Social marketplace Calaxy has launched its application built on the Hedera network, a blockchain alternative powering the next generation of Web3, to further creator monetisation. The application seeks to help creators professionalise their passions and generate revenue from content by offering a one-stop shop for them to provide experiences to their community.

The creator economy and how Calaxy’s launch falls into place A USD 250 billion market, the creator economy is among the fastest-growing sectors of the internet, having an estimated 200 million content creator participants. Despite the rapid growth, the infrastructure has stagnated, leaving creators struggling to monetise as they’re trapped between algorithms and reliance on brand deals. The launch of Calaxy seeks to redefine the market, empowering creators with an equitable social media model that enables them to better capture the value they create.

With the opportunity to price their offering, Calaxy helps creators cut out expensive intermediaries and instantly receive payment on delivery of the requested experience, directly from fans. The social media platform offers creators an end-to-end toolkit to build community, sell a range of experiences, and receive instant payouts. Ranging from video calls, exclusive content, and shout-outs, creators across industries are enabled to customise their experiences to engage their audience effectively on their terms.

Designed for simplicity, the app features a home feed to connect with the platform’s experience, together with an ‘experience scroll’ where users can discover tailored experiences provided by their favourite creators. Built on the leaderless proof-of-stake blockchain alternative powering the next generation of Web3, the Hedera network, Calaxy not only shortens the distance between fans and creators but also helps remove barriers between creators and their payouts. Each creator experience is backed by an NFT on the Hedera network that is publicly verifiable on the chain and can be purchased by users either with fiat or crypto (USD or USDC), and funds earned by creators can be paid out in the same form.

What is more, each Calaxy user will have the option to set up a non-custodial Calaxy wallet that can be leveraged to send, receive, and store cryptocurrencies. As a core offering, the Calaxy wallet was developed for users with no experience in crypto markets, aiming to help educate users and lift the mainstream entry barriers associated with the industry. Solo Ceesay, CEO and Co-Founder of Calaxy stated that the Calaxy app launch is the result of a collective vision to establish a new order for the creator economy and comes as a step further in this goal, enabling fans and creators to experience an intuitive platform to build a successful, personalised economy.

Further adding on this, Spencer Dinwiddie, Executive Chair and Co-Founder of Calaxy, said that by providing creators with the tools they’ve been requesting and a professionalised platform to build their economies, Calaxy seeks to enable them to continue doing what they love while being remunerated appropriately. .