How Promify is Revolutionizing the Celebrity to Fan Ecosystem with Crypto
Celebrities, artists and creators are now at the forefront of our society with the explosion of social media. Historically, the only news you would hear about your favorite actor or athlete would be a highly crafted statement released by their PR team and then published by mainstream media. With social media, artists now have a direct line of communication with their fan base. The technological developments in social media have allowed the connections between celebrities and fans to become more and more personal. With the rise of crypto and the blockchain, Promify believes it’s time to take the relationship to the next level.
Turning Fans into Stakeholders with Crypto
Within the confines of the current social landscape, Fans are able to get closer to their favorite artists than ever before. Promify believes that this is only the start, and that the future of these relationships will be defined by artists and their communities being able to experience the same upside together. Upside in a given project… upside in a given career.
Enter Community Coins
The Community Coin is a custom crypto coin, issued by a given artist on the Promify platform, that allows an artist to create an exclusive club where access is granted to those who own the coin.
Community Coins are available for purchase to anyone, anywhere. While owning coin grants access to the club, Blockchain allows the artist to create an incredibly personal and scalable community, based on verified coin ownership.
Artists can grant their coin holders access to exclusive content, 1 on 1 interviews, NFT drops… literally whatever the artist wants. The artist can then segment their supporters by coin ownership levels and reward them accordingly with varying levels of access. This creates a whole new sort of club, where access is granted to fans based on ownership… ownership that can result in real financial upside.
Benefits for Fans
Aside from forming deeper connections with artists and creators through owning coin and gaining access to exclusive offerings, the Promify business model unlocks the concept of “mutual monetization” for the very first time. Traditionally, artists would be the sole beneficiary of a new album by charging their fans $20 for each CD or by collecting streaming revenue. With Promify, fans who own Community Coin directly benefit from a successful album launch by realizing the benefits of an increase in demand for an artists Community Coin. A growing fan base, deeper levels of access and creative partner offerings are all things that will drive demand for a given Community Coin, which drives the price of the coin up. Because artists automatically own 15% of their own coin pool, both the artists and the fans benefit equally from increases in the coin price, without any sort of traditional form monetization taking place. This business model, unlocked by crypto and the blockchain, is the first ever truly organic business model between artists and their fans, where both parties can benefit equally in the successful launch and development of a passionate community.