Welcome to Bitverse
So, what is Bitverse?

In Open-web, content creators would be creating value without capturing it.

Bitverse seeks to correct the asymmetry between value created and value captured.

How does it work -

When you the creator upload, let's say an image on the bitverse, following things happen -

  • The image is added to IPFS, you may host the image on your computer or pin it on services like pinata. Your fans can also consume and seed that content on their devices.
  • Now the CID of that image is added to the smart contract on the ethereum blockchain, along with information like its author, the likes and dislikes it has, etc.

Now whenever any user likes or dislikes a content, the record is updated inside the smart contract.

And the author of the content is rewarded in following way -

  • An ERC20 token (Bitstone - BIT) is minted to the author's address whenever their content's hits a milestone.
  • The current Milestone is '10', i.e., for every 10th netlike the content is able to accrue, a token will be minted to the author's address.
  • Creators can choose to trade these tokens on DEX, Crypto-Exchanges or hodl if they like.
  • Those tokens would represent the likeability and credibility of the content as well as the creator in the vast expanse of the distributed network.
  • Those tokens can be used to get a sense of how much value you are generating through your content.
You can read more about bitverse here

Read about the Incentive structure of bitverse here