NFT Steez continues to discuss how blockchain enables growing co-creation and franchising intellectual property with the StoryCo co-founders.
The co-founders of StoryCo, an open media platform, Justin and J.P. Alanis, continue to talk with co-hosts Alyssa Expósito and Ray Salmond about the possibility
of a community of creators franchising intellectual property (IP) through cooperation and soulbound tokens on this week’s episode of NFT Steez.
Regarding his interactions with the singer Tyler the Creator, J.P. Alanis stated that content creation should be available to all sorts of creators, including fans.
Despite the mutually beneficial relationship between fans and artists, there are still difficulties in rewarding the creators and managing the bureaucracy of centralized organizations to promote these works. Here is how StoryCo claims it will lessen the noise.
Justin confirmed the resemblance when asked if StoryCo is comparable to pay-to-hire websites like Fiverr and Upwork, stating that StoryCo may include network-type components that are comparable to these “hire-for-work” websites. As a “creative marketplace that utilizes current creative ability,” he defined it.
According to Justin, the ultimate goal of StoryCo is to be a permission-free, open platform where anybody can “jump on in,” explore, create, and maybe franchise IP if a narrative or piece of content resonates with them.
You ought to be able to add value in various ways, Justin remarked. The creators claim that value may be produced in a variety of ways, including through the submission of user-generated material, narrative or funding ideas, finishing an activation, or merely watching a tale.
What’s best? By trying to do rid of some of the gatekeeping in these private contexts, it seeks to make the entrance point to these tales more open. According to J.P., the StoryPass is a free NFT that offers StoryCo information about the “nucleus” of the neighborhood.
In Web3, “non-transferable nonfungible tokens” known as soulbound tokens can be used to authenticate and validate someone’s actions, identity, or accomplishments. StoryCo wants to include soulbound tokens to make it easier for people to work together and start developing original content.
The Disco Ball, StoryCo’s first community narrative, is directly related to the integration of soulbound tokens. The StoryPass keeps track of members’ involvement in and consumption of the developing narrative through a soulbound dynamic token.
Users’ StoryPasses are changed to reflect achievements they acquire with their StoryPass, whether through consumption or contribution. The integration’s core benefit is that it enables StoryCo to better understand what motivates its community.
As a public good, StoryCo would be held by the “community of individuals giving value to the site,” according to Justin. The community will start to propose and vote on the platform’s progress through a shared treasury, similar to the Nouns DAO Proposal House, with 50% of The Disco Ball’s net revenues going there.
J.P. referred to the participatory revolution and digital creativity as a new technology and a new paradigm. In the same way that the internet was a new paradigm, he went on to say that Web3 is a new paradigm that enables everyone to participate.