What if every single tweet or Facebook post you have ever made could be listed as an NFT? How much money would you earn from selling them as NFTs? This isn’t just a mere imagination anymore. Woonkly is making this a reality with Blockchain technology.
Woonkly is a Metaverse social network that allows users to turn their content into NFTs. It is a Meta-Social network that connects users to exchange value in a decentralized manner.
If you are interested in how this revolutionary social media network works, and how to enjoy the benefits it offers, you are on the right page.
In this article, you’ll learn about Woonkly’s ecosystem, and what its utility token (WOOP) token can be used for.
What is Woonkly?
Woonkly Meta social Network is a Decentralized Social Network that allows content creators to directly convert their posts to NFTs. The platform allows creators to have complete ownership and control over the content they create.
Unlike centralized social media platforms which upload users’ content to central servers, Woonkly stores content in an interplanetary file system (IPFS). This way, content is stored across thousands of computers across the world connected to its network.
Woonkly aims to create a decentralized global pool of creators, influencers, Talents, users, and metaverses, collaborating seamlessly.
Creators can post any kind of content and earn royalties from them. Several kinds of content can be converted to an NFT, including songs, video clips, podcasts, books, selfies, or even metaverse lands.
By decentralizing social media content creation, Woonkly seeks to restore power to social media users while allowing them to monetize content in a new way through NFTs (non-fungible tokens) and gamification.
Woonkly currently runs on 2 Blockchains, the Binance Smart Chain network, and the Ethereum network. It will integrate with Avalanche and Solana networks soon and will run on its public blockchain in a few months.
Woonkly Use Case: Running Ads on Woonkly
Woonkly aims to decentralize advertising so that brands and advertisers could share their advertising costs directly with their audience. Every advertising campaign on Woonkly is funded with WOOP.
Creating an advertising campaign is very simple on Woonkly. An advertiser just needs to upload the content on the platform and the video or image will be converted to an NFT. Then they need to tap on the “promote” button, choose their desired audience, how many users they intend to reach, how much WOOP they intend to pay, and they can go ahead to publish it.
Advertising on Woonkly is a cheaper option compared to running ads on major Centralized Ads platforms. It is at least 80% lesser than running Ads on such mainstream Ad platforms.
It is also interesting to note that users get rewarded with some WOOP for viewing, interacting with, or sharing Ads. In addition, they can decide when and how they see the Ads. This will help them only view content that is aligned with their interests.
Before a user can view Ads and start receiving rewards for viewing and sharing Ads, they must undergo a KYC process to verify their identity. This process involves answering a series of questions about their interests, tastes, and habits.
By answering these questions, the user will receive some Woonkly (WOOP) tokens and their data will be stored in a decentralized server (IPFS), enabling Woonkly’s algorithm to show them their preferred ads.
Woonkly Use Case: Woonkly Creators and Gallery House Program
Woonkly Creators House (WCH) is a unique Woonkly program that brings together top audiovisual content creators on Woonkly’s social media network to create unique NFTs for talents, influencers, NGOs, brands, or any user who needs their services. These top content creators in WCH are rewarded with WOOP for their services.
The Woonkly Creator’s House (WCH) seeks to assemble the best global creators to create unique content that will be converted to NFTs for various clients.
When a user hires the service of one of the creators in Woonkly Creator’s House, 80% of the WOOP token that is paid will go to the creator and 20% of the fee will be distributed across the ecosystem based on the Woonkly distribution program.
Furthermore, WOOP is used as the capital to purchase NFTs on Woonkly Gallery House (WGH) program. Woonkly allocates 15% of the total profit from its platform to the Woonkly Gallery House and uses the capital to buy NFTs from users who list them with the WOOP token.
Even if the profits are in any token that is not WOOP, that capital will be used to re-buy WOOP on the Market and boost Woonkly Gallery House reserves in WOOP. Then they can proceed to buy the creators’ NFTs on Woonkly.com.
When a user buys an NFT that is owned by Woonkly Gallery House, 90% of the profit made will be used to repurchase NFTs from Woonkly.com users and 10% will be redistributed as commission based on the Woonkly distribution program.
Woonkly Use Case: Staking and Sharing in Profits
While popular Social Networks or NFT trading platforms retain most of the sales made for themselves, Woonkly.com actively allocates some amount of all the profit generated by the platform to its users.
However, not all users are eligible to take part in the profits shared. Only WOOP token holders who stake their tokens on the platform are eligible to partake in Woonkly’s profit distribution program.
From October 6, 2021, to October 6, 2022, as a launch campaign incentive, holders of the WOOP token will be able to stake their tokens on kubic.com and earn an Annual Return of 6-7% in WOOP.
In addition, from the 1st quarter of 2022, 40% of all Woonkly’s profit will be distributed to WOOP token holders who stake on Woonkly.com.
Furthermore, some amount of the money that users pay to buy NFTs from Woonkly Gallery House will be distributed to Woonkly power token holders who stake on the platform. Also, some percentage of the profits from the Woonkly IP House will be allocated to WOOP token holders who stake on the platform as well.
Woonkly Use Case: Discounted Services
The WOOP Token is used in woonkly.com to pay for the fees of the several services offered by the platform. However, WOOP isn’t the only token that service fees can be paid with. Users can also purchase NFTs or run Ads on Woonkly with ETH, BNB, or AVAX.
Users who pay for services with WOOP enjoy as low as a 50% discount on all the services on Woonkly. For instance, while other token users pay 3% when buying or selling NFTs on Woonkly, those who pay with WOOP pay just 1.5% trading fees.
In the same vein, users who run Decentralized Advertising campaigns pay 10% with other tokens and spend just 5% when they pay with WOOP. .In addition, the fees on sending private messages are 10% with other tokens and 5% when paying with WOOP. Hence, paying for services in WOOP is a no-brainer way to enjoy discounted services on Woonkly.com.
What Makes Woonkly Unique?
Woonkly is leveraging NFTs and Metaverse to promote a decentralized social media network for content creators. It also aims to establish an interactive directory of both current and future metaverse of brands, games, influencers, and gamers.
As part of its plans to achieve this, Woonkly created its native utility token (WOOP) which has been in circulation since it launched in the first quarter of 2021. The token is pre-mined and has a market cap of 1,000,000,000 tokens.
Woonkly doesn’t exist to compete with other traditional social networks, but to help everyday social media users easily monetize digital assets like essays, videos, photos of special moments, digital arts, land, buildings, tools, and characters of metaverses across the world.