CoinMarketCap takes a deep dive into a project that promises to help support content creators and grow their scope of monetization.
Becoming a YouTuber can be a lucrative enterprise, but the platform’s algorithm is a fickle beast that only a handful of content creators manage to truly master.
Nonetheless, while some content creators are pulling in incredible viewer and engagement numbers, few are truly maximizing the monetization potential of their platform. This is what Xcad Network looks to resolve with its range of blockchain-powered tokenization, trading and DeFi tools.
What Is Xcad Network (XCAD)?
Xcad Network is a new platform that looks to provide content creators with additional content monetization options while helping smaller creators benefit from YouTube’s algorithms to grow their channels.
The platform features a wide array of products and solutions that help creators forge a closer connection with their audience, empower their fans and build additional revenue streams. Alongside this, Xcad Network features an educational platform that provides a range of guides and classes crafted by established YouTubers — helping aspiring creators stand the best chance of success.
The XCAD token will initially launch on Ethereum as an ERC-20 asset, and will migrate to Zilliqa shortly thereafter as a ZRC2 token. The token plays a pivotal role in the Xcad Network ecosystem, as it is the base currency for the Xcademy platform, Xcad DEX and governance token of the platform. Users will be able to stake their XCAD tokens in combination with unique Content Creator Tokens thanks to a built-in XCAD yield farm.
TGE will take place on May 27, 2021, after which the token will be made available on KuCoin, Gate.io, PancakeSwap and several other platforms.
Oliver Bell, Joel Morris and Jeff Ward currently comprise XCAD Network's executive team. Together, they bring a wealth of entrepreneurial and online entertainment experience to the table, and are backed by an extensive network of successful YouTube creators.
How Does Xcad Network Work?
Through Xcad Network, creators are able to launch their own Content Creator Token, which can be rewarded to fans who engage with them through the Xcad Network ecosystem.
They will also be able to mint non-fungible tokens (NFTs) that can represent practically anything — such as iconic moments of their career, particular videos, merch redemption rights, shoutouts and more giving them an additional way to monetize their audience and reward their followers.
From the fan side, users will be able to earn fan tokens from their favorite creators simply by watching at least 80% of their video, or by otherwise engaging with the channel — such as by leaving high-quality comments or sharing the video.
They can then trade these Creator Tokens for XCAD on the Xcad decentralized exchange (DEX) — which can then be used to interact with various DeFi tools or traded for other Content Creator tokens/NFTs.
Although the XCAD tokens, Content Creator reward tokens and NFTs are powered by blockchain technology, Xcad Network keeps this in the background, ensuring many of the platform’s users might not even know that they are interacting with cryptocurrency. This is designed to minimize barriers to entry, while still giving more advanced users provisions to leverage their tokens in external DeFi platforms if desired through a user-toggle advanced mode.
The platform is an early-stage project that launched in May 2021 following a SEED Strong Holder Offering (SHO) on the DAO Maker platform and Startup launch on Gate. Nonetheless, the project has an ambitious roadmap and plans to launch the browser extension, tokenization solution, Xcad DEX and both ZRC1/ERC-721 NFTs by Q2 2021.
XCAD tokens will be available in both ZRC2 and ERC-20 formats and users will be able to easily swap between the two networks using a custom token bridge.
What Makes Xcad Network Unique?
The Xcad Network comprises a range of solutions designed to help creators easily monetize their content and audience, and users better engage with their favorite YouTubers. It balances both of these focuses through cleverly designed incentive solutions that ensure all participants benefit from the growth of the network.
Some of these solutions include:
Powered By Zilliqa
Xcad Network is built on Zilliqa — a high-performance blockchain platform capable of processing thousands of transactions per second, at practically zero cost. The platform is backed by Zilliqa's practical byzantine fault tolerance (PBFT) consensus protocol, ensuring XCAD users can transact securely without worrying about attacks.
Content Creator Tokens
Xcad Network provides creators with an easy-to-use tokenization solution that allows them to easily launch their own unique Creator Tokens.
Creator Tokens can be designed with specific functionality depending on the audience, but could be used for buying creator NFTs, merchandise and event tickets. Creators might also look to bake in governance functionality, allowing their fans to vote on upcoming content and key creator decisions.
XCAD DEX
Users will be able to trade their Content Creator and XCAD tokens through a Zilliqa-based decentralized exchange platform that will eventually be built right into the XCAD plugin and mobile app.
Creator NFT Marketplace
Through Xcad Network’s Creator NFT Marketplace, individual content creators will be able to mint their own NFTs, which followers will then be able to easily buy using XCAD or content creator tokens. Once owned, these fans can then trade their NFTs with other users or redeem them for associated content, merchandise or other connection-based services.
These NFTs will come in various forms, but the initial type will be known as “moment”’ NFTs — which are tokenized versions of some of the YouTuber’s most iconic moments.
E-Learning Platform
Budding content creators will be able to fast-track their YouTube journey by joining the Xcademy e-learning platform, which gives users access to a range of educational materials and tools they can use to grow their audience.
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