Rewards and creativity on the Internet have been underestimated for a long time. And that’s unfair for independent content creators and freelancers. 

At the dawn of the Internet era, some people were making money by selling their content online. The technical aspects of the Internet have now significantly improved, while the revenue model has fallen behind the time. To put it short, content creators do not get real revenue for the users’ likes. 

As technologies develop, everyone having a smartphone becomes a content creator. Particularly, some smartphone photos may have a high-quality resolution just like single-lens reflex cameras. The demand for a perfect mobile picture has become extremely high. So, there’s a lot of opportunities here which may come into existence only one way: by the realignment of the creativity rewards system.

LikeCoin 

LikeCoin aims to remake likes by rewarding creativity. Due to a reinvented Like button and the unique LikeRank algorithm, it would be possible to reward content creators by Proof of Creativity mechanism. 

So, the content may be directly monetized by the LikeCoin protocol. It means the content creators would focus just on creating greater content rather than on selling, promoting and choosing the best business and marketing models.

How it works?

Decentralized creative content library

The basis of LikeCoin protocol is a global, decentralized creative content library.

A LikeCoin service provider includes several participants: original creator, content adopter, and content distributor. Original creators make creative content and record the data on blockchain for other content creators to use. The content creator and the service provider both get LikeCoin as a reward when a content is Liked.

Elements in the LikeCoin Ecosystem
The collaborated content ecosystem involves various elements and stakeholders.
So here’s an example: 

• Alice takes A.jpg and upload to Apple.io;
• Bob writes B.txt on Banana.com; 
• Carol adopts their work to become C.doc on Cherry.net; 
• David shares A.jpg on Durian.org.

Creative content
The content is a digital photo, illustration, article, footage or sound clip. The creative content may be distributed to other users, according to certain copyright terms. Each creative content is represented by a unique content fingerprint in the LikeCoin ecosystem. 

Content creator
A person who produces a creative content.

Service provider
An application supporting LikeCoin by incorporating the LikeCoin attribution protocol and/or the reinvented Like button. 

Derivative work
One or more creative contents self-produced or produced by other content creators, on the same service provider.

Content adopter
The user on the service provider where derivative work is produced. 

Content source
Here a derivative work is adopted.

Content origin
A creative content without a content source (original content).

Distributed Content
A creative content produced by another creator without modification in the same or another service provider.

Ultimately, in the LikeCoin ecosystem, original creators and content adopters get LikeCoin through Proof of Creativity from the Creators’ Pool. The profit sharing mechanism is the key to incentivize content creators and service providers to adopt LikeCoin protocol. 

LikeCoin Tokens and ICO

LikeCoin token is a utility token based on Ethereum and is ERC-20 compliant.

Token Distribution
The total number of LikeCoin token is capped at 2bln and is divided into 4 pools: token sale (600 mln), ecosystem development (200 mln), team (200 mln) and creators (1 bln). 

Before the token sale takes place, 200 mln tokens in the ecosystem development pool will be provided to start the LikeCoin ecosystem creation. They will be used for sales and marketing, bounty programs, content rewarding creators.

During the public token sale, up to 600 mln tokens will be distributed proportionally to the amount in ETH provided by the investors.

Up to 200 mln tokens will be reserved for the team, advisors, and consultants with a vesting period of at least 48 months. Most of the team members will take LikeCoin as a compensation.

LikeCoin tokens are only exchangeable with ETH during token sale period. The standard rate is 1ETH to 40,000 LikeCoin, with optional bonus of  6 months lock up period.

Tokens will be sold in 4 stages: Early Believers (50% bonus, i.e. 20,000 extra LikeCoin per ETH), Institution (50% bonus), Early Bird (25% bonus) and Public Sale (no bonus except referral bonus). At the end of the token sale period, remaining tokens will be transferred to the Ecosystem Development Pool.

LikeCoin holders will not receive any voting rights at board meetings or shareholder meetings.

Conclusion

It’s time to change creativity reward system by offering reasonable rewards. This will maximize content creators creativity as they won’t have to think of subscribers, promotion and business model.

LikeCoin team is eager to cultivate the habit and culture of the voluntary payment for a high-quality content. It is expected that voluntary payment model will gradually develop for 10+ years so the community will get used to it. If a paradigm shift happens in 10 years and content creators would be able to make a living in the LikeCoin ecosystem it would be the ultimate success of LikeCoin team.

You can find detailed information on the following links:
Official website
Whitepaper
Telegram
ANN Bitcointalk
Github
Bitcointalk Username: CapnBDL
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=212645
My Ethereum address: 0x577FA2553Af35908072Af7fc61270fd98022002b