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Monax Labs, a Web3 studio specializing in secure and legal non-fungible token (NFT) infrastructure, has unveiled Aspen, a Web3 membership platform that bridges the gap between creators and their communities.
Among the things it can do is guarantee royalties for Web3 creators — something that has been a problem with Web3 marketplaces such as OpenSea. In short, blockchain tech offers the ability to trace who created what with a digital item. And so creators should get a royalty based on something — or some piece of an item — that they’ve created. Yet OpenSea has decided not to do this.
With a suite of powerful tools for royalties, minting, subscriptions, and utility access, Aspen aims to redefine the creator economy by empowering creators and ensuring fair compensation for their work.
Casey Kuhlman, CEO of Monax Labs, said in a statement, “We are thrilled to introduce Aspen, a decentralized platform that prioritizes creator rights. Our vision is to create a future where creators have the support systems they need to succeed, enabling the web3 market to flourish.”
Aspen did a soft launch six months ago, and the company said Aspen has already proven its effectiveness by helping creators and projects reclaim lost royalties and revenue.
A notable success story is Consortium Key, a collection that provides tools to enhance trading efficiency. Working closely with Aspen, Consortium Key transformed its unstable business model, resulting in a 60% increase in revenue and more than doubling the number of subscriptions in just one month.
Furthermore, the percentage of Consortium Key holders who have paid their royalties increased from 10% in April 2023 to 90% at present, while paid subscriptions experienced a 75% surge since February 2023. These remarkable results not only saved the project from potential decline but also rejuvenated their cash flow, reaching breakeven and enabling the replenishment of reserves.
Christina Giannakou, chief creative officer of Monax Labs, said in a statement, “Aspen provides the keys to collecting revenue and protecting intellectual property. We empower creators to unlock recurring revenue, safeguard their creations, and take control of their enterprises. This solution addresses the challenges faced by web3 creators while also offering potential solutions to the entertainment industry at large.”
Aspen offers creators unparalleled autonomy, allowing them to shape narratives and forge connections within a space they truly own. With a transformative approach to the creator economy, Aspen empowers creators to generate sustainable revenue streams and provides a powerful trading experience for users.
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