Case Study

TK uses revenue sharing to promote live performance video

Participants received $2195 in shared revenue

16 Jul 2024 - 3 Min Read

Overview

FORMLESS teamed with prolific artist and creator TK to offer revenue sharing on an X and IG post featuring an excerpt of his new live performance video of CLOSURE.

The goal was to increase awareness of the live performance by promoting the video on two platforms.
Social sharing of the post was incentivized by offering $10 for every 1000 views generated on both platforms to up to 250 participants who reshared the post.
SHARE smart contracts efficiently established revenue ownership rights and paid participants in real-time as post views increased.
The community equally shared the total revenue generated from reposts within the first 24 hours.

What We Did

Strategy

Incentivize engagement by rewarding reposts with a monetary reward, boosting awareness and participation.
Utilize SHARE smart contracts to streamline the distribution of ownership rights and payouts to up to 250 participants, fostering a community-driven approach.

Technology

SHARE smart contracts were used to manage the ownership rights of the revenue stream generated by views and route payments to co-owners whose payout balance could be viewed via the SHARE dashboard application interface.

Splits Allocation

Revenue-sharing rights were granted to the first 250 people who reshared the posts on either platform. Formless authenticated the reposts and directed participants to claim co-ownership on the SHARE application interface. Participants received 0.4% of the total revenue generated by the posts within the first 24 hours.

Building Community

Participants were given an excerpt of TK’s live performance of CLOSURE, sparking anticipation for the full video available exclusively on SHARE for $1.00. TK also gained access to the email addresses of all 250 participants for future marketing or community-building efforts.

Results

All 250 splits were claimed in 77 minutes.
The X post generated over 198K views, 127 reposts, and more than 45K engagements within 24 hours.
The IG Reel has generated 19K plays, with 87 shares and 431 engagements.
The collective received $2195 in shared revenue.

Outcomes

The SHARE protocol efficiently distributed revenue payments in real time to a record number of community members.
Incentivized participants generated awareness and engagement targets that exceeded expectations.
The results show promise for using revenue sharing on additional social media posts to drive awareness and expand the model beyond music to other digital properties and products.

Get started at https://share.formless.xyz or contact us at creators@formless.xyz if you want to create similar results as part of your upcoming release strategy.