Launchpool x Clout.art AMA Summary
Date & Time: September 10th, 12:00 UTC
Guests: Jure Zih (Co-Founder and CEO)
Host: Jean-Marc (Launchpool Social Media Manager)
Launchpool was excited to host Jure for an interactive Ask Me Anything session with the Launchpool Community. The AMA comes in anticipation of Clout’s $250k Allocation Mining Event on Launchpool coming Monday September 13th. The session lasted for 1hr, and consisted of questions from the Launchpool Team and questions from the community.
Questions from the Launchpool Team:
Jean-Marc: Hello LPOOLers, As many in our Community already know, Clout.art will be our next Allocation Mining Event. Clout.art enables you to turn your most valuable content, such as your most successful Instagram posts, into unique NFTs.
In anticipation of this, today we have Jure, Co-Founder and CEO of Clout.art joining us for an AMA live NOW! As always, the chat will be muted for roughly 30mins whilst we ask the pre-prepared questions. After this we will open up to questions from the Community for 15mins or so.
Hello Jure great to have you with us today!
Jure: Hey Jean-Marc and hello to the community! Really great to be here!
Jean-Marc: To kick things off — could you please tell us a bit about yourself, your background and your involvement within the space.
Jure: Sure, would love to!
I’ve been in the NFT space since the very beginning. In 2018 I was a co-founder of a company that built the first protocol for NFT validation and authenticity, and a dev framework for building NFT Dapps. We worked closely with the lead author of the ERC-721 standard to bring that to life and enable anyone to deploy smart contracts without any in-depth knowledge of Solidity.
After that I went solo and started Veebo, with intention to build a digital merchandise e-commerce platform for monetising fandom through NFTs. But, funnily enough, 2 years ago, nobody believed you could sell a jpeg for $100, let alone $69M 😂
Now with Clout.art, and an amazing team, we’re building a sustainable content-value model for future creator economies with the help of NFTs. 🚀
This is really good to know. The ERC-721 standard has certainly been the go to for NFTs and it’s great to hear that you have experience within the space, long before NFTs were a thing….who knew the power of the jpeg 😂
Could you tell us about the rest of the Team? (backgrounds, experience, etc.)
Would love to! We’re a mixture of youth and experience 😄
Nejc, who is head of development is the youngest on the team, but a prodigy full-stack developer in web and mobile. He co-founded and built one of the biggest student apps in the region and worked on professional aviation software solutions before.
On the blockchain side we’re working with Josh Smith, a veteran blockchain engineer and founder at BlockWell. He conducted token audits for over 12 top tier exchanges and has issued over $100M tokenized assets.
On the product, we have Krešo Gotovac, who has advised startups and corporations and most recently led operations for a VC fund and product discovery for several startups. He built product for the likes of Liverpool FC, Borussia Dortmund and the Italian Soccer League.
Advisors are all domain experts. Like Jasmin, who is Head of Insights for a top-tier social media agency Share Creative from London. Or Angus O’Callaghan on the financial and DeFi modeling side, coming from a background of TradFi (Deutsche, JP, etc.).
So it’s really about diversity in the team. And we’re fully decentralized!
This is excellent! The combination of youth and experience is ideal for the space.
Can you tell us, what problem are you trying to solve with Clout.art? What is the overall vision for the project?
First and foremost, we want to help creators in monetising their content. When it comes to Instagram specifically, we all sit on endless amounts of content that is just stuck in our timelines. We believe Clout.art can help creators breath new life into their long forgotten posts by turning them into NFTs and making them available on an open marketplace.
Secondly, it’s not about the creators alone anymore. With Patreon, but later with Onlyfans as well, it’s become obvious that there is a special relationship between creators and fans where both can benefit. NFTs are an important enabler in that and with Sway Social protocol, that is the backbone of Clout.art, we’re allowing fans and followers to also participate in this economic model.
What an interesting concept. I recall reading Jack Dorsey selling his first ever Tweet for $2.9m…what a way to unlock that potential for Instagram and earn a passive income from your content!
Can you explain, how are you differentiated from other similar projects?
Depends on what level. But in majority, we are not a social media or social network NFT platform. While we really love some of the projects in this space, it’s probably one of the hardest things to build a social network or a completely new platform.
People who have been building their communities for the last ten years are probably not going to abandon them and join a novel crypto app just because it has NFTs 😄
Our goal is to work with existing platforms, to sit on top of Instagram, TikTok, Youtube… Work your communities, serve the content and then monetise it. It doesn’t get easier than that.
We’re the monetisation layer that sits on top 😉
Sweet! An easy task for the end users but I’m sure it requires a bit of work from your Team.
Please tell us, where are you at in your roadmap? Could you please talk us through the next steps?
