It has never been easier to create — and this is reflected in 50 million creators trying to earn a living from their work — but the majority are struggling as only 2% of creators are earning income above minimum wages.
What all creators have are their own superfans that create content. Yes, that’s right – The flip side of being a creator is what makes a creator in the first place: Their fans.
Today, fan content already outnumbers original content. There are 75 million fans creating derivative works and fan art, creating a whopping 7.5 billion fan content consisting of images, videos, live streams, and comments.
However, most generated content is trapped in dead ends. This content is ‘forgotten’, remains unmonetized, and is not used as a distribution driver. That is a massive missed opportunity. This is true for video, where even though video accounts for over 85% of internet traffic, video is still constrained to linear passive broadcasts and distribution models that lock out many creators and their fans.
The Sagaverse project’s founders spoke to content creators and communities to identify the best solutions to solve these problems. What’s needed now, is the ability to unleash new forms of video experiences, while fairly compensating for fandom, community, and participation.
Let us show you how Sagaverse empowers ownership, attribution, and lifetime passive income.
Key Points of Sagaverse
Sagaverse, an engine and protocol for web3 social media, makes it easy for creators and fans to come together to co-create, co-monetize and co-distribute.
Sagaverse is developing a cross-platform app that acts as a user-facing front-end for a rich media player and integrates a new approach to co-creation powered by derivative content monetization and various social features.
Bringing creators and fans together, Sagaverse makes it possible for creators to activate fans and their content, bringing them limitless benefits.
For creators, there’s nothing more powerful than a fan and what fans crave most is meaningful interaction and connection. Just imagine the greater network effects that could be realized if creators and fans were given the power to buy in.
Blockchain
Central to Sagaverse is its blockchain-powered manifest ensures attribution and licensing information is carried along and terms are always honored. The protocol consists of two main components:
- Rich Media Manifest for composing, distributing, and recomposing tokenized assets while retaining attribution, licensing information, and no duplication of assets
- Media Engine merging creation and consumption of interactive visual assets (2D, 3D, Programmable, Audio)
Possibilities for Creators and Fans
Content on Sagaverse is called a Saga. Sagas are all about collaborative play and creation.
At the heart of Sagaverse is a rich media player designed for next-generation visual media including interactive and augmented video. We know that this is the next content format people will love and want in their lives.
Combining this media player and manifest brings co-creation and attribution together, encouraging new rich media experiences through:
- Interactivity
A 3D artist can create a 3D character and allow 3D animators to animate it, add video filters, AR games, custom emoji packs, etc. Every time the character is used by other artists or fans, the 3D artist who created the initial character receives rewards or royalties. Besides, creators can mint video NFTs and make them remixable by others, receiving royalties when consumed.
- Collaboration
Creators and artists can unite and create ads, and then when advertisers use those ads, the co-creators receive royalties for their work
- Rich Media
Besides, creators can cooperate with their fans; thus, they can make co-own augmented video NFTs, which Sagaverse calls Rich Media.
A second, a like, a comment, a remix, a collaboration – everything counts and generates value.
What Kind Of Content is Sagaverse Meant for?
Current business models on Web2 platforms are unsuitable for the new expectations of creators, prosumers, and fans.
Artists who focused on interactivity did not have a place in Web2, but now the world is asking for their content. Sagaverse developers created the platform for artists who create content that demands interactivity, such as video with fast-moving content (like sports), 3D artists, motion graphics artists, shader programmers, and developers that produce programmable content. And an open rich media format to describe the content like comments, likes, reaction videos, remixes, and related other content.
Tokenomics
Owning the Sagaverse token means owning the future of creation. The token is used in all platform transactions and is backed by partial DAO ownership of a growing content library. Token demand comes from staking and platform transactions.
Monetizing is easy. Mint, own, and get paid all from the Sagaverse mobile app. Creators always keep 95% of the revenue they generate. Every time anyone engages with a Saga, owners are rewarded through a Play to Earn model that continuously pays out over the lifespan of the content. Sagaverse’s blockchain protocol ensures attribution and licensing information is carried along and terms are always honored.
Sagaverse allows anyone to support creators through content staking. Anyone can invest tokens earned or by purchasing additional Saga tokens. The more derivative works, engagement, and transactions a Saga has, the more tokens are distributed to its owners and stakers. This incentivizes and rewards creators and fans to build up the Sagaverse network through co-ownership, co-monetization, and co-distribution.
The Sagaverse DAO retains a 5% fee from all transactions for maintaining and growing the platform, and some part is allocated among creators depending on how their content is consumed.
Roadmap
The first product launch of Sagaverse dApp is scheduled for a Q4 2022 release, targeting short-form video Creators, eSports players, 3D artists, 3D animators, developers, and fans of Sagaverse’s future is an open protocol for tokenized rich media.
In late 2023 Sagaverse will open its protocol, allowing publishers to build creation and consumption experiences and enabling publishers to build and launch collaborative web3 media dApps.
Wrapping up
While Web2 is not enough for content creators to make a living, Web3 opens an extensive list of opportunities for both creators and fans, allowing both to cooperate, co-create and monetize.
The Sagaverse platform brings together short-form video Creators, eSports players, 3D artists, 3D animators, developers, and fans who create interactive videos and want to monetize their work.
Blockchain technology allows distributing and recomposing of tokenized assets while retaining attribution and licensing information.
Mobilizing communities to create, remix and monetize interactive and AR video
- Bringing your digital assets to new audiences
- Enabling new revenue from your digital assets
- Creating with idols. Activate your community of fans to create, remix and monetize
All this incentivizes and rewards creators and fans to build up the Sagaverse network through co-ownership, co-monetization, and co-distribution.
Their Mission is bold: Empower 1 billion creators and fans to co-create, generate income and thrive through creation and play with interactive visual content.