Earlier we wrote about Polinate, a unique crowdfunding platform that aims to empower creatives and artists to make their dreams come true. Using blockchain technology, they have designed an ecosystem for creative creators, investors, sponsors, and fans to communicate in a fair and permission-free infrastructure and reap the benefits of each other’s dedication.
Using blockchain technology and smart contracts, Polinate aims to provide fair funding opportunities for diverse creators. In doing so, it claims to disrupt the conventional crowdfunding model with three distinctive features: it is permissionless, it offers financial freedom (funding opportunities without regard to a creator’s social status or whether they have a bank account) and it is decentralized.
The Social Hive on Polinate
The platform has also structured the Social Hive in such a way that the rewards are paid from a creative point of view. And you can see that in the Social Hive Club. Let’s start by explaining what the Social Hive Club is. The people behind Polinate wanted their token to be useful from the moment the platform is live – and the coin is available to the public. Why? Because Polinate noticed that there are currently numerous projects with tokens that have no use whatsoever in themselves. In fact, these are purely speculative assets that change in value based on how much attention press and influencers generate for a token. Polinate wants to do this completely differently.
At the same time, Polinate does not want to release a product whose usefulness is the same as any other DeFi product where people earn an APY on staking tokens. Instead, Polinate wants to give rewards from a creative point of view to those who believe in the platform. Polinate works with a so-called Tier-structure. The higher the tier, the greater the rewards.
Value for the creators and for the fans
What’s interesting about this approach is that instead of getting a traditional interest rate on the coins you’re staking, you can be in a position where you get something like an NFT that ends up being way more valuable than the coins you’re staking. It’s an ingenious model.
Of the model, cofounder Azeem Khan said “We’re looking to disrupt this inflationary model that projects are setting up with giving away an APY that sets up projects in a strange way. As much as we understand people want access to more tokens, we want to do something that makes them even more excited. What if they end up getting an NFT of the next BAYC? Now that’s powerful.”
This works as follows:
Bronze Tier – 10,000 POLI
The Bronze Tier offers NFT drops – for a month, at random – from creatives on the platform and from NFT partners.
Silver Tier – 25,000 POLI
The Silver Tier offers NFT drops (during the month at random times) from creatives, partners and advisors on the platform. This is just a little bit cooler the Bronze Tier because of the advisors. You can see which ones they are on the Polinate website.
(tekst loopt door onder het beeld)
Gold Tier – 50,000 POLI
The Gold tier offers NFT drops from creatives, partners, advisors, extra, random drops, signed items, ticket drops, and the ability to enter lower fundraisers.
Platinum Tier – 100,000 POLI
The Platinum Tier offers NFT drops from creatives, advisors, NFT partners, random drops of autographed memorabilia, tickets to shows, the ability to enter any Platinum Tier or lower fundraising, the ability to commission work from artists (on Polinate), wagering discounts at BlockFilms studios in Enfield London, and special fundraising durations on the promoted section of Polinate’s front page.
Diamond Bee – 250,000 POLI
The ultimate level is that of Diamond. It offers everything that the Platinum Bee also does; supplemented by events for concerts and festivals and the ability to participate in fundraisers, as well as additional support features.
You can find out more on The Social Hive here