Social media allows many online creatives – musicians, artists, writers, and others – to reach new followers. However, getting paid for their talents is still an issue for many creatives, especially those with a smaller fanbase. They can spend hours and hours creating content, but if it doesn’t go viral or they don’t find a sponsor, they don’t make any money off their creativity.
Momento, a blockchain-based social media platform that directly connects fans with creators, is out to change that situation. With Momento, creatives can earn money off their content no matter how many – or few – followers they have.
“We’re giving the ability to create back to the creators by ensuring they have the support they need to do what they love,” said Momento founder and CEO Julian Rodriguez. “By fostering direct fan-to-creator relationships, we’re able to help creators do what they love without having to worry about making money off of sponsorships.”
How Creatives Benefit
When artists join Momento, their fans can pay for the content the creator makes and shares.
Momento enables this by offering Non-Fungible Tokens, or NFTs, which are unique digital code created from the content the artist creates. NFTs make it easy to buy, sell, and trade digital art.
Buying an NFT can be compared to buying a CD or a movie, even if you can already see the content online. Fans who want to support a particular creative can do so by paying for a piece – or several pieces – of content through Momento.
“A memento is something that captures a moment and allows someone who wants to remember that moment to hang onto it,” Rodriguez said, explaining the origin of the platform’s name. “We want fans to own their favorite moments in time, and to be able to do that in a way that directly benefits the creator.”
Rodriguez likens Momento to “the intersection of TikTok and Patreon” as it’s a mobile social platform “that connects content creators to fans in a way that allows fans to financially support creators directly,” he said. “Content is an asset class, but most social platforms make it so if you don’t get millions of views and likes, you don’t get paid for content. We’re getting away from that to make sure creators get all the value they deserve from their content.”
With Momento, artists don’t need millions of followers to make money. They simply need a few followers who enjoy their work so much they want to buy an NFT.
“We hope to bring NFT to the masses,” added Sudesh Banskota, CTO of Momento. “We want to make NFT creation simple and approachable for everyone. Creating and selling your NFT should be as simple as creating an Instagram post.”
Momento Is a Better Option
Until Momento came along, artists had to depend on traditional social media platforms both to promote their talents and earn money. However, to make money on social media, an artist typically needs a massive number of views and likes. And even when an artist reaches a huge level of followers, the platform can increase the number of subscribers required in a partnership. To many artists, it feels like the goalposts keep moving.
Aside from partnering with a platform, the other option creatives have to earn money has been sponsorships. For these, an artist also needs a minimum number of fans, and sponsorships often come with restrictions that may limit the artist’s creativity.
Often, artists end up making content for multiple social platforms, trying to raise interest on one platform to encourage fans to find them on another platform. The process can be exhausting without necessarily resulting in more earning power.
“We built this platform for creators who want to earn money by creating things, not by selling out for sponsorships,” Rodriguez said. “That’s at the heart of what Momento is doing.”
With Momento, fans can see content on the platform and choose to support the content they enjoy the most. As a result, content creators don’t have to spend their time switching between content platforms to entice followers to check out a different platform. In that way, Momento allows creatives to free up their time to do what they are good at rather than managing social media accounts.
“I don’t know a single TikTok creator or Instagram influencer who enjoys chasing after brand deals and specific follower metrics,” said Rodriguez. “So being able to build Momento in a decentralized way to take all that stress away, while still giving creators the fanbase they’ve worked so hard to build, is our number-one mission.”
Momento is a direct-to-fan NFT social network that lets fans and collectors own the best moments of content creators. They have a new partnership with Dapper Labs, the official NFT of the NBA and creators of NBA TopShot & CryptoKittes. Be among the first to create or own your own NFT moment here: https://www.momentonft.com/