Coub.com, a short video social media platform pioneer, is moving into Web3 with its new Watch-to-Earn feature. Along with its new model, the platform is introducing an NFT marketplace, a first of its kind for short video platforms. On the marketplace, users have access to NFTs, which are already generating rewards for collectors in Q3 2022.
Coub.com- A Pioneering Platform
Coub.com is a pioneering platform that was the first to launch meme video clips. It did so before industry giants Instagram and TikTok became popular. Since its launch in 2012, the platform has been amassing a large following, and it now has an active user base of over 106 million annual active users.
For its decennary celebration, the platform has decided to make a massive entry into Web3 with an innovative watch-to-earn model. This new model, which launches on its tenth anniversary, will enable users to create and watch videos and receive rewards for each like, view, comment, and share.
Transition to W2E will be done smoothly without any changes to the user experience. It will entail releasing a new feature with tangible value tied to each of the coubs users create. This new feature will display every 12+ million unique clips on the platform.
The platform’s team is working to ensure the implementation will take place smoothly. Things like the non-custodial Coub Wallets will be seamlessly implemented for all users. Another addition will be the NFT marketplace, where users can access advanced monetization tools. Users will be able to capitalize on the success of their video clips on top of being able to convert them into NFTs they can sell.
Details of the NFT Marketplace
With the NFT Marketplace launch, Coub.com will introduce a new class of NFTs offering holders quantifiable ownership benefits. Each Coub NFT will feature the media asset and a proportionate share of all future W2E earnings from the purchase of the NFT.
All NFTs will bear inherent value, which Coub users can assets based on content statistics collected and proven using the blockchain. It will ensure Coub NFT buyers can accurately assess the real market value of the purchase and predict future income, which is guaranteed after the ownership switch.
CoubDAO
To complete the Web3 transition, Coub.com plans to introduce CoubDAO, a decentralized autonomous organization. The DAO will allow views and creators to participate in the platform governance. They will be allowed to propose and vote on changes and upgrades using a pair of tokens, which are vCOUB and COUB. The vCOUB tokens are the activity reward tokens, while COUB are the utility tokens used to trade NFTs and unlock additional W2E opportunities. DAO integration will allow Coub.com to strengthen its community focus and turn millions of users into active participants in the platform’s growth.
The developer team has spent several months researching, designing, and implementing secure on-chain infrastructure that will power the W2E model and NFT marketplace. To address legal issues regarding content monetization, they will implement the ContentID engine, which features an innovative on/off-chain legal system. The result is expected to be a fair method of tracking royalties that offers creators access to a huge music library where they can find soundtracks for their coubs. The platform is working with a top blockchain audit firm to bolster security to ensure it can securely handle over 106 million users.
Expected Launch Date
The full implementation of Web3 features on Coub.com is expected to begin in Q2 and Q3 2022. The features will be gradually introduced to avoid any disruptions to the platform.
