VERO Labs will launch a custom L1 blockchain on Avalanche to support creators, empower fan engagement, and unlock new revenue opportunities. VERO Labs, the social technology firm behind the ad-free social network VERO, has announced its plan to launch a custom Layer 1 (L1) blockchain on the Avalanche network. According to the press release, this development will be unveiled during Abu Dhabi Finance Week. It seeks to take advantage of the many-trillion-dollar fan-based asset economy. It also opens up new creative and economic possibilities for fans and creators, to connect and make commitments. The L1 blockchain will support VERO’s Community Finance (CoFi) model. This model helps creators, sports teams, and IP owners raise funds from fans. Fans can do more than just support; they can share
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Bilal Hassan considers the following as important: Avalanche, Blockchain Technology, Custom Blockchain, News, VERO Labs
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VERO Labs will launch a custom L1 blockchain on Avalanche to support creators, empower fan engagement, and unlock new revenue opportunities.
VERO Labs, the social technology firm behind the ad-free social network VERO, has announced its plan to launch a custom Layer 1 (L1) blockchain on the Avalanche network. According to the press release, this development will be unveiled during Abu Dhabi Finance Week. It seeks to take advantage of the many-trillion-dollar fan-based asset economy. It also opens up new creative and economic possibilities for fans and creators, to connect and make commitments.
The L1 blockchain will support VERO’s Community Finance (CoFi) model. This model helps creators, sports teams, and IP owners raise funds from fans. Fans can do more than just support; they can share in the success of their favorite personalities. This approach strengthens fan engagement and fosters a deeper connection. The latest Avalanche9000 testnet also means faster transactions, more security, and better scalability for VERO users.
John Nahas, Chief Business Officer at Ava Labs, said the move is major for community finance. He pointed to VERO’s ability to enhance audience engagement between authors and viewers and support the growth of communities and valuable, long-term opportunities. As Nahas put it, this partnership is intended to enable superfans and expand participation.
VERO Partners with Avalanche to Empower Creators and Fans
VERO Labs works with licensed IP holders across different areas of specialty such as sports, movies, television shows, and music to foster participation. The platform helps creators extend token-accessed features, content, and artwork with limited availability. VERO Labs has all the licenses for banking, broker-dealer, and ATS operations, this means that this company can effectively control the trading of securities and digital assets. This structure enables fans to incorporate their favorite creators’ success through asset tokenization.
The integration is also deemed to be strategic by Ayman Hariri, the CEO of VERO Labs. He pointed out that expansion on Avalanche would help improve VERO’s capacity. Consequently, this will offer more solutions for creators and fans to engage and monetize. Further, Hariri noted that the partnership would enable creators to construct better digital environments surrounding fans.
Additionally, the launch represents a paradigm shift in how content producers can generate revenue. The CoFi model of VERO provides more control over earnings rather than relying on more conventional monetization strategies. This model is on the verge of revolutionizing the way creative people engage with the public as the digital asset market expands.
For creators, opportunities in the metaverse have long been a point of discussion; the cooperation of VERO and Avalanche also intends to build a more inclusive world. It is in this regard that this approach could help more creators to benefit from fan funded financial models. It will allow fans to become stakeholders in the success of creators, teams, and franchises. This change is expected to redefine participation in digital media, sporting, and entertainment activities, unlocking opportunities for economic development.