Earlier in the year, Youtube saw massive backlash from advertisers on its platform for ads appearing on hateful or otherwise advertise content.
More and more Youtube channels are demonetized and even Patreon joined the censorship bandwagon, banning users it deemed violating their terms of service. It became obvious that the content creator market is heavily reliant and dependent on mediators, third party service providers and a centralized system.
Similarity to 2010, when Visa, Mastercard, and Paypal shut off donations to Wikileaks; that this was when the public really understood the potential of Bitcoin.
Circles aims to bypass centralized monetization
Circles vision is to create a peer to peer ecosystem in which content creators can receive direct payment from their supporters in the form of circulation which in turn pays the supporters with each consecutive circulation afterwards in the form of Circle token dividends paid out automatically by a smart contract on the Ethereum blockchain.
When users circulate content, 90% will be sent to the content creator, and 10% will be sent to a smart contract that will then distribute the circles amongst the circulators of that content. Each circulation beyond the first pays the users below with a portion of their circulation based on the weight of each lower circulator’s investment.
Receive dividends while supporting your favorite content creators
The more circulation the content gets, the bigger the dividends contract will become. The first person to circulate content will have the bigger risk but also the bigger reward. This will grant the users who found the content first a reward for finding the content early and earning a reward on its success of becoming popular or going viral.
This incentive hopes supporters will invest their Circles token wisely thus allowing quality content to be rewarded along with the Circle token users.
Enter the Circles browser extension
Circles users can choose to donate to their favorite content creators without being limited to certain platforms and financial methods.
Similar to Metamask, the driving motivation behind Circles is the browser extension, making interacting with the blockchain easy and for anyone to be able to use. They hope this will lead to higher engagement levels then having a separate platform such as Steemit and Patreon.
ICO Begins Today
Token launch will begins today, September 18th. More information on how to participate may be found on the Circles website: