Case Study

FORMLESS uses revenue sharing to increase brand engagement

Participants received over $800 in shared revenue

18 Jun 2024 - 3 Min Read

Overview

Formless unveiled an redesigned logo as part of a comprehensive brand enhancement to showcase a new visual identity. The company sought to spotlight this evolution within the context of its overarching vision, aiming to engage the community and raise awareness.

The goal was to increase engagement with the Formless vision, Illuminating True Human Purpose through Technology and the new visual identity.
Formless used an X post thread that included an animated logo visual, the vision statement, and an explanation of the vision's meaning.
Formless incentivized social sharing of the post by offering $20 for every 1000 impressions generated by the post within the first 24 hours to a community of up to 100 participants.
Formless’s SHARE smart contract technology efficiently established revenue ownership rights and paid participants in real time as post impressions increased.
The community equally shared the total revenue generated.

What We Did

Strategy

Drive engagement with the Formless visual identity and vision by rewarding reposts with a monetary incentive for increasing awareness.
Use Formless’s smart contracts to simplify and streamline allocating revenue-share ownership rights and distribute reward payouts across a group of up to 100 participants.

Technology

The post used a SHARE protocol smart contract to manage the ownership rights of the revenue stream generated by reposts and route payments to co-owners. As in-store purchases generated revenues, co-owners viewed their payout balance on the Formless dashboard application interface.

Splits Allocation

Revenue-sharing rights were offered to the first 100 people to repost the original Formless post. Formless verified posts and directed participants to claim their revenue-share split on the Formless application interface. Each participant automatically received 1% of the total revenue generated by the post within the first 24 hours.

Building Community

Each split included a token for co-owners to unlock future experiences.

Results

All 100 splits were claimed within the first 58 minutes.
The Twitter post generated over 41,000 impressions, 11,880 engagements, and 6,096 profile visits within the first 24 hours.
The collective received $800 in shared revenue.

Outcomes

Revenue-share ownership rights were claimed quickly and automatically established for participants.
Incentivized participants generated awareness and engagement targets that exceeded Formless’s expectations.
The SHARE protocol efficiently distributed payments to all co-owners in real-time.
The results show promise for future projects using Formless technology to share revenue from physical merchandise sales.