Creator-owned Smart Contracts
When Instagram earns $26.5 billion a year from advertising revenue and pays creators $0, something is broken.
Many industry leaders like HubSpot Founder, Dharmesh Shah, believe the current model is backwards and share the sentiment that creators should be rewarded in kind for the audience they attract.
The problem is that as soon as you post an image or video you are handing over ownership rights to Instagram. Twitter is the same way, when you tweet you hand over rights to Twitter to fully monetize your thoughts with ads.
Change begins with creator-owned content.
Introducing Sovereign Smart Contracts
What if instead of sending your content to a centralized company’s media server and database, social platforms read content from your wallet and rewarded you each time a user interacted with your work…
This is possible with creator-owned NFT collections.
Ownchain’s NFT collections are built on Zora’s ERC-721 creator smart contracts which allow creators to launch NFT drops on Ethereum.
Through Ownchain, creators can launch new NFT drops with custom royalties, supply count and auction times all without touching a single line of code. Plus all files minted are stored on the permanent web so your work can never be removed.
Every creator on Ownchain gets their own storefront to share their NFT drops. Because your content is minted on Ethereum it’s now available for purchase from your storefront or via secondary sales on OpenSea.
Why this is Important
All NFT collections launched through Ownchain are owned by the individual creator.
This means the creator is the only one who can upgrade their smart contracts, withdraw funds and transfer ownership of their work.
This is vastly different than any content platform in existence today.
Looking Forward
In the future, Ownchain creators can build their own social profiles and extend their NFT collections to protocols like Lens Protocol which is a decentralized social media graph where creators own their data and fan interactions.
If you want to contribute to the new age of content creation and digital media platforms you can get started by:
