Clout.art Breaks Launchpool Fundraising Records in run-up to IDO

A Web 3.0 social media protocol and NFT marketplace, Clout.art’s upcoming IDO has been bolstered by a record-breaking fundraising on Launchpool. With over $8.4m staked in their allocation mining event – and $250k available – their original target was exceeded by a factor of 30.

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What is Clout.art?

Clout.art is a specialized NFT minting and marketplace platform, and the first dApp built on the Sway Social Protocol. Already driving the creator economy, Clout.art specializes in turning social media users’ most valuable content into unique NFTs. With the model already proven by the sale of Jack Dorsey’s first ever tweet to a Malaysian businessman for $2.5 million in March 2021, Clout.art is starting with Instagram posts. TikTok, Twitter and other social media platforms will soon also be in their sights. With social capital rapidly becoming an asset class in its own right, Clout.art helps social media users build out their crypto portfolio and passive income streams.

Alphabit Partnership

One of the major crypto asset funds, Alphabit has already noticed their huge potential. They will be leading a $1.4 million strategic investment round for Clout.art. Alphabit is joined by strategic investors including AU21, 01 Capital, LucidBlue Ventures, 0rigin Ventures, and others.

Clout.art has already validated their wisdom, raising the highest amount ever in total value locked (TVL) and staked on Launchpool. To power the creator economy, they made $250k available to the Launchpool community. However, they ended up breaking their previous record with over $8.4 million LPOOL staked in their signature allocation mining event (AME). At 30 times the ask, this shows not only that NFTs are still in demand, but also the market’s confidence and belief in Clout.art’s approach.

“We are delighted to be partnering with Clout.art – a true pioneer in the NFT world, and laser focused on building the creator economies of tomorrow. We analyzed the market thoroughly, as we do for all our investments, and Clout.art demonstrated exactly the approach we were looking for,” explains Shane McQuillan, VP Strategy at Alphabit and Executive Sponsor at the Launchpool Web 3 Techstars Accelerator.

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What is the SWAY token?

The Clout.art SWAY token is the basic functional unit of the platform. It is used for voting, incentivizing positive actions, utility, and staking. The token is aimed at coordinating the network between NFT tokenization and a creator economy staking platform.

SWAY is staked by holders to pools owned by their favorite content creators. It represents a crucial step towards the creation and recognition of social capital as an asset class.

Token Features

  • Content creators establish individual pools for their NFTs.
  • Users stake SWAY tokens to the pools (content creators) they wish to support.
  • Staked SWAY tokens share in the revenue generated from their specific pools.

The initial issuance of SWAY is 100 million, with a further 100 million to be distributed as incentives for platform adoption. The issuance of new tokens, up to the 200 million cap, relies solely on content creators joining the platform and creating pools, thereby expanding the ecosystem.

IEO/IDO announcement

The platform is scheduled to launch in advance of the SWAY token generation event, giving everyone the chance to see the platform’s capabilities before Clout.art’s IDO offering. The IEO/IDO is scheduled for launch in October.

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