LiveOne, a first-ever creator-centric content distribution and promotion platform, is going to inroduce its "membership token" as a novel mechanism of monetization and user motivation.
LiveOne partners with Polygon and Cere Network
According to the press release shared with U.Today, LiveOne, a mainstream content distribution platform for music and videos, is ready to explode onto the Web3 segment.
We're proud to announce that @cerenetwork and @0xPolygon are collaborating with @liveone (Nasdaq: $LVO) to develop LiveOne's membership token! $LVO is used on the @cerenetwork-powered NFT platform by LiveOne's 2 million paid and free users!— Cere Network (@cerenetwork) February 24, 2022
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The Nasdaq-listed platform is going to launch a series of tokens and NFTs on Polygon Network (MATIC), an EVM-compatible high performance blockchain.
LiveOne's membership token will be leveraged in multiple mechanisms; it is designed to reward LiveOne clients for different forms of participation, including spending time on LiveOne's platform, listening to music and podcasts, attending events, virtual and in-person meet-and-greets and purchasing LiveOne's merchandise.
Robert Ellin, Chairman and CEO of LiveOne, stressed that decentralization can significantly advance content monetization for creators, viewers and art commissioners:
The digital marketplace is changing how artists and creators are monetizing content and connecting with their audience. As we shift to Web 3.0, we want to put the power directly in the hands of the creators and users. LiveOne has always promoted talent and fans first, and with blockchain technologies opening new doors for interaction, we are excited to offer artists and our members exclusive and deeper experiences.
Personalized NFTs are set to change the narrative in art monetization
The new token will be available to a 2+ million userbase of LiveOne as it will be offered to both owners of premium and free accounts.
Besides a membership token, LiveOne will enable NFT minting for all content creators and distributors. So-called "personalized NFTs" will act as a new form of IP rights ownership.
NFTs will be minted through DaVinci, a joint product of Polygon Network and Cere. Sandeep Nailwal, co-founder of Polygon, stressed that the new collaboration is a revolutionary one in terms of both technology progress and marketing for LiveOne:
By leveraging DaVinci, LiveOne has the potential to transform the creator economy, offering a more egalitarian route for artists to securely monetize their content while encouraging direct-to-fan interaction. Supported by Polygon, LiveOne creators will be able to mint, transfer, and sell their creations in a low-cost, efficient, and ecologically sound manner.