Guide :

As of December 2022, TikTok has become the world's largest short video social platform in less than four years, with 1.4 billion monthly active users worldwide. It took Instagram six years and Facebook four years to reach that number of active users. In addition, TikTok has become the most downloaded app in the Apple App Store for five consecutive quarters. This means that TikTok is not only able to maintain its existing user base, but is also constantly evolving to attract new ones.

However, behind the prosperity of short video platforms, outstanding creators have no way to realize their profits. Statistics show that at least 50% of short video bloggers in the entire industry have not achieved balance of payments. The difficulty of monetization has caused great damage to short video practitioners and the short video ecology, and has also limited the output of excellent content. The launch of the Toktok platform is to solve the problem of creators’ monetization difficulties and create talent-based creators economy.

1.TOKTOK Introduction

geeks and professional managers from all over the world , and adopts the innovative business model of web3. It is a collection of TikTok , binance , Opensea , and Telegram, realizing one-stop services such as entertainment, chat, and financial transactions .

TOKTOK combines financial investment behavior with social short videos by introducing blockchain technology. This celebrity (KOL)-based stock system allows anyone to have the opportunity to issue their own celebrity stocks, and grow and make money together with their fans , maximizing the value of KOLs and fans. At the same time, it also gives more mass creators the opportunity to start from scratch, they can show their talents in a more intuitive form, and use creator tokens to create wealth.

At present, TOKTOK has Android and IOS versions, and is in the beta testing stage. It is planned to conduct lambda testing in the second quarter of 2023 . The core functions of the product include content distribution, celebrity stock issuance and trading, NFT casting and trading, group chat, and celebrity accounts . The test customers in the beta test phase are mainly distributed to various Web3 communities and teams. Currently, the number of users in the beta test is 10,000+. In the lambda test phase, it will be open sourced to more fields. For more information, please follow TOKTOK official information.

2.team information

2.1 TOKTOK CEO Rob Palfreyman (Rob Palfreyman)

Rob Palfreyman is a technology entrepreneur with over 24 years of global technology, business and executive management experience in the positioning, wireless and components sectors. He is co-founder and CEO of location database and contextual advertising technology platform Sensewhere, responsible for mobile technology across the company including product strategy, investor relations, customer acquisition model and its global offices in Europe, China and the US , Under his leadership, Sensewhere has grown to over 600 million users.

2.2 TOKTOK CTO William Stanislaus ( William Stanislaus )

William Stanislaus is co-founder and CTO of Grabb-It (S18-YC backed startup), Principal Software Engineer at Ericsson, Senior Engineering Manager at NETGEAR and Design and Release Manager for wireless switch Avaya/WLAN .

2.3TOKTOK C MO David Balvede ( David Valverde)

David Balvede CEO of Grabb -it and co-owner of the global innovation community.

100+ self-organized communities operating in Europe, Japan, Dubai, South Korea, India, Pakistan, Southeast Asia and other regions .

In 2023 , the entire TOKTOK project plans to invest 32 million US dollars in brand promotion, 20 million US dollars in offline marketing , 4 million US dollars in online marketing , and 8 million US dollars in creator support . Online marketing is expected to start in the second quarter of 2023 for global brand promotion. Currently, TOKTOK has cooperated with SUP RA Oracles , Aptos insider, LF, Met is , Fast, GFTMeta , Tencent , Amazon Cloud , Harmony and other projects have reached strategic cooperation.

3.TokTok = TikTok + Binance + Opensea + Telegram

The existing social products on the market can be divided into two categories: centralized social and decentralized social. Centralized social products often have the problem of data ownership, especially the relatively poor liquidity of early creators, and there is no incentive for fans; decentralized social products often can only display text and pictures, and have weak The characteristics of relationship binding are not strong enough to motivate fans.

As the world's first Web3 short video social platform for the Z era , TOKTOK can also be labeled with these labels: the world's fastest log-in Web3 product that does not require mnemonic phrases , and the first Web3 that supports red envelopes from major ecosystems social apps .

At the same time, TOKTOK, as a value-incrementing platform for professional service content creators, can enable content creators to gain prestige and economy on the platform, and at the same time, deeply obtain a long-term path to grow together with fans and make money.

For content creators, it enables the following:

1. Creators are encouraged to continue creating through personal issuance of stocks. After fans purchase, as the KOL becomes more famous, the stock price appreciates, and the fans who buy stocks realize making money. At the same time, due to the instant feedback of individual stock prices, creators are more encouraged to create more high-quality content.

2. Give all creators a chance to start from scratch. The current success of creators on social platforms is often based on the existing reputation in reality, which is not friendly to creators who want to develop from scratch. TOKTOK will be a fair, decentralized, and equal content publishing platform for everyone. As long as your content is of high quality, you will gain the support of the community and fans. Issuing creative stocks (stocks) is based on real strength and content, so that it can compete with big Vs more fairly and gain higher trust from fans.

3. Different from traditional content creation platforms, on TOKTOK, all KOL’s advertising revenue will be distributed proportionally to fans who buy his stocks, which will help increase fan stickiness.

For fans, it has these opportunities:

1. Essentially, different fans have different values, and the existing platforms do not provide different benefits to different fans.

