Clout.art is a Web 3.0 based social media protocol and non-fungible token marketplace (NFT) where artists, creators and their followers can interact with each other and create unique tokens for their posts.
The problem with many content creators on social media platforms is the lack of control over who gets the actual revenue from content ads. This is exactly what Clout.art seeks to address.
Clout.art allows content creators to set a value for their posts and place them on the market. This allows them to earn directly from your content, without the need for any intermediaries to facilitate the entire process.
In this article, we will discuss:
What is Clout.Art?
Clout.art is a Web 3.0-based social media protocol and NFT marketplace where artists, creators, and their followers can interact with each other and create unique tokens for their posts. The platform's goal is to capture the influence value of a social media post by creating an equivalent equivalent for it on the blockchain.
This model aims to bring power back to content creators and influencers through direct advertising revenue. This will happen through the creation of NFTs for social media posts, allowing content creators to monetize their content themselves, without compromising
The project is also working on market verticals, such as extreme and conventional sports, moments of influence and popular culture. There are also ongoing partnerships to expand the protocol to different platforms. All of this will allow anyone to absolutely own and immortalize any content posted online that fits into these verticals.
Cloud.art Dapp
Clout.art's interface is an integrated Web3 platform, currently only available for the Polygon blockchain (MATIC).
However, according to the team, there might be plans in the future to make it interoperable with other networks such as Ethereum (ETH) and Binance Smart Chain (BSC) via cross-chain bridges.
This also houses Creator Staking Pools (DCSP), ensuring platform liquidity. The initial release of the decentralized app layers (Dapp) will sit on top of Instagram for monetization and market support, which will be completely decoupled from the entire Instagram backend, however, to ensure it works independently.
There are several functions available through dapp, such as buying and selling NFTs, minting NFTs, request and invitation features, staking, and referral mechanisms.
Recording NFTs
As of now, only Instagram posts are supported for monetization. Anyone can coin an NFT that represents their original content on the social media platform. Users just need a Web3-compatible wallet to start minting tokens like Metamask.
To mint a token, the user just needs to link the post in the dapp via its original URL. Once the post is added to the dapp database of Clout.art, it will record all relevant datasets, such as the author and the number of appointments. Then the author can start listing it on the platform with their own price input.
To complete the entire minting process, the actual Instagram post must be permanently deleted first. Next, the art listener needs to confirm that the post was actually deleted within two minutes.
The minimum number of followers needed for those who wish to mint a post is 150. So they can already use dapp's tools to eventually list their post in the marketplace.
Lazy Minting
NFTs can be created without incurring any gas fees through a function called “lazy coining”. Its difference with the original coining process is that there must first be an NFT receiver before it can be coined.
This is because lazy coining NFTs are not created instantly. What the author needs to do first is describe the NFT they want to create and sign it. The designated NFT recipient will then file a claim on the NFT and also pay the corresponding gas fees.
Much like the original coinage, the author must also delete the actual post on social media platforms before the actual creation of an NFT takes place. Then the NFT is transferred to the receiver and the fund is released to the author.
Clout.art score
NFTs listed on the platform are rated by a system called Clout.art scoring. It's governed by an algorithm that determines the value of a post based on metrics such as post age, likes, engagement, and others.
The scores provided by the platform will always remain the same and cannot be changed. The range is from the lowest of 1 to the highest of 1000. There is still no more details on how the algorithm exactly balances all the metrics, but they will be available soon, once the product is finally released.
SWAY token
The SWAY token is the platform's native utility token, which can be used for payments, voting and stakeout. It also serves as a support token for the platform's reward system.
To mint a token, they will have to use the NFT minting tool, which requires SWAY tokens from authors depending on their number of followers and the validation status of their profile.
Stakeout is also possible using SWAY tokens. By depositing SWAY into the pool, they also get more tokens as a reward. Staking is also considered a support for the platform's creators and curators.
Governance functions are provided only to SWAY token holders. This allows them to vote on specific parameters such as betting rewards and protocol fees. This mechanism ensures that any change to the configuration of the entire protocol is consensual with the community.
Conclusion
Making money from your content on social media can be difficult and complicated. This is mainly because you don't have direct control over who actually gets all the revenue a creator deserves, which is why projects like Clout.art are a welcome opportunity for them, as is the blockchain space.
With the help of NFTs, content creators can now finally claim absolute ownership of any content online. At the moment, the project is only supporting Instagram. Its growth and expansion across different social media platforms as well as blockchain networks are things we can look forward to.
