Creaton, a decentralized, subscription-based content sharing network, announced that the platform has received a total of $1.1 million in funding on October 7th in Sheridan, Wyoming, from investors including BTSE Labs, Tykhe Block Ventures, and other angel investors.
Creaton is Making it Possible
Artists on Creaton, in contrast to many other similar sites, may accept paid memberships from their followers and be repaid in bitcoin for their work.
Unlike the conventions of ordinary Web 2.0 content sharing platforms, Creaton artists retain entire ownership of their work as well as the remuneration they receive from them.
To protect the content, it is encrypted and stored on Arweave using the Lit Protocol, which is supported by decentralized storage on Arweave. Therefore, the team will be unable to alter or even view the material unless the originator gives permission.
Artists can restrict access to their works to a limited and exclusive audience by integrating smart contracts and various blockchain technologies, so preventing arbitrary prohibitions, censorship, and payment delays, among other things.
Through Superfluid’s streaming payment mechanism, the Creators can make money from the subscriptions of their followers, which are instantaneously converted to bitcoin by the platform.
Explaining the motive behind Creation, the founder Alexander Klus said that their goal is to liberate artists from the Web 2.0 shackles that have been unjustly placed on them in recent years.
According to Prashant Malik – Founder of Tykhe Block Ventures and a former member of Facebook’s first ten workers, Creaton is the driving force for content producers in ways that have been never seen before via the use of decentralized blockchain technology.
“We are really looking forward to seeing the Creaton team focus their efforts on fuelling the next generation of the Creator Economy,” the founder concluded.
Creation is a decentralized content subscription platform (similar to the Web3 Patreon) that empowers artists to directly monetize their community through subscriptions to their work.
In order to create a Web3 creative platform that actually works, Creaton is merging Polygon smart contracts, Arweave storage, Lit Protocol encryption, and SuperFluid payments with other technologies.
About Tykhe Block Ventures
Tykhe Block Ventures is a well-known investment business with its headquarters in Singapore. With a great location in Asia, and loads of local talent, the company is sure to grow from here.