What we are building in Web3 and what is CrowdPad all about?
So the big question that we’re all asking. WTH is CrowdPad all about?
Let me take you back to the beginning of time itself to explain this. Jk. This isn’t going to be one of those white papers. I’m just here to tell you in summary what we believe in, what’s broken, how we’re fixing it, and what’s the technology we’re using to power this entire thing?
At my core, I personally have a background working actively in the impact and ed-tech space and have spent a couple of years, not too long ago, trying to ensure that students from socio-economically diverse backgrounds have access to the same higher education opportunities that I was afforded. And for the longest time, to ensure this, we had to rely on the good graces of the social responsibility quotas at large corporates to even get any form of monetary support across to young students who really needed it. We’re talking grants & soft-loans. The true roots of CrowdPad stem from this very powerful mission of empowering people everywhere in the world to have access to a global, incentivised & transparent capital and community network.
CrowdPad is going to be the place that the kid who dared to be different and dreamt big could demonstrate their potential and find their earliest group of believers. Never have we ever truly found a mechanism to align the incentives of the individual in need of this capital and community, and those early believers that have the ability to get behind them. It’s always been a one way street, and this is what is fundamentally changing with the rise of social tokens (I’ll explain this in a second).
What’s wrong with the way things currently work?
You have platforms where freelancers and creators can make money even today, so what’s the issue? The problem here is that we’ve been building just for the top 1% of creators. Creators who have a distribution advantage are able to monetize their content by allowing ads to play in their videos, or have sponsored content and so on. Today, only the top 1% of YouTube creators make minimum wage, and only 3% of Patreon creators make minimum wage.
If we’re working to build a future where everyone can do multiple projects and not be stuck in one boring job, shouldn’t we be enabling people to earn more from those pathways than just be slogging away for years on end at the side with their passion and then let it wither away when their financial limitations also limit their time?
What’s CrowdPad doing about this then? How are we going to make everyone earn a minimum wage? The fact is that’s still to be proven but our thesis is that this is the best tool in the world to enable it, and we’re going to get it in the hands of everyone.
On CrowdPad, with the click of a button, an individual can launch their own community that allows their earliest believers to buy into their social token i.e Joel coin, and allow it to accrue value whilst allowing the creator aka Joel the financial ability to purchase that extra piece of equipment he may require to shoot his next big YouTube video or connect him to one of your buddies over at Marvel where he can land a gig for all his creative portfolio work. CrowdPad is where everyday creators who are consistent, hard working & talented meet a global capital and community network.
So what do you as the backer get in exchange for buying Joel coin in the simplest of terms? In exchange for buying my token, you can have exclusive access to events that I put together for all my supporters, early access to projects I’m dropping or unlisted videos that I make exclusively for a certain tier of token holders aka only for people who are staking (or locking in) Joel coin for 1 year for instance. You also get a fixed percentage return for simply adding more liquidity to the ecosystem — think of it how you earn interest on a deposit you place at a bank for instance — it’s not the same thing, but the easiest analogy.
So by buying Joel coin, you’re showing him that you're putting your money where your mouth is (or as I like to call it, Belief Capital), you’re earning a certain % return depending on the amount that you decide to inject into his community (as illiquid rather than just trading his token and creating too much uncertainty for him), & you unlock several tiered benefits that he’s able to offer in exchange for your belief in him essentially.
Crazy right? The ability to empower anyone in the world to pursue their dreams and the big corporates don’t get to swing their money card over your head. How powerful is that? And you don’t have to be in LA to be a big artist, or in Silicon Valley to be the next big entrepreneur— you can be where you want and still have that global network.
Now apply this in the context of communities as opposed to just individual creators and you have another huge unlock. The notion that people working on cool initiatives & projects can simply come in to CrowdPad, launch their token economy, get their community discovered by like-minded people and then mobilise that community capital to go out there and build whatever product or project they want! How cool is that?! I mean, that’s the dream if you ask anyone that’s hustling towards their dream today.
So what’s the TLDR on the tech that’s empowering everything I’ve mentioned above? We’ve shipped the worlds first mobile social token platform that will allow you to scroll through videos of communities that you’re passionate about, join and contribute in those communities and even get rewarded for those contributions in the social currency of that particular community. You will also be able to convert this social currency into US Dollars if you choose to, but personally, at CrowdPad we love rewarding hodlers (aka people that hold on to social tokens for a really long time) because we want people to say just as they say I bought Bitcoin in 2011, I bought Joel or Beyoncé coin in 2022.
So yeah that’s the 101 on what CrowdPad is building.
If you see us using words like social tokens & Decentralized Autonomous Organizations (DAOs), please don’t get thrown off because at the end of the day, it comes down to one simple mission. And that’s to unlock access to a global, incentivized, transparent capital & community network for the hardworking everyday creators out there. That’s CrowdPad.