【ETHOS】web3 version of TikTok, in which Yusaku Maezawa is also an investor / "Watch2earn" and "Engage2Earn" to create a decentralized platform.
ETHOS is a web3 version of TikTok service. It became a hot topic after receiving investment from the "MZ Web3 Fund" run by Yusaku Maezawa.
Good morning.
This is Mitsui, a web3 researcher.
Today, I researched about “ETHOS”.
"Table of Contents"
1、What is ETHOS?
- How it works
- Token Economics
- Team
2、Has the web3 industry entered its second round of entrepreneurship?
What is ETHOS?
ETHOS is a web3 version of TikTok service. ETHOS is a web3 version of TikTok, which became a hot topic after receiving investment from the "MZ Web3 Fund" run by Yusaku Maezawa.
Through the "Watch2earn" and "Engage2Earn" mechanisms, ETHOS solves the problems of data ownership, excessive platform power, and lack of profit sharing for users on Web 2.0 platforms.
■How it Works
ETHOS is a decentralized version of TikTok, where creators and brands post videos and users view them.ETHOS is built on BSC.
In addition, ETHOS has two tokens
CRT: Governance token that can be used within the service
3TH: Incentive token that can be used outside the ecosystem
The incentive model utilizing these tokens is shown below.
○Engage2Earn (Reward is CRT)
Creators are assigned a CRT token when they set up their account. Each time a user purchases a creator's content, whether by subscription or one-time payment, the user receives 10% cash back of the purchase amount in the form of CRT tokens.
○Watch2earn (rewards are 3TH)
Creators and influencers can earn revenue in the form of 3TH tokens for producing content. Users can profit by viewing content.
○Live events
One of the key features of ETHOS is "hosting live events." ETHOS will host live events inviting creators and artists and sell tickets to attend.
Fans can vote for the creators of these events using the Governance Token CRT, and can also use it to purchase tickets.
■Token Economics
The token economics of 3TH are as follows
Private sale dates have already been set and sales will begin next week.
■Team
And the main reason why ETHOS has attracted so much attention is the team.
One of the founders, "Tiger Miller," has worked in the TV and film industry for over 15 years and is also an investor in the web3 industry. As such, he has relationships with global celebrities and influencers and is expected to be used by big name creators.
The other founder, "Kaue Cano," is a former engineer at MakerDAO and has also worked as an engineer at ENS, Solana, and others.
This team structure is also the reason why the company has received investment from Yusaku Maezawa and includes MZ DAO and MakerDAO as partners.
Has the web3 industry entered its second round of entrepreneurship?
Here are my impressions based on my research.
Mr. Maezawa has an outstanding name recognition in Japan, and he may become well known in Japan once ETHOS is fully released in the future. There have been many decentralized social networking and platform projects in the past, but no service has yet broken through to that level, and I think it will be interesting if ETHOS expands with its technical capabilities and human network.
As I felt when I saw the ETHOS team this time, I have a sense that the web3 industry has entered its second round of entrepreneurship. By second round, I mean ex-MakerDAO, ex-Solana, and so on.
Aptos and Sui are both made by former Diem members, and I have the feeling that many of the projects that are becoming famous these days are started independently by people who made significant contributions to the projects that are now famous in the early days of web3.
Those who have been contributing since the early days of the project have a deeper knowledge of the project, and since the price of the tokens they hold has been rising, many of them must be financially well-off. A second entrepreneurial boom of such people has begun.
The web3 industry is going to be more competitive because those who started their businesses the first time will have to fight against them. However, the people who were building the first protocol layer are starting to build products that are more like services and applications, so I think the use cases are going to expand.
It is very interesting to see how the industry is moving from a macro perspective while analyzing micro projects. I will continue to do research!
That's all for now, we would appreciate it if you could help us by liking, commenting, and sharing on social networking sites. Thank you for reading!
Disclaimer: This is written after careful examination of researched information, but since it is privately operated & the source is often in English, there may be some mistranslated or incorrect information. Please understand that some information may be mistranslated or incorrect. Also, we may introduce Dapps, NFTs, and tokens in the articles, but we do not have any solicitation purpose. Please purchase and use all at your own risk.
Writer
mitsui@web3researcher
Daily information about web3 (projects, news, explanations of vocabulary, interviews with project owners, and articles about learning and thinking from research).
I run a web3 based Substack with over 1,000 subscribers in Japan. If you have a project that you would like to expand for Japan, please contact me on Twitter.
※This is a translation of a Japanese article, so I apologize for any unnatural English.