In the world of the digital age, almost every single thing right now has its own digital counterpart. Even traditional media houses now rely more on their digital content – text and video, for sharing information across the globe in a matter of few clicks.
However, a lot of content creators feel that monetizing their content is an uphill task and keep on scouting for opportunities to monetize their content. Corra understands this problem and has a solution for it.
Overview
Corra is a plug-and-play platform allowing content creators to monetize their digital content through NFT technology. It works the same way as a social media platform but with a slight difference. When creators post their content on Corra, they will have the option of auctioning it in the form of an NFT. In case viewers find it interesting they can purchase the NFT.
Use Case: NFT in Social Media
Social media platforms like Instagram, Tik Tok, and Facebook have the options to monetize digital content but unfortunately only the big and known publishers walk away smiling and the majority of the creators are left high and dry. Here, Corra wants to help such creators by providing them with a platform where they can auction their digital content through NFTs.
Use Case: NFT in Non-Profit
Corra is planning to work with non-profit organizations to have a blockchain solution for supporting their operations. Traditionally, non-profit organizations attract funding from supporters by purchasing merchandise or online donations. Through Corra, they can create a pool of donations by creating NFT products and sharing them with their supporters. It can be in the form of crypto and the wallet can be shared publicly so that people know where the funding is getting transferred. These organizations can propose to the community whenever they allocate a certain part of the donation into a new initiative, while the transaction is recorded on the blockchain. It’ll increase the transparency which will allow new supporters as well non-profit royalties on future sales from the NFTs.
Use Case: NFT in Digital Content
Corra aims to break the stereotype of valuing creative content by giant tech firms. Instead of that, they’ll create an NFT marketplace where anyone can freely create their NFT without any gas fees. This’ll create an entirely new market for public figures and celebrities to monetize their digital content by converting their messages, posts and videos into NFTs. These will be adjusted in real money and not likes or comments.
CORRA Token (CORA)
CORRA Token will be used for farming in all future DeFi products in popular chains like Ethereum and Binance Chain, which the platform will support in the future. A token swap option will be provided to the token holders for swapping 1 CORA(ETH) to 1 CORA(EOS) at a small fee.
This platform token has similar features like FTT to propel growth in the ecosystem. It will be available with various incentive models for all NFT products.
Rewards will be pushed occasionally to token holders via airdrop to ETH, EOS, BNB in order to stimulate growth and interaction.
The platform will have an option to go anonymous or verified to build reputation as a seller as well as multiple wallet support.
Tokenomics
The total token supply will be 10,000,000 CORA. The platform is planning to distribute the CORRA token in the following way:
Roadmap
The company’s IDO launched is planned before April. First round offering is expected to happen in the next quarter. Future plans for the platform are given below:
- Q3 2021 – Round 2 offering, Global marketing, and establishment of partnerships with other DeFi products.
- Q4 2021 – Corra.finance NFT platform launch and DeFi use case ready and real-world NFT trading and auction.
- Q1 2022 – Global presence expansion and NFT listing drive along with the expansion of DeFi products across key blockchains.
- Q2 2022 – Expansion of CORA token across key platforms.
- Q3 2022 – Net profit from NFT commission and expansion to other markets in Asia.
Final Thoughts
The concept of monetizing creative content in the hands of the user is a potential breakthrough and if done right, could change the scenario of the digital content we view today and the social media we regularly use every day. CORRA not only aims to make a big stride in the way we interact with social media and digital content but will offer creators a better way to monetize their creative content. A project to keep an eye on for sure.