Introducing Socialstack: Creator-driven social economies on Ethereum and Celo

Introducing Socialstack: Creator-driven social economies on Ethereum and Celo

Today we’re excited to announce Socialstack, a platform to mint and manage social tokens built for creators, community leaders, and changemakers on Ethereum and Celo.

Over the past decade, social platforms have empowered a new generation to make a living doing what they love. For some that has manifested as a Substack newsletter. Others have built membership communities on Patreon. And a few top creators have reached influencer stardom on Tik Tok, YouTube, and Instagram.

With the recent NFT wave, the creator economy has been given a new set of tools to monetize their work and engage with their followers. While digital artists are seeing most of the benefit now, the NFT ecosystem will rapidly mature with countless new tools and platforms expanding NFTs to every media format and impacting every area of the creator economy.

Concurrently, a new asset class called social tokens has emerged into the early adopter phase with the total market cap of key social tokens surpassing $81.2M in 2020. Already in 2021, this has tripled. While NFTs have taken the spotlight and catalyzed mainstream adoption, social tokens are poised to follow suit, introducing a new economic layer that captures the full value of a community and distributes it to the most active participants.

A social token layer will provide creative leaders with new methods to incentivize behavior by setting ways to earn rewards through active engagement in their community. This will spawn an entirely new paradigm of monetization and community ownership which exists in a decentralized network, independent of any individual social platform. This layer will provide new ways of co-creating value with others, turning passive followers into active participants, and monetizing creativity.

Socialstack and our mission

Socialstack exists to provide creators with tools and support to build new social-based economic systems fueled by passion and excitement, instead of scarcity and fear. Socialstack takes the middleman out of the equation so creators can directly interface with their followers and reward engagement with social tokens that community members can ‘cash in’ for things that continue to fuel and foster connections. It’s a flywheel for gratitude that builds on itself with creators, not third parties, determining the value that each creation and community action has.

We will enable this through open source, community owned tools to ensure a censor-resistant and inclusive Web 3.0 in which creative people can fully take back ownership of their creations. We do this by allowing creative leaders to issue their own branded social token on an open blockchain and providing them with tools to build social-driven economies with autonomy, peace of mind, and an incentive structure that supports their livelihoods and their community.

Our launch partner, $Afrofuture

We’re excited to announce to launch of the first social token community on Socialstack, $Afrofuture (https://afrofuture.ai), a social token, led by a community of technologists and innovators in the African tech industry, that is creating new funding and distribution opportunities for artists in Africa.


The initial value of the $AFTR token will be underpinned by a highly curated digital asset vault, containing NFT still photographs from The Mohammed Amin Collection. This recently digitized archive represents one of the world’s greatest unexplored historical artifacts surrounding post-colonial Africa, containing 2.5 million still photographs and 5000 hours of video footage captured between the 1960s-90s. Each quarter the $AFTR community will announce new vaults drops and new artists to commission.

Socialstack will be announcing and rolling out other launch partners over the next few weeks! Additionally, anyone can submit an application to join the Socialstack creator community and mint their social token on Ethereum or Celo.

So what's new?

The initial value of the $AFTR token will be underpinned by a highly curated digital asset vault, containing NFT still photographs from The Mohammed Amin Collection. This recently digitized archive represents one of the world’s greatest unexplored historical artifacts surrounding post-colonial Africa, containing 2.5 million still photographs and 5000 hours of video footage captured between the 1960s-90s. Each quarter the $AFTR community will announce new vaults drops and new artists to commission.

1. Making social tokens inclusive for emerging economies with Celo

The Ethereum ecosystem has pioneered the creation of the NFT and social token space over the past few years. However, alongside the rise in ETH network activity, gas prices have made social tokens an unusable asset class for most of the world. Celo’s mobile first, carbon-neutral, and minimal transaction fee approach makes it the ideal platform to make social tokens inclusive for emerging economies across Africa, Latin America, and Southeast Asia. The Socialstack team is driven by contributing to the creation of a global, inclusive social token ecosystem. True inclusivity starts with a strong intention from the outset to engage historically marginalized communities, empowering them to lead in the formation of Web3. Over the past few months, we’ve engaged a group of creators and community leaders in emerging economies consisting of African and indigenous communities that plan to launch on Socialstack over the coming weeks. We are excited to announce our launch partners, African Tech Roundup and the Pachamama Alliance, will be rolling out the first social tokens on Celo later this month.

2. The first social token email-based noncustodial wallet

With the help of our technology partner Ambisafe, our team has developed a web-based noncustodial social token wallet with email login and the ability to recover a forgotten password. When creating an account on socialstack.co, your private key is created, encrypted and securely stored by our technology partner, Ambisafe. Your email and password login acts as the only key which can unencrypt this to send funds out of your Socialstack wallet. You can refer to this diagram for a more detailed breakdown of the Socialstack wallet architecture. Building our wallet in this way provides you the very important security advantages of a noncustodial wallet, with the ease of use of a custodial wallet.


3. Mission-driven NFT collectibles

Socialstack will partner with our creators and communities to create limited edition NFT collectibles that will drive a specific fundraising goal to achieve a community-aligned mission. The accomplishment of these missions will be commemorated in Socialstack metaverse spaces and purchasers will proudly display their NFT collectibles in their Ethereum wallet, representing the mission that they contributed towards accomplishing alongside their favorite creator.


What can I use Socialstack for?

  1. Mint & manage your own social token: We enable anyone to mint their social token on the Ethereum or Celo blockchain, securely and transparently. All tokens issued through Socialstack are then listed in our noncustodial wallet at socialstack.co.
  2. Achieve mission-driven fundraising goals through NFT collectibles: Each NFT collectible card will have a limited issuance and fixed price with 90% of proceeds going to community-aligned missions, examples might include raising money to build a school in rural Ghana or to rebuild a village in Guatemala destroyed by a mudslide.
  3. Joining a community of heart-centered leaders: Our team will curate creators and communities that are aligned with our giving culture. Anyone that launches on Socialstack will become a part of the Socialstack creator community, gaining access to weekly community calls and our creator partnership program.

What can I use Socialstack for?

Anyone can submit an application to join our creator community. If accepted, you will have the option of minting your social token on either Ethereum or Celo and will have your token listed in our noncustodial wallet at socialstack.co. Anyone who launches on Socialstack will become a part of the Socialstack Creator program consisting of an open weekly support call, resources on how to best leverage your social token, and ongoing support from the Socialstack team on growing your community.

In order to fund the continued development of the Socialstack noncustodial wallet, contribute open source tooling, and create a robust creator support program, we will charge a 3% issuance fee to mint your token and a 5% transaction fee for each NFT collectible sold through our platform. Over time, Socialstack will move towards becoming a fully permissionless issuance platform governed by a Decentralized Autonomous Organization and powered by the Socialstack governance token.

If you’re interested in working with Socialstack or being a part of the team, feel free to reach out! The best place to reach us is by joining our Discord, following us on Twitter, and following us here on Medium!