[PRESS RELEASE – Singapore, Singapore, August 27th, 2024]
RepubliK has announced the launch of Creator STOX on the STOX Market, a platform transforming social media monetization and valuation by opening avenues of direct value streams for individual content creators and influencers.
The STOX Market enables individuals to directly support and be rewarded for the success of their favorite creators by purchasing their STOXs using RPK Tokens on Arbitrum, democratizing social media participation, and fostering a direct economic link between creators and their communities.
Creator STOX’s novel value-distribution model allows a portion of fees generated through monetization features on the RepubliK Social App, such as fan subscriptions, token-gated chats and tipping, to be pooled and distributed among STOX holders on the STOX Market dApp. The approach incentivizes creators to build and engage their communities while providing tangible crypto benefits to both them and their supporters.
Since its beta release, the STOX Market has had rapid traction in the past week with over 200 STOXs minted and a Total Value Locked of 2,330,163 RPK in its smart contract. The platform has facilitated 3,363 trades on Arbitrum, and boasts a combined social following of creators launching their STOXs at over 12.8 million. Well-known creators in the industry are joining the platform, such as Mari Koda, an actress/lead dancer in the Step Up franchise, crypto KOLs like ibcig, two-time beatbox world champion Dharni, cosplayer/gamer Yuuno, and Asia’s top-ranked professional esports female gamer Cherzinga, and more have all minted STOXs, bringing a diverse set of influencers to the STOX Market.
“Creator STOX marks a shift in how we perceive and participate in social media,” said Richmond Teo, Co-Founder of RepubliK. “It empowers fans to support and simultaneously benefit from the success of their favorite creators, strengthening the bond between creators and their communities through a mutually beneficial ecosystem.”
As creators’ influence grows, the value of their STOXs appreciates, allowing supporters to share in the growing value of the creators they support. Additionally, all transactions involving STOX generate a trading fee shared between the RepubliK platform and the creator, ensuring that creators are rewarded for every trade activity of their STOX.
Differentiating itself from traditional trading models, the STOX Market operates on a dynamic pricing system that reflects real-time engagement metrics across social platforms. Each creator’s STOX price is based on the social value across social media platforms and RPK generated through monetisation on RepubliK through tipping, pay2chat, and subscriptions. This ensures a fair valuation aligned with a creator’s evolving influence, encouraging long-term supporter loyalty and community engagement.
About RepubliK
RepubliK is the World’s first AI-Powered SocialFi Platform striving to redefine content creation, sharing, and monetization through the integration of AI and blockchain technologies – empowering everyone to participate, create and govern within the RepubliK ecosystem, designed to value genuine contributions.
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