An NFT membership platform to support your favourite creators.
Many creators find it hard to monetize their content on centralized platforms like Youtube. So instead, they've created exclusive online community sites to both monetize and engage their fans. Famous examples include Send Club by the Nelk Boys and Maverick Club by Logan Paul. To build their platforms, these big creators hired many engineers and spent a lot of capital - which is out of reach for smaller content creators. Klava helps any creator have their own membership community platform without any cost or headache. Creators set up their community platform on Klava where fans can become members through purchasing an NFT. The NFT acts as a membership key for fans to access gated content and exclusive opportunities from their favourite creators - think of it like a Web 3 Patreon. As long as the fan holds their membership NFT, they will start to earn social tokens from the creator. The demand and supply of the token is derived from the value that the content creator provides. The better the content, the more valuable the social token. Fans receive the creator's social token based on the quality of the interactions, rather than micro-interactions. By saving up social tokens, superfans can then "burn" these tokens for exclusive offline/online rewards - whether it's merch, shoutouts, exclusive opportunities etc. But if the fan decides to cancel their membership and burn their NFT, they get 100% of their money back! This incentivizes the creator to keep fans in their community. So how does the creator earn money? Well the NFT held by the fan is not a normal NFT - it can actually hold ERC-20 tokens in itself. The ERC-20 tokens in the NFT earn yield + compounds to the benefit of both the fan and the creator. Canceling their membership and burning their NFT, will refund the fan their initial purchase, but the remaining compounded interest is sent to the creator. 100% of the interest generated goes to the creator. These dual incentives of having creator social coins and allowed users to be refunded their membership purchase fee helps incentivize both parties to help one another. It incentivizes the creator to maintain a high quality community and incentivizes the fan to engage with the community. Klava will help create the communities of tomorrow.
How it's made
This project uses Charged Particles and IPFS to help creators mint interest-bearing NFT tokens. Charged Particles allow users to deposit ERC-20, ERC-721, or ERC-1155 tokens (ANY tokens) into an NFT. The NFTs created via Charged Particles are still standard non-custodial NFTs that can be sold on popular marketplaces like Opensea, but you’re enabling them to easily hold other ERC-20 tokens and have a programmable interest. Once superfans purchase the "charged" NFT, it acts as a 'key' to access the creator's private community with the help of Unlock Protocol. Unlock Protocol benefited our project by allowing us to white-label the content locking and unlocking experience with a great ui/ux for our end users. We particularly enjoyed how everything about Unlock was open-sourced. A main feature in a creator's community is exclusive virtual conferences and streams. The content/video streaming model is built using Livepeer - it abstracted away the pain of setting up a node ourselves, and had great documentation. We're all very impressed with what we built - mostly because we shipped all of the features we wanted for both creators and superfans (particularly with the Klava NFT and content unlocking experience)🚀.Technologies used