Why Now?

Rising Interest in Crypto & Blockchain

Cryptocurrencies and blockchain technology have been making waves in the financial and technology industries for the past few years. The potential for these innovative technologies to revolutionize our lives is immense, and it is no surprise that more and more people are becoming interested in them.

Namely, there has been a burst of interest in projects focused on DeFi, GameFi, decentralized storage, digital collectibles (NFTs), and social networking. As we transition from Web 2 protocols that lacked the capacity to support these areas of focus, to the emergence of Web 3 where support is heightened, it is inevitable that the populous will embrace these new iterations.

Emergence of Web 3

Web 3 is gaining in popularity due to its secure and private architecture, which makes it an attractive option for developers and users alike. As the technology continues to evolve, it is likely that its popularity will only increase.

“Web3 engagement allows an organization to scale up massively by creating value going back to the contributors. Giving back to certain causes today isn’t just about dropping money in a jar and hoping it helps. Web3 enables transparency, allowing people to understand where their money is going, while also participating in a greater way.” -Rachel Wolfson

Chayn's business model and tokenomics are possible through a web 3 powered ecosystem. Web 3 is value adding to social because it properly accentuates the value in content which is certainly worth more than a "like". As more content creators, influencers, and viewers learn the value of content & data ownership, Chayn will seek to become a hub for their social experiences. We believe this collaborative journey will help lead to a maximized web 3 experience throughout the Chayn ecosystem.

Exponential Growth in Content Creators

The creator economy has blossomed since 2020 and is currently estimated at over $100 billion. This surge in growth has been driven by the amalgamation of e-commerce, social media, online communities, and the advent of Web 3.

Adobe conducted a study called 'The Future of Creativity' and revealed that approximately one-quarter of people in the countries studied are active contributors to social media. Beyond that, more than half of these creators started posting on social media platforms within the last two years. Brazil, Spain, and South Korea are the countries with the highest number of creators while the United States, Brazil, and Germany have the largest creator populations.

Content creators come in many forms such as musicians, writers, photographers, podcasters, public figures, or even general influencers. They are often the bread winners of the social platforms, but all too often, the social giants serve as gatekeepers between the content creators and their followers, creating limitations on the creators' ability to monetize their likeness.

Chayn fully supports creators and will empower them to openly engage their followers in a manner that does not stifle their creatives or earnings generated from them. Features that will support creators on the Chayn platform are gated content, sentiment tags (NFTs), music remixing, profit sharing, and mining Chayn tokens. We believe our reward systems are unrivaled and forward thinking which is needed to match the evolving dynamics of social media to date.