Los Angeles, CA, July 21, 2022 (GLOBE NEWSWIRE) — X.LA Foundation (https://x.la), the decentralized autonomous organization (DAO) that is changing how IP creators, owners and holders generate and earn revenue, has launched its new branding with a series of products and websites.
Products include a Metamall with building blocks to support the creation of content and design in the Metaverse, as well as a credit card and a technology based on NFTs and Revenue Share Smart Contracts (RSCs) to enable long-tail revenue earning and distribution.
Shurick Agapitov, CEO and co-founder of X.LA Foundation, also created its sister company Xsolla, the leading fintech transaction and business engine for video games that is now a multi-billion dollar company supporting the largest game companies and titles in the industry. He said of the new launch:
“If in Web2, business has been earning off of users’ data, in Web3, we are seeing the birth of a new economy, in which users will not only own their own content but also monetize it. No single entity can own Web3 – it’s all about the community. That is why X.LA is a DAO dedicated to empowering creators to earn their fair share. As such, X.LA will play a central role in powering the new Creator Economy.”
How it Works
X.LA is creating services that will become a cornerstone of Web3 infrastructure. It uses blockchain-based Revenue Share Smart Contracts (RSCs) to automate revenue-distribution and payments. Evolving gaming NFT standards will enable users to mint customized RSCs based on their terms and specific needs. Creators can thus collect revenue across industries and projects when their intellectual property is shared, licensed, and monetized. Royalties are paid via the X.LA credit card and funds are instantly received.
These are revolutionary innovations because in the Web3 economy, anyone can become an entrepreneur.
Products to Build the New Economy
“Metamall” showcases the entire X.LA ecosystem with all its products and opportunities. It provides creators with the tools and building blocks needed to build various elements and components of the metaverse. Using it, they can create, rent, let, and sell virtual real estate in highly realistic cityscapes.
“Story3” is an AI-powered, intuitive interface that generates content to help users create engaging written and visual story-telling and to then monetize it in the metaverse.
Gamified airdrops called “Babka Drops” can be used by creators to engage their communities and for influencer marketing.
“Web3 Hollywood Commerce” are tools that use NFT technology to enable a business engine that promotes the storytelling of Hollywood creators – including everything from opportunity discovery to deal configuration, development and distribution for revenue generation.
Visit X.LA for details.
About X.LA Foundation
The X.LA Foundation leverages blockchain and Web3 technologies to empower IP creators, owners and holders, giving them greater control over how their data and IP is shared, licensed, and monetized. .
By democratizing rights ownership and management, the X.LA Foundation eliminates the need for costly legal services and levels the playing field between creators and distributors.
The X.LA Foundation team consists of experts from across media, entertainment, and games with proven track records in developing and publishing world class products, software solutions and games that have empowered & entertained consumers, gamers and IP creators, owners and holders worldwide. .
The X.LA community welcomes contractors, creators, influencers, thinkers, inventors, and many others to come together to help define, shape, and develop the new future of the Web3 economy.