Afterparty Launches Web3 Platform to Usher in New Creator Economy
LOS ANGELES--(BUSINESS WIRE)--Aug 19, 2021--
Afterparty announced today the debut of its creator tools platform built for creators launching NFTs and social tokens amid the growing Web3 boom. With Afterparty, creators can monetize and manage their NFT and social token collector relationships by delivering interactive, live virtual experiences and digital merchandise exclusively to their biggest supporters, giving creators more direct control over their growing success.
“The true value for creator NFTs is going to be built through ongoing engagement between creators and supporters—this comes after the NFT or token sale,” said David Fields, co-founder and CEO of Afterparty. “Until now, creators haven’t had the tools they need to effectively build and manage this ongoing dialogue, with other platforms putting the burden solely on creators to develop the entire fan experience from scratch. Afterparty is building on the Web3 monetization infrastructure of NFTs and social tokens to align interests of creators and fans in a completely new way.”
Web 2.0 platforms, like Instagram, share zero advertising revenue with creators and restrict their direct monetization while platforms, like Spotify, support only 13,000 creators making over $15,000 a year in net payments to the artists. Web3 tools, like NFTs and social tokens, decentralize Web 2.0 monetization models so creators can monetize directly with their biggest supporters and fans can see the value of their tokens grow as the creators succeed.
Merges Web3 Capabilities for Interactive Experiences
Afterparty allows creators to choose from Ethereum, BitClout and other emerging blockchains for their NFT or social token release to host “token gated” virtual experiences and sell exclusive merchandise available only to their dedicated fan communities. With Afterparty’s soon-to-debut Ethereum-based NFT marketplace, creators will be able to launch NFT projects in minutes and choose from a variety of professionally designed NFT frameworks. This gives creators visually stunning, one-of-a-kind NFTs that are authentic to their individual brand identity and connect seamlessly to the Events Platform.
“Releasing NFT collections to show fan appreciation unlocks a new medium for artistic expression,” said Dutch artist Nick van Hofwegen, who is the creator behind NFT music and art project Young & Sick. “As an artist, I’ve seen the value NFTs can have on the music industry but more importantly on individual artists looking to create something different and unique for their fans. By combining digital art with live events and providing the marketplace to connect digital artists with creators, Afterparty is making it easy to manage the entire process.”
BitClout Beta Test Outperforms Expectations
Afterparty successfully launched and tested its Event Platform with creators who used BitClout’s social tokens and these early tests are already showing the value in this new monetization model. Artists Clay Perry and Tropix increased the value of their social token by $4.75k and $10k, respectively, and received $500 and $1,000 in direct income from their first events. Other creators who participated in the events include Echosmith, Madds, Robert Graham, Jon Youshaei and Vale Genta.
“Bringing in over a thousand dollars for a single online appearance is a huge deal to an emerging artist,” says Craig Clemens, one of the top active creators on BitClout, founder of Golden Hippo and an investor in Afterparty. “If you take Clay Perry and Tropix, two early users, and work out what they would make in annual income if they did this just once a week, it’s enough for a comfortable life. And this is only the beginning.”
With the concept now fully tested and proven, Afterparty is hosting more events with BitClout creators, including Reade, Craig and Jake Udell, all top 10 creators on the platform, and having already integrated with Ethereum, will host an event with Young & Sick and other creators to be announced in the coming weeks.
Founded By Creators, For Creators, Joined by Veteran Entrepreneur
Founded by David Fields, formerly of Disney and head of investments at Michael Eisner’s The Tornante Company, and Dan Rahmel, senior technology executive at Music Audience Exchange, Afterparty has creator, music and gaming experience written into its DNA. Robert Graham, creator and Influencer agency founder, serves as head of community with musician Conner Frey (cozyboy) as front-end developer.
Afterparty also announced today Eytan Elbaz, co-founder of Scopely, LA-based mobile gaming company, as its co-founder and investor. As a musician himself, he sees how Afterparty can drive the new music and social token economy.
“Web3 is enabling high-value digital assets like NFTs, and I am incredibly passionate about their future role,” says Eytan Elbaz, co-founder of Afterparty. “NFTs are at a critical inflection point where utility and experience around digital assets will take the industry in a whole new direction. Afterparty has already executed on its promise to provide the platform to do this and is a clear leader in this space.”
“We are at the beginning of a shift for the creator economy with Web3 that is going to be as significant as the impact of broadband internet on Web 2.0—and this is just the beginning of our vision for Afterparty,” added Fields. “NFTs are verifiable digital assets that today with Afterparty are unlocking experiences in the virtual world. We see them opening the door to powerful real world experiences as well and are excited to keep pushing the boundaries of what NFTs can do for both creators and supporters.”
How to Join the Movement and More Events
To join live music events on Afterparty, visit www.afterparty.ai. Afterparty’s NFT marketplace will launch concurrently with the overall platform and will be fully available this Fall. Join Afterparty’s creator waiting list, head to www.afterparty.ai.
Afterparty is a technology company dedicated to developing Web3 capabilities and a platform to launch a new creator economy. Founded and managed by entrepreneurs who are equally technology- and music-focused, Afterparty is committed to providing the most powerful Web3 tools that help creators build and maintain meaningful relationships with their fan and supporter communities, including an NFT marketplace through which creators can offer NFT collections. Afterparty’s platform also gives creators the ability to host intimate, live experiences to their most dedicated fans and create exclusive NFT tokens.
Co-founded by Dave Fields (CEO), Dan Rahmel (CTO), and Eytan Elbaz (CSO), the senior management team also includes creator Robert Graham (Head of Talent) and musician Conner Frey (cozyboy) serving as front-end developer. Their vision for the company is to merge their knowledge of the creator, music, and gaming industries and launch products that help creators build deep and authentic connections with their biggest fans. For more information about Afterparty, please visit www.Afterparty.ai.
View source version on businesswire.com:https://www.businesswire.com/news/home/20210819005609/en/
CONTACT: Lindsey Henn
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: INTERNET MUSIC GENERAL ENTERTAINMENT TECHNOLOGY EVENTS/CONCERTS ARTS/MUSEUMS OTHER TECHNOLOGY ENTERTAINMENT
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PUB: 08/19/2021 11:54 AM/DISC: 08/19/2021 11:54 AM