Although the current financing ecosystem for creative and artistic talent has surpassed traditional content monetization models in the past few years, the current solutions still favor a small number of creators who already have a large audience.

On Spotify, the top 43,000 artists (about 1.4% of the platform's artists) receive 90% of the royalties, earning an average of $22,395 per artist per quarter. The remaining 3 million creators, or 98.6% of artists, earn only $36 per artist per quarter. Established artists are more easily discovered by users, but for those with talent but limited audience resources, Republik is an alternative opportunity.

Republik was launched in November of year 22 as a social media network and content monetization platform, aiming to provide new opportunities for creators to maximize their value and establish thriving communities. By utilizing blockchain technology and smart contracts, creators and their audiences can participate and receive rewards through a range of interactive features on the platform.

Republik completed a $3.7 million seed round financing with a valuation of $75 million in March 2023. At that time, the alpha version had registered more than 85,000 users. On October 11th, Republik completed a $6 million seed round financing with a valuation of $75 million, with participation from OKX Ventures, HTX Ventures, 6MV, and others. Link Link

Drive the Creator Economy

The trustlessness of smart contracts paves the way for a more streamlined and efficient creator economy. By implementing smart contracts, Republik significantly reduces the incremental costs associated with task management, legal fees, and talent agency in traditional systems. As a result, creators can obtain value that was previously difficult to obtain in traditional systems.

Republik enables creators to retain a larger share of their income while holding platform shares through blockchain technology and decentralized finance. Its features include an efficient token economy supported by RPK (Republik token) and borderless transactions; gamified XP and airdrop systems that reward users at various levels within the platform; and a set of creator monetization tools. With these features, creators and their supporters have more power to collaborate and provide higher quality content, building sustainable careers.

Republik is committed to helping digital content creators and their audiences transition to Web3, freeing themselves from the constraints of traditional attention economics (unidirectional attention attraction model). Republik has built a social media platform that includes all the content discovery tools familiar to Web2 users, such as AI-supported homepage information flow, video stream, chat, challenges, and conversation features. In addition, Republik also provides a complete set of tools for creators to make money. Creators can choose the most suitable way to derive value from their content to maximize their earnings.

Republik ecosystem covers multiple aspects, including:

Transparent and fair economic system: Using a universal global currency, this helps creators better earn from their work while also allowing supporters to meaningfully participate.

传承证明和财富证明: Support creators to no longer be just a "charitable act", but can be displayed on the platform for others to see. Through transparency, a symbiotic relationship of mutual support is established between creators and their audience.

Trustless management of future value streams: The creator token utilizes smart contracts, allowing creators to manage future revenue streams without the need for trust. This provides a new way for creators and audiences to earn money.

Exposure and Talent Discovery: Provides an "arena" for multiple consecutive competitions, attracting and showcasing creators and ranking them. The rules of the competition are defined by creators rather than the platform.

Virtual Performance Platform: Provides a high-capacity central network suitable for large-scale audiences. There is also a decentralized peer-to-peer network suitable for more intimate events. The platform offers a variety of pricing formats so that creators can choose for themselves.

PRK Token Economics

The total supply of RPK is 3,000,000,000 tokens.

To generate creator tokens, PRK is required. The first approximately 50,000 creators will receive this feature for free, and a certain percentage of creators will always have access to it for free. Each batch (representing one percent of the potential total income of the creator platform) will be released after the previous batch of tokens has been sold out. All income generated by creators on the platform will be distributed as RPK rewards to creator token holders. RPK rewards accumulate in the form of creator tokens, which can be traded or destroyed if the owner wishes to withdraw dividend income.

The RPK rewards allocated to creators who still hold tokens will be directly deposited into their RPK wallets as income. 3% of the future revenue, representing 3%, will be donated to the operating platform to provide funding for the ecosystem's operations.

Due to the transparency of Republik, creators can use various meaningful parameters to sort and filter their messages, such as wallet balance: to see if users can afford to interact with them; user support history for creators: to filter based on users who have supported similar content creators in the past; and held creator tokens: to filter based on whether users hold the creator's tokens.

Incentive System

Republik rewards everyone in the ecosystem for the time spent interacting on the platform in a unique way. Republik rewards users at various participation levels (not just creators, but also viewers) for their contributions to the platform, allowing everyone to earn income by spending time interacting with content, recommending friends, and supporting creators:

付费内容：Pay-per-view content is a monetization tool on Republik that allows content creators to restrict access to specific video or photo posts.

Subscription: Content creators on Republik can offer their audience regular access to a curated content stream in exchange for regular payments in RPK tokens.

