EmpoweringCreatorsonTheta

Watch, Engage, Empower – Pay as You Go!

This project provides users with the ability to monetize their videos easily with advanced Features powered by Token Bound Accounts.

List of deployed contracts

1. Token Bound Accounts Deployment on Theta Testnet

• ERC6551 Registery - https://testnet-explorer.thetatoken.org/tx/0x59d1f17f57d65d3e0608595ae0e53422d2cadfec1632ba389d02adb36a2965ff

• V3 Account Proxy 0x55266d75D1a14E4572138116aF39863Ed6596E7F

• V3 Account Implementation 0x41C8f39463A868d3A88af00cd0fe7102F30E44eC

2. CreatorRegistery - 0xB2fD6d7F8ffC752782E7959B385951c8914E1082

3. VideoNFTCollection - 0x1BFd51216dC4c9d316be32C4F2E7027d5DaF3543

4. VideoNFT - 0xeC971D4C0C1c34336ACdC82235025419CAd32f27

5. VideoNFTPlatform - 0x6d1606DF729624FCA861F0A8E76b6f4740fD2539

Platform Functionality from Users' and Creators' Perspectives

From the Users' Perspective:

1. Viewing Previews:

   • Users visit the platform and browse through various video previews without any access restrictions.
   • Previews help users decide whether they are interested in the full content.

2. Purchasing Full Videos:

   • Users can choose to purchase access to the full video. They only need to pay 70% of the listed price upfront.
   • The payment is processed, and an NFT representing the full video is minted and transferred to the user.
   • Users now have access to the full video through this NFT.

3. Optional Additional Payment:

   • After watching the full video, users have the option to pay the remaining 30% if they found the content valuable.
   • This flexibility allows users to feel more in control of their spending and incentivizes creators to produce high-quality content.

4. Platform Fee:

   • A 5% platform fee is deducted from every payment, which supports the platform's operations and development.

From the Creators' Perspective:

1. Registration:

   • Creators register on the platform by submitting their name, image URL, and bio.
   • This registration process ensures that users can identify and trust the creators.

2. Uploading Content:

   • Creators upload their videos, including a preview and full version, along with a title, description, and pricing information.
   • The platform mints an NFT for each video, storing metadata such as URLs for the preview and full videos, title, description, and price.

3. Creating Collections:

   • Creators can create new collections for their videos using the VideoNFTCollectionFactory.
   • Each collection is deployed with a predefined contract address using the CREATE2 library, ensuring unique and predictable addresses.

4. Monetization:

   • Creators receive payments directly to the token-bound account (TBA) associated with their NFTs.
   • They can monitor their earnings by checking the balance of each video NFT address, which represents the revenue generated by that specific video.

How the Platform Earns Revenue:

1. Platform Fee:

   • The platform earns a 5% fee from each transaction. This fee is deducted from the payments made by users to access the full videos.
   • The remaining 95% of the payment goes directly to the creator's token-bound account.

2. Token Bound Accounts:

   • Payments are processed through token-bound accounts (TBA), ensuring that funds are securely and transparently managed.
   • Each video NFT has an associated TBA, making it easy for creators to track their earnings.

Benefits for Creators:

1. Flexible Pricing:

   • Unlike traditional models where users had to pay the full price upfront, creators can now offer a more flexible payment structure.
   • Users only pay 70% upfront, with the option to pay the remaining 30% after watching the video. This can lead to higher engagement and conversion rates.

2. Increased Transparency:

   • Creators can easily track the performance of each video by checking the balance of the corresponding NFT's TBA.
   • This transparency helps creators understand their revenue streams better and make informed decisions about future content.

3. Enhanced Monetization Opportunities:

   • The flexible payment model incentivizes creators to produce high-quality content, as users are more likely to pay the full amount if they are satisfied with the video.
   • This model can potentially increase the total revenue for creators compared to a fixed-price model.

How Token Bound Accounts Work:

1. Payment Processing:

   • When a user makes a payment to access a video, the funds are directed to the TBA associated with the video NFT.
   • The platform automatically deducts the 5% fee and transfers the remaining 95% to the creator's TBA.

2. Revenue Tracking:

   • Each video NFT has its own TBA, which accumulates the revenue generated by that video.
   • Creators can check the balance of each TBA to see how much revenue each video has earned.
   • This granular level of tracking allows creators to understand the financial performance of their content more accurately.

Example Workflow:

1. User Payment:

   • A user decides to purchase access to a full video and pays 70% of the listed price.
   • The platform processes the payment, deducts the 5% fee, and directs the remaining amount to the video NFT's TBA.

2. NFT Minting and Transfer:

   • The platform mints a new NFT for the video and transfers it to the user.
   • The user now has access to the full video through this NFT.

3. Optional Additional Payment:

   • After watching the video, the user has the option to pay the remaining 30% if they found the content valuable.
   • This additional payment is also processed through the TBA, ensuring that the creator receives the funds directly.

4. Creator Revenue Tracking:

   • The creator checks the balance of the video NFT's TBA to see how much revenue the video has generated.
   • The creator can withdraw funds from the TBA as needed, allowing for easy and transparent access to their earnings.

This comprehensive system not only enhances user experience by offering flexible payment options but also empowers creators with better monetization opportunities and transparency into their earnings.