Core Functionality
- Token Minting Wizard: Guides creators through creating a unique token for a project (e.g., upcoming music EP, art series). Includes metadata, royalty split, and vesting schedule.
- Marketplace Dashboard: Displays available creator tokens, price history, volume, and current holders. Users can buy/sell tokens directly within the app.
- Portfolio Tracker: Shows each user’s token holdings, unrealized gains/losses, and projected royalties.
- Royalty Distribution Engine: Automatically calculates and distributes earned royalties to token holders based on their share when a creator monetizes content (e.g., streaming revenue).
- Community Insights: Integrates social media metrics to help creators gauge demand before minting.
Problem It Solves
Many creators struggle to monetize early‑stage projects and keep fans engaged. Traditional crowdfunding requires upfront funds, while later revenue often bypasses the community. CreatorCoin provides a low‑friction way for fans to invest in future content, giving creators immediate capital and a built‑in loyalty program.
Technical Requirements
- Blockchain SDK (e.g., Polygon SDK): For minting ERC‑1155 tokens and handling royalty logic.
- Web3 Wallet Integration: MetaMask or Coinbase Wallet for user authentication and transactions.
- Node.js + Express Backend: To serve APIs, handle royalty calculations, and manage off‑chain data.
- React Native Frontend: Cross‑platform mobile app with intuitive UI components.
- Cloud Database (e.g., Firebase): Store creator profiles, token metadata, and portfolio snapshots.
Monetization Strategy
- Listing Fee: Charge a small flat fee ($2–$5) when a creator lists a new token on the marketplace.
- Transaction Fees: Take 1‑2% of each trade executed through the app.
- Premium Analytics Pack: Offer advanced market analytics and forecasting for creators on a monthly subscription ($9.99/month).
- Advertising Partnerships: Allow music labels or art platforms to sponsor token listings.
Implementation Approach
- Week 1–2 – MVP Scope & Design
- Wireframe key screens (Minting Wizard, Marketplace, Portfolio).
- Choose Polygon as the base chain for low gas fees.
- Week 3–5 – Backend Setup
- Scaffold Express server with endpoints:
/mint,/list,/trade,/royalty. - Implement smart contract deployment script using Hardhat.
- Week 6–8 – Frontend Development
- Build React Native app, integrate Web3 wallet via
web3-react. - Connect to backend APIs and blockchain contracts.
- Week 9 – Testing & QA
- Unit tests for smart contracts (Mocha/Chai).
- End‑to‑end UI testing with Detox.
- Week 10 – Launch Beta
- Invite 50 creators to mint tokens and list them.
- Collect feedback, iterate on UX.
Potential Challenges
- Smart Contract Complexity: Ensuring royalty logic is correct and secure. Solution: Use audited libraries (OpenZeppelin) and conduct third‑party audits before launch.
- User Onboarding with Web3: New creators may find wallet setup intimidating. Solution: Provide a step‑by‑step in‑app wallet creation wizard and fallback to email‑based custodial wallets for beginners.
Future Expansion
- Cross‑Chain Compatibility: Add support for Ethereum, Solana, or Binance Smart Chain.
- NFT Staking & Yield Farming: Allow token holders to stake for extra rewards.
- Creator Collaboration Pools: Enable multiple creators to co‑mint a shared project with revenue splits.
- AI‑Driven Demand Prediction: Use machine learning on social media data to forecast token performance.