StoryFire is a web3 platform that aims to combine gaming, social media, and decentralized finance, enabling users to create and share content while utilizing its native token, $BLAZE. It incorporates features from platforms like YouTube, Twitter, and Wattpad, offering creators a way to earn from their work.^[1][2][3]

Overview

StoryFire, founded by Jesse Ridgway and Brian Spitz in 2017, was conceived as a platform combining features of YouTube, Twitter, and Wattpad, where users could pay creators with the onsite currency, Blaze, for original content. StoryFire seeks to address the fragmentation in the Web3 space by integrating SocialFi, GameFi, and DeFi sectors into a single platform to enhance user engagement.

In 2021, Ridgway offered an NFT that included the platform's source code, brand assets, and social media accounts, which sold for approximately $16,400. ^{[1][2][3][4][5]}

Products

Engage-to-Earn

StoryFire's "Engage-to-Earn" model aims to reward users with BLAZE tokens for activities such as gaming, content creation, and social interactions on the platform. The more users engage—whether by creating, liking, commenting, or sharing content—the more BLAZE they accumulate.

Additionally, a portion of monthly profits is redistributed as BLAZE tokens to active users, intending to connect Web3 solutions with familiar Web2 experiences.^[1]

Web2 to Web3

StoryFire was developed to address gaps in Web2 social media by providing greater earnings to creators and incentivizing user engagement. As the platform evolved into GameFi, it allowed for direct monetization in gaming. With the rise of Web3, StoryFire aims to integrate these advancements by using the BLAZE token to connect SocialFi, DeFi, and GameFi, and to incorporate Web3 solutions into Web2 environments.^[1]

Inkling

Inkling is a writing assistant developed by StoryFire to aid users with content creation, such as prompts, translation, and artwork. It uses the BLAZE token for access and is part of the platform's initial integration of AI technology, with further developments planned.^[1]

Ecosystem

The StoryFire ecosystem includes three key components: StoryFire, which supports social interactions and content creation through the $BLAZE token; Oasis, which bridges social and gaming experiences across Web2 and Web3; and DeFi, which integrates these aspects by providing users control over their online activities and personal value.^[1]

Storyfire: Socialfi

The StoryFire ecosystem consists of StoryFire: SocialFi, which supports user interactions and content creation, involving over two million users. It uses the BLAZE token for tipping, accessing exclusive content, and other interactive activities within the platform.^[1]

Storyfire: Oasis

StoryFire: Oasis is a component of the StoryFire ecosystem that uses the BLAZE token. It features nine mini-games and three exclusive areas, offering users the ability to purchase virtual land, customize skins and NFTs, and participate in in-game transactions.^[1]

Storyfire: DeFi

StoryFire: DeFi introduces a wallet system, developed with LifeDefi Wallet, for use across StoryFire platforms. This system allows users to trade, use, and transfer BLAZE tokens within the ecosystem and other decentralized applications.^[1]

Tokenomics

Storyfire Token ($BLAZE)

BLAZE will be implemented as a MATIC token, leveraging the Polygon ecosystem to introduce its initial use cases on the StoryFire platform. As the universal currency for all transactions, BLAZE will be earned in the Metaverse and spent throughout the broader StoryFire ecosystem or exchanged for other crypto tokens. By circulating BLAZE, StoryFire aims to incentivize creators and users to engage with each other, communities at large, and fans, driving token utility across the platform.^[1]

Utility

The BLAZE token supports various functions within the StoryFire ecosystem, benefiting different user groups.

• For Creators:
  • Early monetization of content.
  • Higher revenue share compared to other platforms.
  • Access to advanced tools such as Inkling AI.
• For Users:
  • Earn BLAZE through gaming and content engagement.
  • Receive BLAZE for watching ads.
  • View more relevant ads based on preferences.
• For Advertisers:
  • Access to detailed user data for improved ad targeting.^[1]

Allocation

StoryFire's token allocation is structured to support the platform's development and growth across various areas. The allocation is as follows:

• Platform Advisors & Partners: 10%
• Seed Round: 3.33%
• KOL Round: 4.29%
• Community Round: 1%
• Treasury: 10.38%
• Operations Reserve: 10%
• Liquidity & Market Making: 15%
• Team: 10%
• Creator Fund: 10%
• Creator & User Rewards: 10%
• Web3 Community Growth: 10%^[1]

Creator Fund

The Creator Fund aims to support amateur creators through community votes and contests by allocating 10% of the initial token supply for rewards such as premium subscriptions and content promotion. Tokens are used to provide services and perks on behalf of creators rather than being given directly to them. Additionally, 2% of ad revenue is designated for covering creator expenses like equipment and software.^[1]

Associate Program

The Associate Program on StoryFire provides established creators or organizations the opportunity to partner with emerging creators. Associates are recognized with a gold channel badge and receive a percentage of the $BLAZE profits earned by their partnered creators for a designated period. The program aims to encourage collaboration and support new talent within the community.^[6]