Elastos Drops Bombshell With Elacity, a Web3 Platform That Hands Creators the Keys to Tokenize and Monetize

Today, Elastos dropped a bombshell with the launch of Elacity, a Web3 platform that hands creators the keys to tokenize and monetize their digital content—think music, films, or essays—directly to fans, bypassing the usual platform tolls.

Elastos has unveiled Elacity, a Web3 platform aiming to empower creators by enabling them to tokenize and monetize their digital content directly to fans.

This move, described in a press release as a 'pivotal moment in the evolution of the creator economy,' will allow creators to mint their work, be it music, films, or essays, into encrypted NFTs.

Each NFT will be programmed with smart contracts, granting creators complete control over access, royalties, and resale terms.

Elacity will provide a simple interface for creators to configure their NFTs, requiring no coding experience. They can set up "smart channels" with NFT subscriptions for dedicated followers or one-time purchases for casual viewers.

Moreover, creators can choose to lock content behind any top ERC-20 token or NFT collection, effectively creating exclusive crews with varying privileges.

Royalties can be set as low as 0.1% and will be distributed instantly to collaborators or fans with every transaction.

The platform will be powered by Elastos’ SmartWeb and ELA token, which is merge-mined with Bitcoin, leveraging more than 50% of its hash power for security without incurring additional energy costs.

All sales and royalties will be processed through ELA, directly linking its value to the platform's success.

“We’ve rebuilt the internet for creators, in an environment where they can retain control and be rewarded for their craft,” said Sasha Mitchell, founder of Elastos.

CTO Anders Alm further emphasized the shift in the creative landscape, adding that Elacity will introduce "a new creative economy, where fans become stakeholders and creators can finally reap the rewards they deserve."

The introduction of Elacity comes amidst a broader trend of tokenized assets, highlighting the potential of content as a scarce and valuable commodity in the crypto domain.

Earlier this year, Elastos secured $20 million in funding from Rollman Capital to develop Bitcoin DeFi use cases, showcasing their significant role in the cryptocurrency space.

While Elacity offers a promising model for content creation and monetization, its success hinges on the adoption rate among creators and fans.

The platform’s technology is based on IPFS for efficient content storage and Bitcoin’s trustless network, providing a robust technological foundation. For a deeper dive, visit labs.ela.city or follow @elacityofficial.