Latashá uses revenue sharing to generate awareness for "WAVE"

Overview 

Formless collaborated with multi-dimensional Artist and Founder Latashá to promote her new song “WAVE” by using an X Post featuring the song.

• The goal was to gain attention for the song by spreading awareness using an X post.
• Social sharing of the post was incentivized by offering $10 per 1000 impressions ($.01 per impression) generated by the post within the first 24 hours to a community of 100 participants.
• Formless provided smart contract technology to efficiently establish revenue ownership rights and payout participants in real-time. 
• The community equally shared revenue generated from impressions on the post within the first 24 hours.

“This is such an awesome new way to share with my community... I think a lot of artists are thinking about activations that give back to the community that gives to them so much, and I’m always really interested in tools that do that because I think that’s the future. The future is circulating all the economics that we can, giving to each other and giving back, and doing that over and over. Formless is really allowing that.”

- Latashá (X Spaces, 3/14/2024)

What We Did

Strategy

• Drive engagement with post by rewarding social sharing with a monetary incentive to increase reach (impressions). 
• Use Formless’s smart contracts to simplify and streamline allocating revenue-share ownership rights and distribute reward payouts across a large group of 100 participants. 
• Leverage fast, real-time payouts in public communications to draw attention and further boost engagement with the post.

Technology

The post used a SHARE protocol smart contract to manage the ownership rights of the revenue stream generated by the post and instantly route payments to co-owners. As impressions 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 X post. Formless verified the reposts and directed participants to claim their revenue-share split on the Formless application interface. Each participant automatically received 1% of the total revenue generated from impressions.

Building Community

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

Results

• Participants claimed all 100 splits within 100 minutes.
• The post generated over 200 reposts, 37,000 impressions, and 2,000 engagements during the first 24 hours.
• The collective received over $370 in shared revenue.

Outcomes

• Revenue-share ownership rights were claimed quickly and automatically established for participants.
• Incentivized participants generated social reach and engagement targets that exceeded Latashá’s expectations.
• The SHARE protocol efficiently distributed payments to all co-owners in real time.
• Latashá received 100 email addresses of new community participants with whom she can build a direct connection. 
• The results show promise for future projects where Latashá can share revenue with her community in exchange for social promotion or sales of digital properties such as music and more.

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