A Primer of Possibilities of BitClout

BTCLT and Creator Coins

There are two classes of tokens on the platform. BitClout is the platform, but also the name of the native cryptocurrency (BTCLT), which is basically what the whole platform is based on. Mario Nawfal says that “this helps fight against the high number of bots and spam that are common with other social media networks.” Don’t worry though, most trivial actions on BitClout, such as posting and liking, are essentially free. Signing up on the BitClout platform gives new users a starting amount of BTCLT, and more of this coin can be purchased on the platform with Bitcoin.

How do Creator Coins work?

Let’s say a user named Alice signs up on BitClout. When Alice initially creates her profile, there are zero “Alice Coins”, thus the price for purchasing her first coin is zero. If another user, let’ go with Bob, wishes to buy coins from Alice’s profile, the platform will create, or mint, the coins and sell them to Bob. The price per coin will increase based on a predetermined curve visualized below. Creator Coins are actually denominated in BTCLT, but are translated to US Dollars for simplicity.

Possibilities of Creator Coins

“There are so many great ways to incentivize investors with your own coin,” says Mario. You can limit the people who can send you messages or comment on your posts to those who hold a certain amount of your coin. You can also increase traffic to your profile by purchasing a more popular user’s coin in exchange for a “reclout”, or by “reclout-ing” a less popular user’s post if they purchase your coin. Moreover, you can create premium content to entice new investors and retain the ones you already have.

Mario says, “I communicate a lot and make myself available for my top investors.” Furthermore, he mentions that the key is to add value to your investors and followers, just like you would with any business. “With my incentives, I was able to raise $400,000 in four days, but that’s only the beginning,” -Mario

Future of BitClout

Mario believes BitClout is growing exponentially in 2021. “It takes time for people to get comfortable with new technology, but when they do, growth becomes exponential.” Mario Nawfal is not only focusing on getting investors, he’s also investing in others on the platform.

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