LikeCoin is a cryptocurrency
Conventional wisdom indicates that writers, photographers, artists, and other creators who share their content for free, under Creative Commons and other open licenses, won’t get paid. That means most independent creators don’t make any money by publishing their work on the internet. Enter LikeCoin: a new, open source project that intends to make this convention, where artists often have to compromise or sacrifice in order to contribute, a thing of the past.
The LikeCoin protocol is designed to monetize creative content so creators can focus on creating great material rather than selling it.
LikeCoin aims to reinvent the Like by realigning creativity and reward. We enable attribution and cross-application collaboration on creative contents. With a reinvented Like button and our unique LikeRank algorithm, we trace content footprint and reward content creators by Proof of Creativity mechanism.
In the Internet, rewards and creativity have been decoupled for long. This is especially true for independent content creators and freelancers. In the early days of the Internet, indies made money by selling their works online. All technical aspects of the Internet are now dramatically improved, yet the revenue model is not. In fact, it is worse. Content creators are not getting incomes but Likes. While some can take freelance projects and advertising jobs, such model is rather indirect. LikeCoin protocol is thus designed to monetise creative contents directly, so that creators can focus on creating great contents rather than selling or looking for business models.