XCAD Network is a project dedicated to developing an ecosystem of YouTube content creators and fans economy that allows creators to monetize their content through tokens and incentivizes fans for their engagement, like watching videos on YouTube.
The project now has the backing of two very popular YouTubers, Mr. Beast (62M+ subscribers) and KSI (22M+ subscribers), who have endorsed XCAD by getting on board as investors. XCAD has also successfully raised a capital of $3.9 million for research and development to build its ecosystem of decentralized YouTubers and fans economy.
This project is a pioneer, there has not been any other project in the past focused on developing a marketplace for tokenized YouTube content and decentralized monetization. With XCAD gaining popularity through the support of Mr. Beast and KSI, it is expected that more content creators from YouTube will also jump the bandwagon, and some popular names can be announced in near future.
XCAD Marketplace & Tokens
Using the XCAD ecosystem’s marketplace, content creators on YouTube can create and sell non-fungible tokens (NFTs) for their fans. This will allow them to monetize their content in a decentralized way, with more control and direct connection with their fanbase.
There is a broad range of applicability of these tokens in monetization. For instance, creators can create moments NFTs that capture iconic events from their videos, give exclusive access to rare content to fans who hold certain tokens or increase watch time by rewarding viewers with tokens.
Viewers will be able to earn tokens by watching YouTube videos and trade them or hold them to get privileges like voting regarding content creation decisions or earning rewards by staking their tokens.
The network will also launch a Youtube plugin that will work with the YouTube website. This will make it simple and easy for Youtubers and fans to exchange tokens of real monetary value.
XCAD token will serve as the native token in the network and the currency to be used in the network’s NFT marketplace. It has a limited supply of only 200 million.
Note: There is no official statement regarding the availability of XCAD tokens on any exchange yet at the time of writing this article.
About XCAD Network
Based on the British Virgin Islands, XCAD Network is founded by Joel Morris, a YouTuber with over 2.5 million subscribers, and his partner Oliver Bell who is currently acting as the CEO. XCAD Network is backed by the Zilliqa blockchain technology.