2. Provide early fans with an opportunity to grow with creators, and early investors can truly invest in their favorite creators and their careers, and share the success of creators.

3. For fans who hold a large number of KOL stocks , TOKTOK will encourage them to develop their careers with creators, enhance fan stickiness, and create a creator community.

4. Through the timestamp function, creators can provide additional incentives to early support fans through the number of coins held and the time of purchase, and accelerate the promotion of the fan economy.

4. Economic Model

4.1creator stock

Each creator has a corresponding stock. These stocks are an objective display of personal image on social platforms. The initial quantity and price are jointly constructed by creators and fans. Users can buy or sell any creator stock. The price rises as the quantity bought increases and falls as the quantity sold rises. When the user buys, the system will mint the creator currency. When the user intends to sell, the system will use the lock-up value to repurchase and destroy the stock from the user.

4.2The price curve of creator stocks

Creator shares are scarce, and the system allocates 1 million shares by default. Below is a graph of the price change of Creator Shares as a function of the number of Creator Shares circulating in a given account .

According to the price curve above, buying creates shares while driving up the price and locking the funds in the account, while selling destroys the shares while lowering the price and unlocking funds from the account. This is often referred to as an " automated market maker" and is the same concept that powers protocols like Uniswap and Bancor .

4.3 Creator rewards

Every time a user buys or sells, a certain percentage of stocks will be collected as a "creator reward". If a creator sets the "creator reward" to 10%, then every time a user buys his shares, the creator will get 10% of the amount purchased by the user.

4. 4 Cast NFT

On TOKTOK, users can cast any short video they think is valuable or commemorative into NFT. Once minted, users can bid for the NFT. After the auction, the winner can display the NFT on their profile. NFT. After that, users can also sell this NFT at any time or trade it to other users by way of transfer.

After the NFT auction transaction is successful, the original author, NFT minter and original author, and creator stock holders will all receive a corresponding proportion of income.

Such a mechanism allows creators to focus on creating excellent content, and NFT miners will be responsible for Bole or investors discovering excellent works and casting them, because the original author's celebrity coin holders will also benefit during this period, which enhances The stickiness between fans and authors means that fans are more willing to hold creator shares of authors, and they can also use creator shares as an investment method to form a virtuous circle of social and financial ecology.

4.5 Content Subscription

TOKTOK itself is social and content-based, so the platform supports the subscription model. The author can set the subscription qualification and subscription fee according to the situation.

1) Subscription qualification means that users are required to hold a certain amount of their own creator stocks, or there is no requirement.

2) Bittweets that users need to pay when subscribing .

In addition to sharing the fees paid by users for subscriptions to authors, part of them will be distributed to authors in proportion. So this is another source of income for a user to hold creator shares as an investment.

5.How to join TOKTOK

Different from the centralized TikTok , the accounts on TokTok are stored on the blockchain, and each user has complete control over their own accounts. Neither the chain nor any node will save the private key to control the account . The TokTok account is also the receiving address on its chain.

creates an account with the private key , the address is similar to Bitcoin, Ethereum and other addresses, consisting of a long series of meaningless numbers and letters, and the user can use this address to send and receive TT. However, to use the social functions on the chain, the user must create a nickname for the address, which is used to allow fans to perform various actions on the TokTok social network.

In order to prevent malicious users from creating unlimited accounts on the chain by continuously generating private keys, the platform adopts the form of number NFT for user management. Users who hold number NFT will be able to enjoy all the functions of the platform, and those who do not hold number NFT can only watch videos ; In addition, creating a nickname requires a fee of $1.5. Users can modify the nickname multiple times, and each modification of the nickname will consume a fee of $1.5.

6.TOKTOK's partner

1. Strategic partners: SupraOracles official, Metis official, GFTMeta

Community and media: including Twitter, Discord, Telegram, the most commonly used social platforms for Web3 users, YouTube, the video platform, and A16Z, a well-known investment institution, etc.

2.Ecological support: Among TOKTOK's ecological support partners, there are also familiar old faces such as Binance, MetaMask , and Amazon.

7.Future planning of TOKTOK

TOKTOK conducted an angel round of financing of US$ 2 million in June 2022 , led by a well-known social investment institution. At the same time, it plans to conduct a Pre-A round of financing of US$ 10 million in May 2023 .

8.Summarize

The prosperity of the Web2 short video industry fully proves that short video social networking is indeed a "gold mine" worth mining. The optimism of many Web3 users on the SocialFi track also shows that the current Web3 really needs a " TikTok " to expand its territory.

With the popularity of Damus first, can TOKTOK work with him to make the "cake" of web3 social networking, and make SocialFi detonate Web3 like the previous NFT? Let's be skeptical for now.

But what is certain is that no matter which track's products, users are its fundamental lifeblood. And in order to continue to have an influx of new users on the basis of a stable original user base, the product itself is excellent and excellent marketing is an indispensable key element. TOKTOK's vision is good enough, and the next step is to see whether the realization of the product concept and the marketing of the product are as resistant as it says. Whether to create a tuyere or become a pig on the tuyere, we will wait and see.