Calaxy, a next-generation social marketplace, has successfully launched its application, ushering in a new era of creator monetization. The application helps creators professionalize their passions and generate revenue from content by providing a one-stop shop for them to offer experiences to their community.
A $250 billion market, the creator economy is one of the fastest-growing sectors of the internet, with an estimated 200 million content creators participating. Despite rapid growth, infrastructure has remained stagnant, leaving creators struggling to monetize as they’re trapped between algorithms and reliance on brand deals. The launch of Calaxy redefines the market, empowering creators with an equitable social media model that allows them to better capture the value they create. With the opportunity to price their offerings, Calaxy enables creators to cut out costly intermediaries and instantly receive payment directly from fans on delivery of the requested experience.
Solo Ceesay, CEO and Co-Founder of Calaxy, said: “Having embarked on this journey over three years ago with my co-founder, Spencer Dinwiddie, the Calaxy app launch is the realization of the team’s collective vision to establish a new order for the creator economy. Launching Calaxy is a major step towards this goal and means that fans and creators can finally experience what we have long been shouting for: an intuitive platform where they can build a successful, personalized economy.”
Powered by blockchain technology, the social media platform provides creators with an end-to-end toolkit to build community, sell a range of experiences, and receive an instant payout. From video calls, exclusive fan content, and shout-outs, creators across industries are able to customize their experiences to effectively engage their audience on their terms. Designed from the ground up for simplicity, the application features a home feed to connect with the platform’s community, as well as an “experience scroll” where users can discover tailored experiences offered by their favorite creators.
Each Calaxy user will be able to quickly set up a non-custodial Calaxy wallet through which they can send, receive, and store cryptocurrencies. As a core offering, the Calaxy wallet has been carefully designed for users with no prior experience in crypto markets, helping to educate users and lift the mainstream entry barriers currently plaguing the industry.
Spencer Dinwiddie, Executive Chair and Co-Founder of Calaxy, said: “After three years of non-stop teamwork, Calaxy is finally here, and sitting right at the core of THE creator economy. We’ve done the research, raised the money, and taken the time to build a product with the capability of revolutionizing this industry. By giving creators the tools they’ve been calling out for and a professionalized platform to build their economies, Calaxy allows them to continue to do what they love while being remunerated adequately. Calaxy is the answer to many of the challenges contemporary influencers are plagued with today.”
A host of creators including Soccer Star Luis Suarez, YouTube and Tik-Tok Star Eric Struk, WWE’s Mickie James and Model Tiana Musarra, are slated to go live on the Calaxy platform with many heavy-hitting celebrities including The Bachelor’s Matt James, and NFL star Ezekiel Elliott due to offer experiences in the coming months, as well.
Foye Oluokun, NFL Star, said: “Despite the hectic schedules we work within, prioritizing contact and facetime with fans is still hugely important to us, which is why I’m really excited about Calaxy. Calaxy’s creator-first strategy is attracting an incredible range of professional and non-professional athletes – all of whom recognize its capability to deepen fan engagement. To be a part of this experience from the outset and have the ability to connect directly with my community is something very special. I finally have the chance to offer my fans the meaningful content they deserve and having their support along the way definitely helps my performance. Let’s go score some points.”
Under the hood: Calaxy is built on the Hedera network, a leaderless proof-of-stake blockchain alternative powering the next generation of Web3. Calaxy shortens not only the distance between fans and creators but also removes barriers between creators and their payouts. Each creator experience is backed by an NFT on the Hedera network that is publicly verifiable on chain, and can be purchased by users with either fiat or crypto (USD or USDC), while funds earned by creators can be paid out in the form of fiat or crypto (USD or USDC).
The Calaxy app launch comes following a successful $26M funding round for the company and the appointment of Solo Ceesay as CEO in June 2022. Calaxy previously closed a strategic raise of $7.5M in July 2021 and is backed by Web3 industry leaders including The HBAR Foundation, Animoca Brands, and Polygon.