What is Sway Social?
Sway Social is an innovative protocol that allows metaverse creators to monetize their social capital through NFTs. It is the first platform of its kind that provides an asset class for social capital in the metaverse. By translating social capital into an asset class, Sway Social empowers creators to monetize their content on their own terms.
In the metaverse, every building block, from game items to social media posts, is an NFT. Behind each NFT creator is a community that establishes the value of the creator's social capital. Traditional social media platforms in the Web 2 era valued creators based on the number of followers or likes they had. However, Sway Social introduces a new model for Web 3, where social capital is translated into an asset class. Instead of following a creator, participants can stake their creator pool, and the value is established based on the pool participation TVL. Stakeholders provide a social underwriting facility for creators through a subDAO.
Sway Social's core component is the creator pools. These pools work similarly to liquidity pools, where value is locked in the form of a stake that will later yield rewards. However, instead of deriving value from the pool's performance, the pools use the performance of the creator's NFTs as the generator of value.
In creator pools, the value of your stake and queue position matter. The first position in the pool gets the most favorable terms and yields better rewards. As new people join the pool, your position moves up the curve, but the staking queue distribution adheres to a mathematical formula.
Based on creator adoption mining, Sway Social plans to release an additional 100,000,000 tokens in the future. Tokens will be mined as new creator pools are established, and the number of participants in a creator pool determines the amount of distribution received.
To establish a pool with an initial stake, you need the SWAY token. Any further stakes can be in SWAY or in a currency pair with SWAY. This provides users with the flexibility to choose their preferred mode of investment.
In summary, Sway Social is an exciting development for metaverse creators. It allows them to monetize their social capital and content on their own terms, creating a new asset class in the metaverse. With its innovative model, Sway Social provides a social underwriting facility that empowers creators and enables them to gain the rewards they deserve. Stay tuned for more updates on Sway Social and its exciting developments.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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