We are thrilled to announce to our community that we just closed our investment round and are eager to share the investors who have committed to support us on this amazing journey to build a platform that curates the growth of NFT use cases.
We have divided our investors into three categories:
- Media companies.
- Venture capital firms.
We have been very strategic on who we picked as our first set of investors. We wanted to distribute our allocation as evenly as possible while spreading across various geographies. More importantly, we picked investors who were ready to hustle and work with us. Below is the list of investors with their geographic advantages.
Exchanges: MXC (Greater China), BitForex (Russia), Hotbit (United States), LBank (Greater China).
Media: FMF Capital, owners of Bitcoin Magazine and BTC Inc. (U.S.), ICO Pantera (Korea), ItsBlockchain (India), Jeff Huang (Taiwan), PANews (Greater China).
Venture Capital firms: Cryptomeria Capital, DFG (Greater China), CDI (Greater China), PhoenixVC (Middle East), ChronosVC (Russia), BSS Finance (Europe).
The team is grateful for having these investors on board. We welcome them to the Corra ecosystem.
What is Corra
Corra will enable the monetization of digital content through the creation of nonfungible tokens. Instead of gaining likes from your photos on Instagram, you can sell them to your fans. Anyone can create NFT products, auction them, and monetize their ideas, words, digital content, products and much more. Corra strives to push NFT use cases beyond just gaming and digital arts. The platform will introduce four new categories to curate NFT products: DeFi, digital content, social media and nonprofits. Users can create and list products for free without paying gas fees. Only when the users auction out a successful sale will the platform charge a fee, guaranteeing a profit to all NFT creators on Corra.
NFT in Social Media
Social media platforms such as Instagram, Tik Tok and Facebook monetize our digital content whenever we post photos, short clips or any content on their platform. Realistically, users should get paid as the companies are monetizing our data, but we all know that will never happen — this is where Corra comes in. When users post something on their social media platform and share it with their friends, they can also post it on Corra and auction it in the form of an NFT. Users can align the NFT auction with the post on their social media account so their friends or followers can see it. Anyone who finds it interesting and wants to support or have a piece of your IP can execute a bid on Corra and ultimately purchase it. Now your friends can own a piece of your IP.
NFTs for nonprofit
Corra also wants to work with nonprofit organizations around the world to open up a blockchain solution that funnels more donations to support their mission. Traditionally, nonprofit organizations would attract funding from supporters through the purchase of merchandise or online donations. As donors, we can only assume that the money is going into the right hands for a good cause once the money is sent. With Corra, nonprofits can create a new pool of donations by creating NFT products online and sharing them with their supporters. The donation can be in the form of crypto, whereby the wallet of the nonprofit organization is shared publicly so people know where the funding went. The nonprofit can then make a proposal to the community each time it wishes to allocate a certain amount of donation from the pool on a new initiative, and the transaction will be recorded on the blockchain. This would increase transparency on where the funds went. If the nonprofit provides a credible report on how the replication went, donors will continue to support the nonprofit by purchasing NFTs, and the pool will remain open for anyone to inspect. Over time, if the nonprofit’s brand increases, the buyers of the NFTs can resell them in the marketplace, which would earn the nonprofit royalties on future sales from the NFTs.
NFTs in digital content
Digital content can be in many forms. It could be a photo, a video, a message or even a philosophy. Historically, when artists first painted, no one knew that their artwork could have a price tag attached to it, nor could it be sold and resold for hundreds of years. Just like artwork in the past, digital content today should have a price, but because we are so used to giving that value to the hands of giant tech firms and have been so institutionalized by their rules, we never thought of the idea that our own content on their platform can have some form of monetized value.
Corra aims to break that stereotype by allowing anyone to freely create an NFT attached with their digital content, and then opening up a marketplace specifically for this use case. Each user can test how much their messages are worth, not in likes or comments, but in real money. For example, KOLs can share their photos on Instagram and, at the same time, share that photo on Corra to be auctioned out. Their fans can purchase it and support the KOL. It is a better form of online gifts because your fans are purchasing a piece of your intellectual property, which can grow over time and be resold on the market. If future sales were to occur again, you as a KOL will get royalties from the sale and would be incentivized to further grow your brand. Corra aims to open up an entirely new market for KOLs, public figures and celebrities to monetize their digital content. Don’t work for the giant tech companies, work for yourself.
NFTs in the DeFi market
Corra will introduce NFT use cases for new or existing DeFi products. Below are sample ideas on NFT use cases that can be implemented to existing DeFi products:
- Reducing lock up for staking related products by X time.
- Increasing APY for lending-related products by X time.
- Decreasing APY for others while increasing your own APY within X amount of time.
- Increasing voting rights.
- Reducing APY for borrowers by X time.
In addition to working with existing DeFi companies, Corra will fork several versions of the most popular DeFi products in the market to showcase how NFTs can be applied.