We held a live AMA with Founder, Jure Zih from Clout.art on 8th October 9:00 PM (UTC+8). Here’s the recap for those who missed it.
Mika | Shin Chan: Before AMA start, can you introduce yourselves and the team background?
Jure: Sure thing! I’m in crypto space since 2017, but generally like to think of myself as a product and team builder.
In 2018 I co-founded a company that built the first NFT protocol for authentication and certification. We worked with the lead author of ERC-721, as he was also our head advisor.
Then I (unsuccessfully) launched a few projects that used NFTs, but it was really hard getting investors interested 2 years ago — no one thought you could sell jpegs for that amount of money 🙂
With Clout.art we’re now using NFTs as the value containers for creator economy. But can share more on that later 👍
The team is very diverse, but most of us are from Slovenia. 13-head strong, 6 devs, but overall, more than 30 people involved in this project. We started big and intend to keep going 🚀
Mika | Shin Chan: Do u have any upcoming news or events that the community need to keep an eye on?
Jure: We just recently launched our token SWAY on Gate.io, but for the next couple weeks we have all sorts of partnerships to announce and new features to introduce.
AMA Twitter Section Begins:
Q1: Does Clout Art obtain copyrights and legal power when we digitalize our content from social media? Is it possible for Clout Art to collect such content outside of these social media platforms? Can you elaborate on your legal and copyright concerns?
Jure: No, not at all. We never touch your content. We help you mint it, apply the creator score, store it on IPFS and our decentralized contracts turn it into an NFT. That NFT lands into your wallet directly. So legally, it’s always with you.
Right now we’re focusing only on social media content from creators/influencers who have an existing social media account. Keep in mind — we’re not a social media NFT platform, instead we work with existing platforms like Instagram to help creators monetize their content. That’s why it has to exist on social media before.
As somebody who offers a service of minting and listing an NFT from your own content, we don’t take any % from your sale or charge anything at all. In fact, we even allow you to mint an NFT for free to make it really easy. As far as we’ve checked, there are minimum liabilities with the model we have now. The control over copyright is completely on the user.
Q2: Currently there is a lot of plagiarism on Social Networks/Other Social Media, regarding published posts,
So, how does Clout Art “ensure” that the content uploaded by users really belongs to them? Do you have a mechanism responsible for tracking possible duplication of works?
Jure: Great one! No, we don’t have a anything similar in place now, but plan on enabling that in the future. Mind that any content that exists as unoriginal on Instagram is already violating their terms.
The value on our platform will be derived by the Clout.art score and Creator score. That will be a very important metric. However, for any valid claims against creators, we are able to freeze their NFT and close his account.
Q3: Before joining Clout Art and being able to turn their Instagram posts into NFTs, will it be neccessary to go through any kind of KYC/AML process? Or will users be able to join the platform by creating their own accounts as it happens on regular social media apps?
Jure: That’s actually the beauty of our platform. 🙂 No KYC/AML. To log in, you have to do 2 things — sign in with your Metamask and connect with your Instagram profile. So anyone who has an Instagram profile is able use this right away 👍
If you stick around until the end, I’ll share the access link — the platform is already live, just not published yet 😉
Q4: What is the minimum number of engagement required to convert our posts into NFTs? Do you intend to form collaborations with celebrities? Wouldn’t their NFT posts be extremely valuable?
Jure: They would! Exactly! That’s why we’re already talking to some of them 😉
To mint a post, you need to have at least 3 mo. old profile and at least 150 followers. If you have that, you’re good to mint right away 😉
Q5: In the same way that traditional social networks like Instagran, Youtube and Tik Tok have some restrictions and penalties with certain content of publications? If so, what will be the content that will be penalized?
Jure: Hmm… that’s a good question. It boils down to how is content in Web3 understood. We don’t “own” the content. We never touch it. We only provide 1) a decentralized service to mint it and 2) a marketplace to showcase it — but that’s nothing special, as they immediately start existing on Open Sea as well.
What we’re leaning towards is finding a good mechanism to delist bad items and block bad actors. Once the NFT exists, you can’t really delete it anymore 🙂
But we’ll see how that goes in the future 👍
Telegram Live AMA Begins:
Q6: Are there any fees we have to pay when we want to convert our Instagram posts to NFT? And are there any rules or requirements for this?
Jure: No, none at all. Minting is completely free, we have received a development grant from Polygon and that was allocated to cover all NFT minting fees.
Q7: What features does the $ CloutArt token have? Are there any benefits to $ CloutArt token holders?
Jure: Yes, of course. So the main objective of the $SWAY token is to be used for staking with creators. Clout.art runs on a decentralized protocol called Sway Social (https://swaysocial.org) and helps creators establish the own creator economies in a decentralized space. But the token will also be required to mint NFTs and as a governance tool in the future.
Sway Social Protocol (https://swaysocial.org/)
Q8: Do you have any plans or strategies to teach non-crypto users how NFTs work so they can be motivated to monetize their content with Clout.art?
Jure: Yes, this is an important part of what we’re doing. Education is really important for non-crypto people. We live in a bubble thinking that everyone will understand what Metamask is 😂 That’s also why we’re implementing solutions like Tor.us to make key mangement easier for users.
Q9: While reading the Whitepaper , I Found about the “CLOUT.ART SCORE” ,Can you tell us more about this Score , How this Score is Calculated , and It can be changed or not ?
Jure: Each NFT, minted via the Clout.art platform will receive a one-of-a-kind score called the Clout.art Score. It will determine the value of a post based on its age, likes, and comments, among other relevant factors. The idea is to look at the score and get a better feeling for the value of the post/NFT
Q10: 🔵 What is the contribution of DCSP private pools to stakers? How will platform users leverage DCSP pools when they stake their native tokens?
🔵 I’ve read that those with the SWAY token will benefit from voting and encouraging positive behavior. How will positive actions be rewarded?
Jure: That is a great question! The first version of staking pools should be available really really shortly. Users will be able to stake SWAY with their favourite creator and consequently receive rewards when he/she sells an NFT.
Positive action revolves around what is good to the platform or to the creators. If you stake more, you get more. But also, if you mint more, you get more. That’s still a concept, but we like to call it mint to earn
Q11: Could you please give details on the mode of payments involved to purchase these minted posts?
Jure: Right now you can only purchase these posts with Polygon. Next step is to make this available via bridge for USDT/USDC/ETH and across different chains. Last one is credit card. But that probably comes in next year.
Q12: 💢Can you explain about key requirements for minting in CLOUT.ART platform??
Jure: You need to have a connected Instagram profile that is older than 3 months and at least 150 followers
You need to mint a post that will achieve a clout.art score of at least 10
Q13: If I’m new to clout.art and want to learn how to buy $SWAY quickly and easily.Where can I get it?
Jure: If you want to go really deep into the dyanmics of our token model, you should check this out https://swaysocial.org
Sway Social Protocol (https://swaysocial.org/)
Q14: Where can we buy CloutArt ?
Jure: Let’s finish with this question: CloutArt is not the token. The token is SWAY and you can get it on:
- Gate.io https://www.gate.io/trade/SWAY_USDT
- QuickSwap https://quickswap.exchange/#/swap?outputCurrency=0x262b8aa7542004f023b0eb02bc6b96350a02b728