KIKI uses revenue sharing to promote their Onchain Summer Mint

Overview

Formless announced a collaboration with KIKI, a beauty industry co-creation leader, to promote their Onchain Summer Mint campaign on X. Holders of the limited-edition BASE FACE NFT are entitled to claim a physical product made by KIKI, called the BASE FACE SOS PATCH.  

• The goal was to expand the campaign's reach and increase engagement with the post by incentivizing community members to share the announcement and participate in the NFT drop, creating a network effect and enhancing sales.
• Formless used an X post thread featuring a KIKI animated graphic, along with details about the collaboration and the revenue-sharing opportunity. 
• Social sharing of the post was incentivized by offering $10 for every 1000 views generated to a community of up to 200 participants. Additionally, KIKI offered  5% of the total NFT sales revenue to the community of participants.
• Formless’s SHARE smart contract technology efficiently established revenue ownership rights and paid participants in real time as post views increased. The community equally shared the total revenue generated from both views and NFT sales.

"KIKI's mission is to enable everyone to be a co-owner and co-creator of the products, communities and experiences they love. Working with SHARE (and Formless team) to unlock content distribution as an additional way for  participation is a very exciting way to empower anyone on the internet to join our mission and to be rewarded for what they already do — share what they love, one click and dollar at a time! :) "

Jana Bobosikova, CEO and Co-founder, KIKI

What We Did

Strategy

• Drive engagement with the KIKI brand and NFT drop campaign by rewarding reposts with a monetary incentive for increasing awareness and driving NFT sales.
• Use Formless’s smart contracts to simplify and streamline allocating revenue-share ownership rights and distribute reward payouts across a group of up to 200 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 NFT sales generated revenues, co-owners viewed their payout balance on the Formless dashboard application interface.

Splits Allocation

Revenue-sharing rights were offered to the first 200 people to repost the original KIKI x FORMLESS post. Formless verified posts and directed participants to claim their revenue-share split on the Formless application interface. Each participant automatically received .5% of the total revenue generated by the post and 5% of the revenue generated by NFT sales within the first 12 hours.

Building Community

KIKI received the email addresses of participants who opted in, further enhancing the community and enabling future engagement opportunities. 

Results

• All 200 splits were claimed within 4 hours.
• The X post generated over 64,000 views, 106,000 engagements, and 39,085 profile visits within 12 hours.
• The collective received $820 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 the expectations of KIKI.
• The SHARE protocol efficiently distributed payments to all co-owners in real time.
• The results show promise for future projects using SHARE Technology to distribute revenue from digital merchandise sales. 

Contact us at creators@formless.xyz if you want to create similar results as part of your upcoming release strategy.