Kicking off with an initial six launch partners, Creds Creator Studio enables companies to create Verifiable Credentials that build community trust and security, while supercharging their marketing activities.
cheqd introduces Creds Creator Studio together with six launch partners
According to the official statement shared by the cheqd team, an inaugural release of its brand new Creds Creator Studio took place at the 2023 Web Summit in Lisbon. Businesses can get their on-chain credentials in an easy and affordable way using Creds' no-code platform before monetizing those Credentials via cheqd's payments infrastructure.
Organizations can issue Verifiable Credentials with Creds to create a unique reputation and trust system as well as loyalty programs for their communities that are completely secure, portable and private.
For individuals, Creds can act as verifiers of status or serve as their public profile, providing a way for users (individuals and organizations) to verify that they are who they say they are and prove ownership of handles, wallets, roles, skills and reputations within and beyond their communities.
In turn, credentials verified by cheqd can be used in immersive and engaging marketing activities, removing cheating and impersonating opportunities.
The studio kicks off with six inaugural partners, including the likes of Outlier Ventures, Injective, Secret Network, Regen Network, RescuePals and Kleomedes DAO.
Trusted Data Markets to change narrative in identity management
By providing organizations with a simple way to quickly create Credentials, cheqd is fostering the creation of the Trusted Data Markets needed to facilitate widespread adoption of SSI. With Trusted Data Markets, cheqd provides a strong incentive for users to issue verifiable Credentials while motivating organizations to return the control of data to individuals.
Research by cheqd shows that the global value of the SSI market may reach as much as $0.55 trillion by 2026. By offering its industry-first Credential Payments that allow owners of verifiable data to retain full privacy, cheqd sets itself apart from other identity networks.
The next step for Creds is to enter more traditional markets such as gaming, loyalty and entertainment, where the demand for Verifiable Credentials already exists.