Gamium: Monetizing Social Influence
Gamium is a new decentralized SocialFi platform in the Web3 space. It allows users to create their own social tokens, called MST (Metaverse Social Tokens), to support influencers and earn returns based on their success.
The SocialFi sector has emerged from the synergy of social platforms and decentralized finance, aiming to provide genuine freedom in response to the censorship prevalent in today's social networks. Currently, this field is capturing significant interest from both Web3 users and investors. In 2023, projects like Friend.tech, Open Campus, Hooked, and Lens Protocol attracted approximately $3 billion in investments, as reported by Verified Market Reports. Analysts forecast exponential growth in the decentralized social finance market by 2030.
Gamium leverages virtual reality to host a variety of events, including group games, concerts, presentations, and conferences.MST holders and creators can create their own private spaces within the platform, where they can interact, brainstorm new ideas, and discuss current issues.
This distribution model provides decentralized and democratic governance of the platform while ensuring it meets its users' needs.
What is Gamium?
Gamium is a Web3 protocol on the Binance Smart Chain, enabling users to invest in public profiles on X (formerly Twitter). This platform allows supporters to use MST (Metaverse Social Tokens) to back their favorite creators, granting them benefits like access to exclusive posts or products. This setup allows artists, crypto analysts, top project managers, gamers, and other content creators to directly monetize their social influence without relying on advertising integrations or platform commissions.
In addition, subscribers can initiate the creation of people tokens to assist content creators who are unable to produce content due to various circumstances. For example, a request was approved to launch a token named SBF in honor of the imprisoned Sam Bankman-Fried.
Any verified profile on X can be tokenized. Source: Gamium
Tokens created on the platform can vary in characteristics including their name, symbol, and the total issued (capped at 1 million tokens), along with their distribution principles. MST are linked to any X accounts, offering users utility benefits like special content, interactions, or VR meetings with the star, as well as financial gains from the appreciation of the token.
The founders of the project assert that all celebrities will have their profiles on the Gamium platform, with notable personalities like Elon Musk, Michael Saylor, and CZ already registered. Within the first three days of testing, approximately 2,000 people tokens were launched.
People tokens are already traded on the platform. Source: Х
Gamium also functions as a decentralized exchange (DEX), where users can trade MST among themselves, enhancing the liquidity of the tokens and facilitating their use as a medium of exchange within the project's ecosystem.
Creators with tokenized profiles can create an entire economy around their accounts, involving the formation of liquidity pools, distribution of earned income, granting access to exclusive content, and organizing virtual meetings with donors in the Metaverse.
MST and the 3D Environment
The developers of Gamium place significant emphasis on the 3D environment, convinced that true community engagement cannot be achieved without the use of immersive technologies. The project's whitepaper states, “Metaverse becomes a favorite option for companies for a simple reason: such engagement significantly increases conversion and monetization. With the advent of the metaverse, 3D gamification has changed the rules of the game in marketing.”
Gamium leverages virtual reality to host a variety of events, including group games, concerts, presentations, and conferences.MST holders and creators can create their own private spaces within the platform, where they can interact, brainstorm new ideas, and discuss current issues.
Access to these events can be purchased using tokens generated on the platform.
Currently, Gamium is in its testing phase, and some features are not publicly accessible yet. This presents an opportunity for users to earn points by testing the platform, which will later be converted into tokens during an airdrop.
During the beta-testing stage, joining the project is only possible through a referral code from an existing participant.
MST Tokenomics
MSTs are ERC-20 tokens on the BNB Chain blockchain.Each Gamium MST can be launched with a limited supply of 1 million tokens. Of these, 10% automatically goes to the account owner who initiates the MST. If subscribers initiate the token launch, the content creator receives 9.75% and the creators receive 0.25%.
The developers claim that the tokens will adhere to a deflationary model, with MST being burned with each transaction. This mechanism is designed to maintain price stability.
Additionally, Gamium token holders will benefit from:
- Passive income through a share of transaction fees if they own at least 0.25% of the token supply;
- A 0.5% commission from transactions made by their referrals;
- Voting rights on future platform developments;
- Exclusive access to virtual meetings with content creators.
Could the project face SEC scrutiny for selling unregistered securities? This risk could arise if regulators focus on token holders receiving dividends based on influencers' social success rather than the utility of MSTs.
However, such regulatory challenges need not spell disaster for the project. According to Ki Young Jo, CEO of CryptoQuant, most crypto tokens already operate according to the principles of securities, such as stocks, and this is not something to be afraid of:
“The industry should accept this and create rules for these new securities instead of denying their nature. Well-regulated crypto tokens wouldn't need utility; crypto would simply be another means of public funding.”
