TIW3 #1: 5 Ways You Can Use Creator Coins For Your Business

Read Time: 7 Minutes

Welcome to issue 1 of This Is Web3. Building to be the go-to resource for marketers and founders to understand and action the opportunities in web3.

In 2022 an explosion of new tokens hit the market allowing newfound utility for businesses across the internet.

One of the most exciting types of tokens to hit the market where Creator Coins.

There is a massive $63trn of intangible assets on company balance sheets. Creator coins turn these intangibles into tangible assets that are tradeable.

1: Reciprocity...

I am a member of the web3 community group Giraffe Tower, a community for creators who are building in web3.

When I joined the community Gary the founder welcomed me and airdropped me 5 $GARY tokens. These tokens had a value of approx of only $1 in total. This act of rewarding me for being part of the community kicked in the reciprocity instinct. Gary had done me a solid so I wanted to repay the favour, I commented and retweet some of his content.

2: Reward good behaviour

Over lockdown, we got a dog like many others, as it was a rescue dog it had some serious behavioural issues we had to work on.

To help us we got a specialist police dog trainer to come to and speak with us. The main thing he said for us to focus on is positive behaviours. Reward him when he does what you want, and ignore him when he is 'naughty'. this was very tough but it quickly worked

This is exactly what Giraffe Tower did.

They rewarded the behaviours they wanted. When their community shares content, comments or likes they get $GARY tokens.

This in turn helps amplify their content to a wider audience.

3: Easy Automation of Incentives

With blockchain, the need for centralised databases is reduced as all you need are the rules of access.

Rules of access could be:

• Hold at least 1 $GARY token
• Hold 10,000 $GARY token
• Hold a special NFT

Each of these rules would allow the person various levels of access to the business. This access could be general access, special VIP access or short-term course access.

Access is granted by a rule and the key is the tokens they hold. This means no database is needed. No sharing of email lists, no added security needed and no complicated API set-up.

4: A New Way of Marketing

IOS update to tracking, GDPR, regulations data increasing...

All these mean that the effectiveness of paid media is reducing whilst the cost grows.

Blockchain and creator tokens create a new pathway to marketing. In web3 the user's crypto wallet is the key to their digital selves. In it, they could hold data on

• Tokens they own and how many
• NFTs that own pictures, music, articles etc
• Actions they have taken on web3 social such as likes, comments and post

Adam Levy host of the podcast Mint uses blockchain data to understand his audience. At the end of each season, he would allow his users to mint a special NFT. By minting this NFT Adam now knows the user's wallet address. This address allows the investigation of the rest of their activity on-chain using tools such as etherscan.

By viewing the activity on-chain he could see what his audience was buying across web3. From understanding this data he set up his most popular podcast where he interviewed the team behind the popular NFT platform Zora.

5: New Type of Seed Funding

By buying a creator token you are buying into the future value of that creator's brand, the intangible assets of the brand.

This could unlock new ways of funding early-stage businesses. Stay365 a web3-based travel company that is taking on Airbnb used this model to fund the early stages of the business.

Launching a token to their community and asking those who believed in the brand to invest from 0.1 Eth (about $200 at the time).

The token had utility with the company, it could be used in different ways on their platform from booking hotels to activities to early access to their NFT project.

The hope for the investment is that as the brand value and the popularity of Stay365 increase so too would the value of the token.

Against typical early-stage investments such as Crowdcube, a token can be liquid immediately.

When I bought $STAYS I was able within days to cash out my investment into traditional £ or $. With platforms such as CrowdCube investments are tied up until IPO or at set monthly intervals

Are you exploring the idea of entering into the Web3 space? Have you planned on launching an NFT or creator coin community?

________________________________________________________________IIf you wanted to carry on your journey into web3 here are 3 ways we can work together

1. DM me to be added to the waitlist for the TIW3 site launch
2. Bespoke workshop for your senior management team or marketing to understand the opportunities
3. Consultancy for your businesses NFT or Token launch