Glass XYZ is a video-led NFT start-up platform trying to bring the creator video market into web3 by providing incentives for NFT investors, creators and fans to buy videos with NFTs.
Currently, big video platforms like YouTube and TikTok only pay creators a portion of the ad revenue that their videos generate based on views. Whereas, Glass’ model allows audiences to dictate the monetary value of a video based on its quality with the platform selectively deciding which videos to promote based on their quality.
Founded in 2021 by three University of Chicago alumni, Varun Iyer, Sam Sendelbach and Dayo Adeosun, the company hopes to make its platform openly accessible to all creators and audiences, like YouTube or TikTok, to leverage TCG Crypto’s connections to expand those creator partnerships.
In the past year, the seven-person company has generated around $1.8 million in revenue for its 120 creators (that’s over $16,600 on average per creator), and the company itself has brought in about $100,000 in revenue from NFT revenue splits.
The company has transitioned its interface from Ethereum to the popular blockchain platform Solana, due to the fact that its founders believe it to be faster, cheaper and better. Music videos are the main bulk of content found on the platform.
I had the privilege of speaking to Dayo via Zoom after meeting him in a Twitter space with Reveel (a finance manager platform for NFT projects). What struck me most about our conversation is when he asked me, as a creative, where does video sit in my world. My authentic and honest answer was “in the centre”.
Even though I consider myself a music artist first and foremost, video sits at the centre of everything I do. If I’m on set shooting a cover I’m almost more concerned about BTS content being taken than I am for the actual photo. This is because this content is so malleable, so usable and often gives followers and fans closer insight into your world. Everytime I write a song, I consider the visuals that will match with it and collaborate with a visual team to create this world.
As we move into the metaverse, artists will be expected to know how to curate a tangible world that merges the visual with the audial and the sensual.
Glass XYZ: The Web3 platform reminding creatives to put video first
