How does DEIP benefit from becoming part of the new NEAR ecosystem?

DEIP is pleased to announce we are now part of the NEAR ecosystem, working together in partnership to empower creators and grow the creator economy around the world. 

NEAR is a community (collective), a foundation, and a development platform built on an exciting new layer-one blockchain. NEAR is a sharded, proof-of-stake (POS), layer-one blockchain, designed for founders, developers, and members of the blockchain community. 

NEAR is an exciting community supporting Web3 and blockchain-based growth. Through its Open Web Collective, a blockchain accelerator program focused on Web3 technology and adoption, there are already over 500 community members and 20 Web3 startups. OWC startups have so far raised $72 million, with a combined valuation in the $610M range. 

DEIP is now part of this ecosystem — in partnership with NEAR — and supported by the NEAR protocol. 

NEAR’s vision explained

NEAR has a vision to “reimagine your world.” The project intends to achieve this in the following way: “Through simple, secure, and scalable technology, NEAR empowers millions to invent and explore new experiences. Business, creativity, and community are being reimagined for a more sustainable and inclusive future.” 

Alongside NEAR, the team behind DEIP has a similar vision: to empower creators and Web3 entrepreneurs with blockchain-based technology and tools to accelerate growth. 

Not only that, but NEAR has active bridges to Ethereum, Polkadot, Cosmos, and other high-traffic blockchain-based networks. NEAR also has a similar and complementary partnership with the Octopus Network, which we cover in more detail in other articles. 

NEAR understands the challenges inherent in the Creator Economy and has formed solutions that complement those we are creating at DEIP. These solutions make life better for creative entrepreneurs and creators everywhere. 

As NEAR see it, this economy “is generally a one-way path where the creator produces something (eg an album), gets fans to consume it (typically losing most of the proceeds to the middlemen who control their relationship with fans), and tries to earn real income from secondary revenue streams like concerts or merchandise or sponsorships.” 

NEAR aims to solve this broken system with the following approach: “key aspects of the Creator Economy are served by a specific set of tools which weren’t possible to combine like this before a platform like NEAR was available. This gives us a new Creator Economy Triangle, which shows how these tools — NFTs, DAOs, Fungible Tokens and Open Finance (DeFi) interact.” 

Creators on DEIP can now benefit from everything NEAR has been building. With NEAR and DEIP working together, creators and creative entrepreneurs everywhere are going to benefit from this partnership. 

Another layer to this partnership is the Octopus Network (which we will cover in more detail in other articles). DEIP plans to be an appchain on Octopus Network, allowing it to be deeply integrated with the entire NEAR ecosystem. At present, this integration between DEIP and NEAR is being audited by the Octopus Network, to give our users/customers access to every advantage of both networks. 

How creators will benefit from our partnership with NEAR 

DEIP Co-founder & CEO, Alex Shkor says, “We want every member and participant within DEIP to benefit from the most powerful features possible. We want to empower creators and artists, supporting the transformation of the creative economy into something that works for all creators and fans.” 

“As part of this, we are designing DEIP to be an advanced substrate-based chain, with interchain interoperability provided by a combination of NEAR and the Octopus Network. Once our connection has been approved and audited, that will bring the full benefits of NEAR and Octopus into play on the DEIP network, and likewise, NEAR and Octopus community members can benefit from the DEIP protocol”, Shkor concludes.

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