Introducing snaktcoins - APPLY BY May 26
We are proud to announce that Snakt is rolling out a new monetization program, SnaktCoins — combining the best aspects of other revenue models into one creator-centric system.
Creators will be able to earn in three easy ways:
- Views: Creators will earn on their views, with an initial baseline CPM of $3.00, regardless of whether the content is advertiser-friendly.
- Bonuses: Creators will earn bonus payments for the fans they bring to Snakt, plus bonuses for posting more than twice a week, or for posting videos to Snakt first, before they get posted to other platforms.
- Fan Gifts: Creators will also earn bonuses for fan gifts. Fans will earn coins simply by being active, without having to pay for them. Fans can then give those coins to their favorite creators and videos. Coins given to a video containing multiple creators’ content will undergo revenue sharing automatically using our SnaktTrack™ rights management system.
To fund this system, we are initially relying on our own resources and our investors, and in time, this will be funded by advertising dollars. Yet here is a critical point: we are committing to fund SnaktCoins on a sustainable basis by allocating a portion of our sponsored content revenue (which normally goes 100% to the platform). Snakt will provide the capital to the fan-funding system, and the fans will get to decide who gets paid what.
This system has a number of major advantages over any other creator revenue system to date:
- It does not rely solely on advertisers. Make what you want to make; if it gets views, you get paid.
- It works for different types of content. Whether you make vlogs on YouTube or you wish you could still make Vines, you can post them on Snakt and get paid.
- There are no subscriptions. Fans are not forced to pay money, as they were on Vessel, or as they are on YouTube Red or crowdfunding sites like Patreon.
- There are multiple revenue streams all in one place. In the future we will even integrate a portal for brand deals as well.
- Our SnaktTrack system tracks and protects creators’ IP and provides automatic frictionless revenue sharing — paying both curators and creators, disincentivizing freebooting and piracy, and giving creators downstream views and downstream revenue (more on that soon).
SnaktCoins will begin with a group of 50 creators on June 1, with further expansions to follow. Creators are invited to apply from now until May 26. Click the button below to apply, or with any questions.