Money is not the only currency. That’s not from me, that’s from Ye. When we consider the meteoric rise of the creator economy over the past couple of years, this simple statement rings profoundly true. Currency exists in time, influence, connection, audience, and perhaps most important of all, in attention. It’s no surprise that social tokens have emerged as the most efficient and effective way to capture that much broader definition of currency that has much more to do with value than it does with money.
Social tokens are born of Web3, meaning that at their core they represent the value that exists at the nexus between individuals and the communities that develop around them. In fact, by empowering deeper and more meaningful engagement between individuals and their communities, social social tokens help facilitate organic growth on both sides of the equation. Those artists who have begun embracing social tokens are truly the vanguards not just of Web3, but of the next generation of creativity. They are helping platforms like P00LS to shape the tools we will use to build the creative middle class.
P00LS is the third Web3 project that I’ve founded and was born of the vision I outlined above. Over the past year the initial idea of building a platform that empowers creators through social tokens has grown into a fully fledged company, with a whole team of people creating the leading community-first, decentralized exchange for creator cryptocurrencies.
What we do: we partner with creators—artists, musicians, athletes, influencers— as well as brands to launch their proprietary token, distribute it to their communities, and ultimately list it on the P00LS decentralized exchange, where it can be earned and traded on Ethereum. Partnering with P00LS means incentivizing audiences and fanbases to consume creator and brand content, while empowering them to promote, share, and scale it. With P00LS—the premier tool for accessing creator value—money is no longer the only currency.
Put simply, alongside P00LS, creators can:
Through P00LS, creators don’t just create a social token. They create a tokenized community. Alongside talent and brands that partner with P00LS and their community, we’re building the tools and the playbook for any creator to develop their own community aligned with a social token. We guide creators through the process, ensuring that they foster authentically aligned communities.
At its core, P00LS is a DeFi protocol. Social tokens created and listed by P00LS are ERC20 tokens compatible with the rest of the Ethereum ecosystem, including the more than $100 billion of Total Value Locked in Ethereum DeFi. The P00LS DEX, when it launches in early 2022, will have important DeFi features such as liquidity mining or token staking, plus more features to be developed.
More than technology, P00LS is building a cultural momentum, with the most culturally relevant creators of our times. At its inception, the P00LS protocol will only be available to a small number of creators. We are being very careful to partner with creators who understand and share our vision for the creator economy and our roles within it. Once we’ve gotten our footing with these creators, however, our objective is to make P00LS completely open to any creator looking to engage their audience.
If you’ve read this far, you’re probably already wondering about a P00LS token. As a decentralized Web3 protocol, we will introduce the $00 token: P00LS’ own governance token. $00 will be distributed to creators, their community, as well as the P00LS team and initial investors. More on that later.
P00LS launches tomorrow with our first creator token... although you’ll have to wait until tomorrow to find out who our first creator is. While this first creator token won’t be minted until early 2022, we are opening the platform early so that those interested can make an account and begin earning claims on this token, which we will keep safe in your P00LS account until the token is minted. Then as soon as the P00LS DEX is launched (also in early 2022) and the token is minted, you’ll be able to withdraw the tokens that you’ve claimed from your P00LS account.
Back to launch: we will be revealing who this creator is as well as ways to get started claiming tokens tomorrow at 11 am EST, so be sure to follow us on our social accounts (@p00ls_ on all platforms) to learn more. You can also drop your email address on p00ls.io to get early access.
And of course, we’d love to hear from you. Feel free to shoot us a DM. Money is no longer the only currency. Welcome to the P00L party.