Application of NFT in content creation
Non-Fungible Token (NFT) is a unique unit of data stored on a public ledger (blockchain) that can be easily reproducible. NFTs include items such as; photos, videos, audio and digital files as unique items. Fungibility, which is the lack of interchangeability, is a distinguishing aspect of NFTs.
NFT is still at an infant stage and thus, there is limited research on it but most are focused on technical aspects such as blockchain-based protocols, copyright regulations, and components protocols.
NFT in content creation offers more autonomy especially in terms of earnings and content rights, therefore, enabling content creators to maximize their earning potentials. They can also earn more if a buyer resells their work.
NFTs obviously provide more value to digital creations, earning them a series of lucrative opportunities from the diverse methods of earning from their contents.
While these precedents come with enticing appeal making NFTs look more attractive, they often come with risks and underlying issues which every creator should be mindful of. For instance, there are legal and intellectual property regulations and rights that need to be considered respectively.
To curtail this bottleneck that seeks to interfere with the smooth process of NFTs, the FLICK token is poised at becoming the foremost, most suitable and most impactful NFT token for content creators.
Flickto is poised at changing these narratives by utilizing the unique potential of the Cardano ecosystem by engaging the community in sponsoring and funding new media projects using a combination of Tokenization (using FLICK token) and Cardano staking.
Flickto is the pioneer crypto project that has enabled media projects of content creators to be funded.
Learning, earning and creating via FLICK
FLICK token seeks to fund content creators to produce new films, TV and internet streaming shows that currently have issues with accessing funds. This is done by providing utility through the FLICK token to the FLICK platform which enables users to vote on the projects that interests them the most. If successful, the token holders will be eligible to receive a portion of the token distribution of the media project.
The FLICK platform is all about rewards for content and thus, FLICK token holders will be able to stake their FLICK to earn more FLICK by voting on projects as well as receive a portion of the distribution rewards of funded projects.
Owing to the decentralization system that characterizes the Cryptocurrency marketplace, FLICK holders are the determinants of what projects get funding and not the project team.
Weary about security and trust in blockchain projects? Flickto is backed by a registered company in England (Flickto Ltd). This ensures accountability and trust between content creators, investors and the Flickto team in its entirety.
The main partners are Ben Morris and Geraint Harvard Jones. Both partners have worked in the media industry for decades as both Directors and Producers.
Cardano blockchain powers Flickto by providing financial gains to FLICK token holders through NFT airdrops and Initial Stake Pool Offering which will be live soon.
Interested persons can stake pool and delegate to the link below;
A driving force behind this project is that there are millions of artistic content creators out there anticipating to produce the next hit YouTube show alongside a whole host of other distribution outlets, but financing these creators to get their work showcased seems to be a major bottleneck.
User Rewards
The different categories of user rewards in Flickto includes;
- Participation Rewards: This includes rewards through Voting and Staking.
- Project Rewards: FLICK rewards a project through wins in a voting round.
- User rewards: A concept to this reward distribution is earning FLICK and ADA on V 1.0
- Distribution royalties: Users will receive distribution royalties provided the supported project receives 65% ADA rewards while the 20% remaining is distributed to all users that voted in that round and a 15% reward distributed as royalty rates.
ISPOs are practically proven to be the choicest means of raising funds for new Cardano projects and owing to that, Flickto is committed to utilizing Initial Stake Pool Offering (ISPO) to raise funds for the media projects in a sustainable manner.
To achieve this, additional pools will be established if community demand is high and this includes; 25 or 50% pools.
The ISPO model is sustainable and has proved to be a great model for financing blockchain projects and users can get involved by delegating. Users can earn rewards for just participating in project voting.
Users who vote successfully for the funded projects will be entitled to a share of the distribution royalties.
This is unique in the Cardano ecosystem as there are few projects with different launchpads.
Interestingly, this project has achieved significant weekly growth since launching on the 1st of November, 2021 with nearly 200 delegators to the pool and over a million ADA in active stake.
Flickto has already done two (2) NFT airdrops to eligible community members. Please see details of the airdrop below;
It is important to note that the private sale round closes this week and you can purchase FLICK tokens now at their lowest price prior to the end of private sales.
Please note also that FLICK will also be listed on DEX/CEXs and tradable on the open market thus, spreading the tentacles for distributing fundraising platforms.
Since its inception, Flickto has attained giant strides and made landmark achievements from the ISPO which has amassed over 1,500,000 ADA staked to it with a weekly community growth which has confirmed the thorough job the team is doing behind the scene to keep the project afloat. Their whitepaper is available here.
