Problem Statement

The expansion of social networking and content creation fuels a growing digital economy where creators and users drive value. On the other hand, the rise of the Web 3.0 economy has introduced transformative changes across social networking, fostering decentralization, transparency and privacy in digital transactions. The current lack of extensive Web 3.0 adoption restricts network users from experiencing the transparency, autonomy and control that Web 3.0 can provide.

In today’s digital landscape, users - content creators and their audiences - on mainstream social platforms face a range of significant challenges. Platforms like Instagram, TikTok, Snapchat, OnlyFans and other have brought visibility and monetization opportunities to creators, but they are constrained by limitations that affect both creators and users alike. These challenges hinder creative expression, limit earning potential, and raise concerns over privacy, content ownership, access and freedom.

Key problems:

• High Transaction and Service Fees: Content creators face substantial fees hitting their earnings since mainstream platforms often charge a significant percentage of each transaction. This affects creators’ ability to monetize their work on a fair basis while, even though fans pay premium rates, a significant portion of the creators’ value does never reach them.

• Privacy Concerns Due to Centralized Oversight: Centralized control often leads to privacy concerns and potential data leakages for both creators and users of social network platforms.

• Content Restrictions and Censorship: Creators frequently face restrictions, which can limit the type of content they’re allowed to produce and share worldwide.

• High Cross-Border Fees: For creators and users in various regions in the world, traditional payment systems might be restrictive and costly. Cross-border transactions incur high fees and creators in certain regions face limited access to global payment options, making it difficult to participate in the digital creator economy.

• Lack of Ownership and Control Over Content: Current social platforms retain ownership rights over the content shared in their sites. This lack of control over intellectual property and distribution limits creators’ autonomy, creativity and financial potential.

• Lack of a Cryptocurrency Tailored to Creative Digital Content Activities: Despite the rising demand of platforms supporting this genre, there is a notable absence of a cryptocurrency specifically tailored to the unique needs of the creative digital content’s social networks and content activities sector.