StoryCo co-founders explain how community storytelling can impact franchise IP
StoryCo co-founders explain how community storytelling can impact franchise IP
#StoryCo #cofounders #explain #community #storytelling #impact #franchise Welcome to InNewCL, here is the new story we have for you today:
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On this week’s episode of NFT Steez, co-hosts Alyssa Expósito and Ray Salmond continue their conversation with Justin and JP Alanis, co-founders of StoryCo – an open media platform – about the prospect of a community of creators who own intellectual property (IP ). through collaboration and soulbound tokens.
Speaking of his experiences with musician Tyler the Creator, JP Alanis said that content creation is not limited to any particular creator, but should be open to all types, including fans.
Despite the symbiotic nature between fans and creators, however, there are still obstacles to incentivizing creators and navigating the bureaucratic nature of centralized institutions to fuel those creations. So StoryCo said it intends to mitigate the noise.
StoryCo is a global creative marketplace
When asked if StoryCo was related to pay-to-hire platforms like Fiverr and Upwork, Justin confirmed the comparisons and said that StoryCo may have network-type components similar to these “hire-for-work” platforms. He described it as a “creative marketplace that leverages existing creative talent.”
Justin explained that StoryCo ultimately aims to be an open, permissionless platform where any individual can “get on board,” explore, create, and potentially monetize intellectual property with a story or content they “resonate with.”
“They should be able to add value in different ways,” Justin said. According to the founders, value is created in several ways, e.g. For example, by posting user-generated content, suggesting a story or funding, completing an activation, or even viewing a story.
The best part? It aims to make the entry point to these stories more accessible and seeks to eliminate elements of gatekeeping in these proprietary environments. StoryPass is a free NFT that gives StoryCo insight into the “core” of the community, JP explained
Integrate soulbound tokens into storytelling
Soulbound tokens are “non-transferable, non-fungible tokens” that can be used to authenticate and verify an individual’s identity, actions, or achievements on Web3. StoryCo intends to integrate soulbound tokens to expand accessibility for collaboration and start creating IP.
StoryCo’s soulbound token integration is closely tied to its first community story, The Disco Ball. The StoryPass is a dynamic soulbound token that tracks member participation and consumption of the evolving story.
Also See: Comic-Con Guru Says Storytelling Is Key Component to Successful NFT Projects
After users unlock achievements with their StoryPass, whether by consuming or contributing, their StoryPass will be modified to reflect this. The underlying value of the integration is that StoryCo can learn what better engages its community.
Justin explained that StoryCo aims to become a public good, meaning it is owned by the “community of people who contribute value to the platform.” Fifty percent of The Disco Ball’s net revenue will be allocated to a common treasury, whereby the community will begin making proposals and voting on the development of the platform, similar to the Nouns DAO Proposal House.
“This new technology is a new paradigm,” JP said in reference to digital creation and the participatory revolution. He explained that “just as the Internet was a new paradigm, Web3 is a new paradigm that unlocks the opportunity for people to contribute”.
Be sure to listen to Part 2 of NFT Steez’s conversation with the StoryCo founders on the new Cointelegraph Podcasts page or on Spotify, Apple Podcasts, Google Podcasts or TuneIn.
