
Sharesome provides a safe place to share adult content and one where everyone is free to explore their sexuality in a positive and mindful way.
More than an OnlyFans promotions platform
Not only sex workers are the target of the “war on porn”, but it’s also people with no commercial interest that seek to connect with like-minded people. These concerns communities like the LGBTQ+ or BDSM communities, or private persons looking for connections or exposure for their kink.
We learned about this after we launched the first version of our Promoted Post ads, and we discovered that 70% of our advertisers don't have any commercial interest, which means they did not advertise any OnlyFans or other monetization platforms.
So, why would someone spend hard-earned money to promote a social media profile if there is nothing to be sold? We asked the same question and started a series of interviews with those advertisers. Here are some of their stories:
- The coming out: We found a person who wrote a Facebook post, addressed to friends, family, and coworkers, about him being gay, and why that wouldn’t matter. The post was also about the fact that his long-term roommate was in fact his spouse, and why that would matter. The next day, he would log in to Facebook to find out that his account was blocked for sexually explicit talking. The person told us to have found Sharesome’s Community Guidelines very liberating, and that he uses Sharesome to talk openly about his sexuality and to connect with other people from the gay community.
- Too sexy for that shirt: We found a person who posted a sexy picture of herself on Instagram. Not nude, no nipples shown. The next day the post was removed for violating the rules regarding inappropriate content. The person told us that she enjoys tom post whatever sexy content on Sharesome without having to be afraid of losing the account for that reason. (Just for the protocol: We never found a male user that was ever punished from Instagram for being too sexy. Just women.)
- Too kinky for TikTok: We found a person who lost her TikTok account several times for posing in BDSM gear. The same clips don’t violate Sharesome’s rules. The person told us to enjoy now the feedback of the BDSM community on Sharesome.
These are just three stories that are exemplary of the hostility of mainstream platforms against everything sexy. But they show also that Sharesome has become more than just a platform where creators promote their paysites, Sharesome became a safe zone for many other people who want to have the freedom to be themselves.
The social media landscape will become another player in the future: Sharesome, the social media network for all things sexy. Hundreds of millions of active users will enjoy the network pseudonymous while being on Facebook to connect with friends, on Instagram to show off, on Twitter to get the news, and on Tik Tok to watch silly videos.
We believe that there is a potential of 200–700M users for a sex-positive social media site.
Ad performance 2022
We have built already Promoted Posts, Profiles, or Topics for
paying clients through a self-serve advertising platform.
But who are the advertisers?
- Adult content creators who advertise their OnlyFans page, other paysites, or live cam sites.
- Brands like Brazzers or Vixen advertise their paid membership websites.
- Private persons looking for exposure for their kink.
What are the current KPIs?
Creators: CTR (0.09%), Eng. Rate (1.61%), Avrg. F. (174), CPC ($0.22), CPM ($1.33)
Brands: CTR (0.09%), Eng. Rate (0.88%), Avrg. F. (260), CPC ($0.15), CPM ($0.22)
Verified users: CTR (n/a), Eng. Rate (2.87%), Avrg. F. (191), CPC (n/a), CPM ($1.27)
CTR = Clickthrough rate (CTR is the number of clicks that your ad receives divided by the number of times your ad is shown: clicks ÷ impressions = CTR. For example, if you had 5 clicks and 100 impressions, then your CTR would be 5%.)
Eng. Rate = Engagement rate (The number of times people engage with your post divided by the number of times your post is shown: engagements ÷ impressions = Eng. Rate. For example, if you had 2 engagements (likes, shares, comments…) and 100 impressions, then your Eng. Rate would be 2%.)
Avrg. F. = Average new followers per month (How many new followers you gain per month.)
CPC = Cost per click (Advertising campaign cost divided by the number of clicks: costs ÷ clicks = CPC. For example, if you paid $10 for a campaign and you had 50 clicks, then your CPC would be $0.20.)
CPM = Cost per thousand (Advertising campaign cost divided by the number of impressions divided by 1,000: costs ÷ (impressions ÷ 1,000). For example, if you paid $10 for a campaign and you had 10,000 impressions, then your CPM would be $1.00.)
Creators = All verified accounts that promote an OnlyFans, Camsite, Clipsite, etc.
Brands = All verified companies like Brazzers, VIXEN, Adultprime that promote their products or services.
Verified users = Verified amateurs without commercial interest.
We also compared our KPIs with our mainstream peers.
Not that you could advertise an OnlyFans profile on Twitter, Instagram, or Facebook. But even if you could, Sharesome performs best.
More info: https://sharesome.com/business/
Check Flame Credit transactions
Flame transactions happen on-chain (Flame Token) and off-chain (Flame Credits), but only the on-chain transactions are visible through a Blockexplorer. As Flame Credits are off-chain, but already used to purchase advertising, we wanted to make them visible.
That’s why we build XFL Scan: https://xflscan.io/
How the XFL ecosystem works
The Flame Token is built as the native currency of Sharesome to enable universal access to social media and to advertising for NSFW content. The Flame Token (XFL) is a blockchain-based token compatible with the ERC-20 standard of the Ethereum blockchain.
Flame Token has a maximum supply of 21 billion XFL.
Flame Token have to be exchanged into Flame Credits for the use on Sharesome. We implemented Flame Credits in order to allow instant and free transactions between users. These are stored on the Sharesome server.
Before DEX listing
There are two ways to get Flame Credits right now:
- The Flame Token bridge: You are able to deposit your on-chain Flame Token in your Sharesome wallet by sending them to an address that you will be given and the corresponding amount of off-chain Flame Credits will be credited to your Sharesome wallet at the given exchange rate.
2. Credit Card Gateway: You are able to buy Flame Credits against fiat directly on Sharesome.
The price of Flame Credits is set by us and depends on the purchase amount. Right now the purchase price is between $0.01 and $0.05.
After DEX listing
The implementation of the final token flow (after Flame Token are listed on a DEX) will look like this:
- The Flame Token bridge: The user can send Flame Token to the Flame Token Bridge and receives Flame Credits in his wallet based on the exchange rate of 1 Flame Token = 1 Flame Credits. (One of the last features we will implement are withdrawals where a user can exchange Flame Credits 1:1 into Flame Token and send Flame Token back to his ERC20 wallet.)
- Credit Card Gateway: The user can purchase Flame Credits via the Credit Card Gateway and receives Flame Credits in his Flame Credits wallet. Flame Credits purchased through the Credit Card Gateway are purchased at a premium on market prices. Any purchases done on the platform are converted to Flame Tokens in the background, creating demand for tokens. This demand is filled by Sharesome’s token balance. If the balance is insufficient, then tokens are purchased off
the market to replenish it.
The price of Flame Token (and thereby Flame Credits) is determined by the market.
Thanks for reading Part 2 of our Tokenomics articles. We will continue in the next article by talking a bit more about how we want to grow the utility of Flame Token beyond Sharesome.
Stay tuned.
Further research
The best way to start your journey into Flame Token is our website: www.flametoken.io
Especially these parts:
Flame Token Whitepaper: https://flametoken.io/whitepaper/
Presentation: https://flametoken.io/flametoken_pitch2022/
Join the conversation here:
Discord: https://discord.gg/sharesome
Sharesome: https://sharesome.com/FlameToken/
Twitter: https://twitter.com/FlameToken
Telegram: https://t.me/FlameTokenNews
Reddit: https://www.reddit.com/r/flametoken
Best regards
Ralf Kappe, Flame CEO & Founder
https://sharesome.com/RalfKappe/ (NSFW)
https://twitter.com/RalfKappe
