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ETHOS is a short video creation platform that is expected to grow into the Web 3.0 version of TikTok. We are developing a system that solves the problems faced by existing Web 2.0 platforms and allows not only creators but also users to earn money through token acquisition.
ETHOS is mainly targeting Asia, and attracted attention after Yusaku Maezawa’s fund “MZ Web3 Fund” invested in it.
Therefore, in this article, we will explain the overview of ETHOS, its differences from conventional platforms, and its future prospects.
table of contents- Overview of Web3 short video creation platform “ETHOS”
- ETHOS features that solve the problems of traditional social media
- ETHOS Tokenomics
- Partnership with the ETHOS team
- Future prospects for ETHOS
- Impact of ETHOS on the digital content market
1. Overview of Web3 short video creation platform “ETHOS”
First, let me introduce an overview of ETHOS. ETHOS is a decentralized social media platform built on the Binance Smart Chain (BSC). By adopting a decentralized system, the platform is operated without being managed or controlled by a single organization. This allows users to retain full ownership of their content data and provides a high level of privacy.
ETHOS has two mechanisms, “Watch2earn” and “Engage2Earn,” which provide incentives through which revenue is redistributed for video viewing and content creation. The acquired tokens can be used to purchase products and services within the ecosystem.
ETHOS aims to maintain and expand the ecosystem through Tokenomics and community-driven platform management, and revolutionize the online content market as the “Web 3.0 version of TikTok.”
2. ETHOS features that solve the problems of traditional social media
ETHOS is a decentralized platform and is community-driven. This can be expected to solve the problems faced by traditional social media, where all data is controlled by a specific company.
2-1. Problems with traditional social media
With centralized social media, there are concerns that ownership of the content created does not belong to users, that privacy is violated through data collection, and that censorship is possible through the manipulation of algorithms. .
For example, there are concerns about TikTok that data entered on the app is being collected by the Chinese government through its operating company. As a result, more than half of the states in the United States have banned the use of the app on official terminals used by federal employees. Popular social media such as Instagram and Facebook are also being questioned because of the data collection that is being done by the companies that operate them.
Furthermore, it has been pointed out that on YouTube and TikTok, much of the advertising revenue is thought to be taken out by the operating companies, which tends to put users at a disadvantage in terms of profitability.
2-2. ETHOS services that solve traditional issues
ETHOS aims to solve the problems faced by traditional platforms by transforming social media into Web 3.0.
First, users have ownership over their personal information and content data and have full control over how it is used and shared. It is operated by a community of users, ensuring high reliability.
We will also utilize smart contracts for revenue and payments. We have adopted a system in which token rewards earned through ETHOS are automatically and directly distributed to creators and users. By emphasizing transparency and avoiding black-boxing rewards and fraudulent operations by management, you will be able to gain a high level of trust from users.
2-3. Monetization model on ETHOS
Next, we will explain the various ways users can monetize on the ETHOS platform.
First, content viewers earn tokens by watching short videos. The acquired tokens can be used to use services and purchase products within the ETHOS ecosystem, and the ability to participate in the economic zone without using cash or card payments is also attractive.
Content creators can also publish videos and articles on ETHOS and earn tokens based on the number of viewers of their content. You can also set up paid subscription services and exclusive content and earn tokens as revenue from buyers. At this time, users who paid with tokens will also receive cashback of 10% of the payment amount in the form of CRT tokens.
In addition, “ETHOS NFT” functions like a mining machine within the ecosystem, and it is possible to continuously obtain tokens for a certain period of time by holding it. There are 5 levels of NFT rarity, and the higher the rarity of the NFT, the higher the durability and the higher the probability of obtaining tokens.
3. ETHOS Tokenomics
The ETHOS ecosystem built on BSC is mainly composed of two tokens: “3TH” and “CRT (Creator Token)”. 3TH is EHOS’ native token related to platform profitability, and CRT is the governance token.
Supply amount:
- 3TH token: 1,000,000,000.00
- CRT token: unlimited
While 3TH is listed on exchanges and traded publicly, CRT functions only within the ETHOS ecosystem. With a structure in which CRT complements the role of 3TH, we aim to stabilize the long-term continuity and liquidity of the ecosystem. In addition, “ETHOS NFT” can be used for monetization, and the rarity can be increased by synthesizing NFT using “prop” that can be purchased with CRT or 3TH.
The platform operator earns revenue by receiving fees from creators’ revenue.
4. Partnership with the ETHOS team
Next, let’s take a closer look at ETHOS’ management team and partnerships.
4-1. ETHOS management team
ETHOS is led by Tiger Miller, a well-known global investor, as CEO and founder. He is also a digital content authority who has been creating content in the television and film industry for over 15 years.
Kaue Cano, one of the most prominent figures in the Brazilian cryptocurrency field, also participated as a co-founder. He is a former MakerDAO smart contract engineer who also contributed to many high-profile projects such as Solana Foundation and ENS.
In addition, the ETHOS team includes many experienced Web3 engineers and marketing experts.
4-2. MZ Web3 Fund also invested, ETHOS partnership
Next, let me introduce ETHOS’ partner companies.
- MZ Web3 Fund
- DAO Maker
- BNB Chain
In Japan, Yusaku Maezawa’s investment fund “MZ Web3 Fund” made an investment in ETHOS, which attracted attention. The MZ Web3 Fund was launched by Yusaku Maezawa, who has a wealth of experience in Web3.0, and operates with the motto of “getting even people who don’t understand it moving forward.” The aim is to shine a light on places and people that have not been spotlighted until now, reduce information disparities and income disparities, and connect all people across politics, religion, race, national borders, and gender. .
Additionally, in May 2023, ETHOS announced a partnership with the IDO platform “DAO Maker,” which has achieved numerous successful token sales. IDO (Initial DEX Offering) refers to a funding method in which transactions are conducted directly between parties on a decentralized exchange.
DAO Maker is characterized by its strong trust from investors as it maintains a high performance track record by carefully selecting blockchain projects with high future potential and implementing IDOs. With this partnership decision, ETHOS’s popularity has skyrocketed.
Furthermore, ETHOS has also entered into a partnership with BNB Chain, a global blockchain network that allows you to build decentralized applications.
5. Future prospects of ETHOS
Finally, let’s consider the future prospects while referring to the roadmap on the official website.
First, as of October 2023, ETHOS aims to reach over 500 creators and reach its advertising revenue goal. In the future, through partnerships with music events, we plan to provide limited gamified content and benefits and develop a new market for secondary ticket sales. In the long term, we plan to further diversify the ways in which users monetize.
ETHOS is strategically focusing on promotion in Japan and South Korea, and is disseminating information to the domestic virtual currency community through campaigns on X (formerly Twitter) and exchanges. In addition, we plan to expand our reach to virtual currency natives in Southeast Asia, mainly in Vietnam and Malaysia.
6. Impact of ETHOS on the digital content market
ETHOS is a promising project that received investment from the MZ Web3 Fund and was selected as an incubator for DAO Maker. If the ecosystem expands through the “Engage to Earn” mechanism that allows monetization through posting and viewing, there is a possibility of creating new innovations as a Web 3.0 version of TikTok.
We look forward to the future of ETHOS, which is managed by an experienced team led by Tiger Miller and partners with global projects.
The post What is “ETHOS”, the Web3 version of TikTok invested by MZ Web3 Fund? appeared first on Our Bitcoin News.
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