By EWN • 16 December 2022 • 14:25
Copyright issues are common legal issues in both print and digital media. Of all issues, piracy stands out as a never-ending battle between hardworking creators and greedy individuals looking to make cheap profits. Piracy has existed since the advent of print media and has left creators hanging dry in finance.
A new cryptocurrency has come up with a solution for creators, especially in storytelling and illustration, that would completely solve the issue of piracy and ensure that Cryptoons (CTOON) stay ahead of Dogecoin (DOGE) and Dai (DAI).
The Cryptoons initiative aims to empower creators and rewards them for their creativity by incorporating blockchain technology into comic books, manga, and Webtoons. The creators would have full rights over their original works. Cryptoons will create an NFT Factory that allows creators to market and sell their comics or mangaka after converting them to Non-Fungible Tokens (NFTs).
Cryptoons would be powered by its native token, CTOON, allowing fans to purchase these original NFTs. Cryptoons (CTOON) would link the fans directly to the creators without needing a third party which could be an agent of piracy. The benefit of bypassing a third party in the distribution chain of comics, webtoons, and mangaka allows for a more transparent approach to the purchasing of these forms of print media.
Cryptoons (CTOON) also wants to create a loan pool for its users that would enable them to use their owned NFT as collateral to take loans in CTOON. Users who contribute to the pool would be entitled to interest from the pool.
Dogecoin (DOGE) is a popular meme coin that Billy Markus and Jackson Palmer created. It was initially a joke token for Peer-to-Peer (P2P) transactions. However, it quickly became a staple in the crypto market because of its popularity. DOGE uses a Peer-to-Peer (P2P) open-source code. It is based on litecoin and utilizes its same proof of work technology.
Dogecoin (DOGE) is a well-traded token and is frequently used as a tipping currency for social media. DOGE has a strong community and is backed by the hype of its passionate community. Dogecoin’s (DOGE) value skyrocketed at the end of 2017 as its popularity peaked.
A decentralized stablecoin built on the Ethereum blockchain is called Dai (DAI). It tries to lessen volatility while keeping its dollar peg. In 2015, MakerDAO introduced Dai (DAI). Rune Christiansen started MakerDAO. Since more people want to be paid in a currency that doesn’t depreciate noticeably, Dai has maintained excellent stability over the years.
Stablecoins like DAI were created as a result of this issue. The ERC-20 DAI token aspires to be simple to create, access, and use. Since its inception, Dai has been successful because it is simple to use. It is currently one of the most popular stablecoins worldwide.
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