BlockTalks x Clout.Art AMA Transcript!
We recently hosted an AMA with Clout.Art, on October 6th at 3 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Jure Z, CEO at Clout.Art So here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.
Introduction Questions Asked By Team BlockTalks!
Q1. Could you please introduce Clout.Art to our community in layman’s term?
Ans —Well, on the surface, what Clout.art does, is simple: It takes existing, legacy content and turns it into a liquid asset by turning it into an NFT
So we’re not a social NFT platform, we work as a monetisation layer on top of existing social media (Instagram, TikTok)
Our proprietary tech is undestanding how value can be translated from Web 2 (social media in general) to Web 3 (NFTs)
But at the same time, we’re the creators of a very powerful protocol Sway Social (https://swaysocial.org) that is yet to be released.
Q2. What are the advantages of Clout.Art to the other alternatives in the Blockchain field?
Ans — Like mentioned above, we are not a social media or social network NFT platform. While we really love some of the projects in this space, it’s probably one of the hardest things to build a social network or a completely new platform.
People who have been building their communities for the last ten years are probably not going to abandon them and join a novel crypto app just because it has NFTs.
Our goal is to work with existing platforms, to sit on top of Instagram, TikTok, Youtube… Work your communities, serve the content and then monetise it. It doesn’t get easier than that.
We’re the monetisation layer that sits on top.
Q3. What are the major milestones Clout.Art achieved so far & what are in the future pipeline?
Ans — So we have successfully conculded an Airdrop campaign in July, followed by a public beta launch in August. In september we’ve onboarded 8k+ users that already minted over 1,000 NFTs
We are also very proud to be the record-breaking project on Launchpool, for a $250k allocation, more than $8.3m were staked
But the future is even more exciting, new integrations — TikTok, Twitter and Youtube, a mobile app and a new even simpler version for easier onramp for non-crypto users.
Questions Asked on Twitter For Clout.Art Team!
Q1. Social media, as we know it, could cease to exist by the end of this decade. With the ability of blockchain to provide the layer of trust and settlement, the middleman becomes redundant in multiple use cases. How is Clout.Art modified and reinvented for this?
Ans — A great question actually. You could say what we’re doing is actually bridging this transition from Web2 to Web3. Social media won’t exist, but will be reinvented because the content layer is now enabled thanks to NFTs. I see great future at this intersection.
Q2. At Clout.Art, any content can feed a new social network backed by an economy that puts creators first. So why do users have to delete their original Instagram post to create an NFT from it in Clout Art?
Ans — The idea behind deleting the content comes from how we can transfer value to the max from web2.0 to web3.0. And the way to append value to the new NFT is to delete the original.
Q3. In Clout Art creators can create their own NFT’s. But is this process difficult for inexperienced people? Can you briefly explain to me what are the steps to mint my own NFT?
Ans — Not at all! That was one of the goals we had when creating the platform. We wanted to make this super easy. The next step, obviously is to make it so easy, the non-crypto people will understand it, too. An average user doesn’t know what Metamask is and has an attention span of 3s. That’s what we’re working with
Q4. How will the SWAY reward rate that SWAY token holders earn when they stake SWAY in their creator pools will be calculated? Will punters be rewarded each time the creator sells NFT?
Ans — Yes, the idea is that every time an NFT is sold by a particular creator, the stakers get rewarded. But it matters a lot what the position of the staker in the pool is. If you’re in the pool first, you get a better rate of rewards. So there’s no exact math, everything is calculated dynamically and adjusted to global staking ratio.
Q5. Clout.Art is a platform with an integrated Web3 layer that will initially be available for Polygon (MATIC). In the future, do you consider Clout.Art to be blockchain independent to include the ability to coin or bridge NFT via Ethereum, BSC or similar?
Ans — That is correct. We want to exist across different ecosystems, but at the top cater to the user — that’s the most important. NFTs are just a vehicle to transmit content, like tokens are to transmit value. The end user doesn’t care about that. Just like you don’t care if you got an email through POP3 or IMAP
Questions Asked by our BlockTalks Community Members during live Session to Clout.Art Team!!
Q1. I think the purpose of Clout.Art is only for celebrities, the reason is that no one is going to buy ordinary people’s NFTs. Does the Clout.Art platform have an idea or work that would make us think otherwise?
Ans — Good one! The reality is that if you don’t have a following, you probably won’t be able to sell. But if you already sell t-shirts, coffe mugs and baseball hats with your brand… you’re very likely to sell your NFTs as well. So it’s an added monetization channel.
Q2. Why did you choose Clout.Art as the name of the project, what motivates you to name this project?
Ans — That’s pretty obvious. We believe in clout as the key behind successful posts. Likes, comments, shares, etc. Now we help you turn all that Clout into art. And art means you can make some money with it.
Q3. Clout art through the SWAY social protocol are establishing a ‘Shareconomy’ model where the fans also get rewarded when supporting their creator. Can you explain the ‘Shareconomy’ model through the SWAY social protocol and how it works in your ecosystem?
Ans — In a traditional Web 2 social media platforms, the number of ‘Followers’ per content creator is directly correlated to their earnings power and creates a feedback loop compounding the value.
This clear economic benefit, or asset pool, is not recognised in tangible form. More and more, social media users and communities are conscious of this misalignment and consequently growth will be constrained.
Sway deals with this disparity by allowing followers to share directly in revenue generation by content creators in addition to enjoying the non-tangible benefits of providing social support. This is how we could explain Shareconomy.
Q4. Can anyone convert their Instagram posts to NFT whenever they want, or are there any rules or requirements for this?
Ans — Anyone can do it! And for FREE! The only requirements are that you have a mature IG account, at least 150 followers and a Clout.art score of at least 10.
Q5. I want to invest to your project. Where i buy your token? Is it available on any exchange?
Ans — Our token will be available starting tomorrow, on QuickSwap and later on Gate.io — stay tuned and follow our channels for more!
🚨🚨 Official Token Sale Timeline 🚨🚨
📅 WED, Oct 6th
🕙 09:00 UTC Startup sale launch Gate.io
🕑 12:00 UTC Mantra DAO Zendit💥 Flash Sale 💥
📅 THU, Oct 7th
🕜 11:30 UTC Xportal Claiming
🕜 11:30 UTC Trading Live — QuickSwap
🕑 12:00 UTC Trading Live — Gate.io