Unlock access to user profiles (after unlocking): With this monetization tool, content creators can set up advanced user profiles and provide exclusive content, interactions, or privileges to users who unlock access by paying with RPK tokens.

Unlock access to chat with users: This feature allows content creators to monetize access to chat with their followers.

The Republik reward system combines the interests of individual stakeholders with those of the platform, promoting cooperation and collective action. The system incentivizes users at various levels of participation, including creators and audiences, in a unique way. Users can earn tokens by contributing to the platform, such as interacting with content, referring friends, and supporting creators.

Users can use RPK to purchase creator tokens, which provide short-term economic support for creators and bet on their potential through dividend payments promised to be tied to their future income. By voting for their favorite creators, users can help them improve their rankings, win badges and rewards, gain more visibility in the application, and attract more supporters.

Each person (creators and supporters) will receive rewards for their active participation on the platform, such as voting, creating, or sharing content. These rewards will take the following forms:

XP: Everyone on Republik can earn XP. The amount of RPK a user receives depends on the proportion of XP they have earned compared to the total amount of XP accumulated on the platform. Airdropped RPK rewards are distributed at predetermined intervals.

Multipliers: Help creators accelerate their income and/or incentivize participation in special events on Republik by staying more active on the platform.

Badge: A social currency that represents participation milestones, providing holders with governance rights (such as selecting new special challenges, voting on competition dynamics), priority viewing of talent performances, events, and one-on-one meetings and greetings.

Creators, scouts, celebrity influencers, brands, and others will be able to launch competitions in the arena according to their own participation rules, including: format, type, duration, etc.; maximum and minimum number of participants (from 1v1 to thousands); public or private (invitation only); free or paid participation.

PRK Airdrop

To ensure the fair distribution of RPK, a predetermined token airdrop will be executed based on the XP earned by the user relative to the total XP accumulated by all users on the platform.

Platform Operation

If there is still a balance, it will be distributed to all token holders of the creators, not just supporters of specific creators. This distribution method provides a feedback mechanism that benefits all participants in the platform's development, depending on whether they support specific creators. This encourages more people to participate in the platform, enhancing the cohesion and sustainability of the platform community.

The Republik team stated that, given their extensive experience in brand sponsorship and hosting on-site events, there will be many opportunities to realize the monetization of legal tender outside of the platform. Specific opportunities to promote the monetization of legal tender include:

Popular content generated from challenges: Republik converts the most popular and well-received content from challenge activities into videos, and optimizes these videos for upload on other social media platforms such as YouTube, IG, Facebook, and Twitch to attract more users and performers back to the Republik ecosystem, while also generating additional fiat currency revenue for the platform.

Develop and distribute diverse content: The platform will utilize its rich and diverse content resources to develop and distribute various content formats, including displays, selected clips, collections of specific genres, tutorials, etc., to support marketing activities and target specific audiences and markets outside the platform, thereby obtaining higher advertising display costs (CPM) to generate additional legal currency income.

Brand Support: The platform will provide brand opportunities to discover and support talented creators. Brands can discover and collaborate with creators through the platform, thereby promoting their content and achieving more partnerships.

Sponsorship Challenges and Events: The platform will provide sponsorship opportunities, where brands can sponsor various challenges, competitions, arenas, and stages to gain exposure and promote their brand beyond the platform.

Finally, the platform will use a portion of the legal currency income obtained outside the platform to purchase RPK tokens and distribute these tokens to creators who generate monetizable content.

Team and Roadmap

Republik co-founder Daniel He is also the co-founder and former CFO of The Lo&Behold Group, as well as a medical doctor (with a PhD in medicine and a master's degree in emergency medicine), EMACP director, and economic advisor. He has experience in finance, pharmaceuticals, and manufacturing.

Republik claims to have a strong advisory team, whose members come from different backgrounds, fields, and professional domains, all of whom have accumulated years of experience in relevant fields or industries.

The chief advisor is Richmond Teo, the CEO and co-founder of Paxos Asia. Since helping to establish Paxos in 2012, Rich has collaborated extensively with participants in the blockchain industry. Prior to this, Rich was the head of hedge funds at Cedar Hill Capital and the Fig M&A team at Citigroup IBD, with over a decade of experience analyzing and investing in financial technology companies.

The test version of Republik platform is now online, providing services to a community of over 400,000 users. Airdrop rewards and monetization features will be deployed in the fourth quarter of 2023. In October, Republik users will receive RPK tokens airdropped based on their XP balance. According to the team's roadmap, PRK tokens will be listed on exchanges in November, and hot wallets will be integrated in December.

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