In July, the BSV Blockchain Association partnered with Elas for the inaugural Enterprise Blockchain Conference in Brisbane, Australia. The summit featured a variety of presentations from speakers involved with BSV blockchain and the surrounding ecosystem.

One of the first presentations was given by Morgan Coleman, Co-Founder and CEO of LaMint. LaMint, which is currently in beta access ahead of its full launch, allows users to monetize their content on social media platforms using micropayments.

Coleman noted that as becoming a content creator has become a full-time job for millions of people, the market is increasingly crowded, and less than 1% of all people earn enough to make it a full-time job.

‘The vast majority of creators’ revenue comes from advertising. The problem with that is that it is unpredictable, unreliable and the large tech platforms earn far more from the content than the creators themselves.’

‘LaMint is a standalone platform for creators that allows them to earn micropayments for all types of content. LaMint is bringing peer-to-peer and instant payments to the creator economy. Creators simply post, earn, and spend.’

How LaMint helps social media content creators earn through micropayments

Coleman said that creators can easily drive their existing follower base to the platform by embedding links into their posts, stories or profiles. They are then able to monetise even the simplest of content through micropayments.

He added that once LaMint launches, creators will have as many as six different ways to monetise their content over and above the single option to earn money through advertisements which are currently offered. 

‘Because we have built this on the BSV blockchain, the possibilities for us to add additional revenue streams are literally endless. In the next 12 months, we will take the revenue streams from six to nine, and we have an exciting pipeline of further enhancements set to follow.’

‘By removing the reliance on advertising and allowing creators to earn through micropayments, LaMint will be a catalyst for bigger growth,’ Coleman said.

Existing pay-to-view platforms

While pay-to-view social media platforms already exist, Coleman noted that these are all built on the existing financial system, meaning their ability to add additional revenue streams remain severely limited. They also rely heavily on subscriptions and paywalls, he said.

This in turn limits avenues for content creators and limited monetisation opportunities. Users also suffer as they are unable to pick and choose the content they engage with without signing up, he said. As a result, these existing platforms see high numbers of ‘churn’ as users sign up for content one month and then cancel the next.

Other existing problems with current platforms include the inability to get paid immediately and not being able to access cash directly, said Coleman.

‘BSV allows us to solve the creator problem in a way that our competitors simply can’t. There are no longer pay cycles, bank delays, tokens or exchanges. We have made the user process so seamless that our users don’t even need to know that they are earning and spending in BSV and we support the top 15 fiat currencies around the world.’

You can read more about signing up for the LaMint waitlist and platform here.