“Creator coins are a custom-branded form of digital currency. Effectively, this means you can create your own cryptocurrency and develop a virtual economy around your digital business.”
“Here are three main ways creator coins are used by those who make them:
Spend: Your audience members buy and transfer coins to you directly in the form of a tip or donation. Or your community uses your coins to purchase a product, service, or event ticket.
Hold: Like other forms of cryptocurrency, people can hold your coins as a digital asset that has the intrinsic benefit of gaining them access to products, services, events, coaching, and consulting according to criteria you establish.
Earn: Your audience members and fans can earn your coins in exchange for referrals and repeat purchases. You can also do coin giveaways to those who hold a certain amount of coin, or for any other reason you think is appropriate.”
Big Idea: We are starting to see many independent creators minting their own coins for their communities. BitClout is one of the bigger success stories. It’s still early, but there are clearly big opportunities here.