Sure! Our public version is already LIVE and as we speak, first airdrop participants are onboarding and minting their first NFTs. We decided to do the big announcement with the actual TGE later this month.
So, next up for us, end of September, is the TGE and the big launch. But Q4 will be really interesting! Starting with creator pools and creator staking.
In OCT 2021 continuing with a v2.0 version that will be even more non-crypto friendly.
Later this year expanding to Youtube and TikTok… and then introducing the mobile app version as well.
So we’re in for an interesting Fall/Winter season 😉
Our Community will be eagerly awaiting.🚀
How was the project funded up to this point? How will the funds from the AME be used?
We are raising a total amount of $1.4m with the token sale and our private round has just recently been successfully closed. Our seed was closed back in June.
The AME funds are going to help us establish a strategy around the token and drive the marketing for the project forward.
A lot of work is needed to get the non-crypto users onboard, but we’re well equipped to get that done. 🚀
Are there any strategic partners (excluding Launchpool) that you can share?
We were actually very selective about where to do the launch, and what was special about Launchpool is the egalitarian approach. It’s important for us to work with the community on a fair and transparent basis.
The support we’ve been getting from the Launchpool team and community has been just amazing! Definitely the right choice!
What is the total allocation you’ve set aside for the Launchpool community? Are there any limitations or is the Allocation Mining Event open to everyone? Please list any countries that are excluded from the allocation event due to regulatory reasons.
The total set aside for Launchpool is 250k USDC as our total raise is not that big. Unfortunately we can’t work with people from Algeria, Bangladesh, Bolivia, Canada, Ecuador, Ethiopia, Iran, Macedonia, Morocco, Nepal, North Korea, Pakistan, People’s Republic of China, Sudan, Syria, Tunisia and USA.
Thanks for making that clear.
What happens after the AME? Could you talk us through the tokenomics: total supply, initial circulating supply, initial market cap, initial vesting, total vesting period (from launch until when will the last token be vested for), etc.
The total token supply is 200M SWAY, while only 100M will be initially minted. The remaining 100M will come in through creator adoption mining.
The initial token circulating supply is 3.4M SWAY and the initial market cap (excluding DEX liquidity) is $238,000. So a very small cap!
Everyone gets the same terms with vesting (apart from the team and advisors, who are locked for 1y and the get vested in 24 months). The vesting schedule for seed and private is 10% at TGE and 10% monthly for 9 months.
What are the use cases for the token? Do you have any mechanisms planned to support the DeFi component (staking, burning, earning, spending, etc?).
The Clout.art SWAY token is the basic functional unit of the Sway Social Protocol, its critical building block. Apart from governance and aligning incentives, SWAY is staked to replicate following:
- Content creators establish individual pools for their NFTs.
- Users stake SWAY tokens to the pools (content creators) they wish to support.
- Staked SWAY tokens share in the revenue generated from their specific pools.
Sway is a creator-owned, decentralized social media protocol that uses NFTs to translate social capital into an asset class.
I recommend anyone interested in the token to read through at https://swaysocial.org
Where can we join your community? (twitter/telegram/discord/etc)
All of our socials can be found here:
We’re a very vibrant community and welcome you all to join us 😉
Thank you, Jure, for taking the time out to share with our Community. We will now open the chat up for next 15mins to any questions.
Questions from the Launchpool Community
How do I participate in the $SWAY token AIRDROP and are there any unique conditions for doing so?
The Airdrop registration has already concluded. You can read more about it here https://clout.art/airdrop — right now we’re onboarding participants who have to mint an NFT on the platform to be eligible for the airdrop.
What makes Clout.art different from its competitors?
I’ve answered this above — but we don’t plan on building a whole platform. In short, we want to be the layer on top of existing social media platforms that help creators monetise their content through NFTs.
Tokenomics looks goods, what are the core use case of the token? Does the team also have intention of introducing token burn to reduce supply and also drive price up?
No, no plan to burn. But our creator staking mechanism is naturally introducing scarcity of SWAY 😉
It’s all about the community. Everyone now has the ability to stake with their favourite creators and get rewards with that.
You said that your platform will work on YouTube. How will this work? Video NFTs? It sounds interesting.
Yes, video is a content piece, just like a photo or carousel. So we can and will do any content piece eventually. We want to remain agnostic in terms of tech, because our goal are users and user adoption. In terms of vision and mission, it’s all about creators and their communities. Read more about our manifesto in our whitepaper!
Jure: Thanks for an amazing AMA! Don’t forget to join our community! 🚀
Launchpool leverages communities, knowledge, expertise, contacts and capital to provide crypto projects with the best possible start to life, maximising their chances for success in this fast moving & dynamic space.
Clout.art turns your most valuable content, such as your most successful Instagram posts, into unique NFTs. Your content becomes part of a valuable collection of assets and a source of income.