X.LA To Facilitate Revenue Sharing In Web3, Brings Metamall Products
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X.LA To Facilitate Revenue Sharing In Web3, Brings Metamall Products

By CIOReview | Monday, August 1, 2022

The community-built DAO business engine will power the future economy.

FREMONT, CA: In tandem with the development of the internet, businesses must keep up with technological advancements and new market demands. Web 3.0 can disrupt traditional companies by empowering them with greater decentralization, transparency, and accountability. The unique characteristics of Web 3.0, such as the incorporation of AI, semantic web, ubiquity, DLT, smart contracts, and 3-D graphics, will unquestionably elevate business models and strategies. X.LA Foundation, the decentralized autonomous organization (DAO) that is altering how IP creators, owners, and holders generate and earn revenue, has come up with a series of new products and websites bearing its new branding.

“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 its 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,” explains Shurick Agapitov, CEO and co-founder of X.LA Foundation.

Products include a Metamall with building blocks to support the creation of content and design in the Metaverse, a credit card, and technology based on Non-Fungible Tokens (NFTs) and Revenue Share Smart Contracts (RSCs) to enable long-tail revenue earning and distribution.

Shurick Agapitov also founded Xsolla, the leading fintech transaction and business engine for video games, a multi-billion dollar company that supports the industry's largest game companies and titles.

X.LA is developing services that will form the backbone of the Web3 infrastructure. It uses Revenue Share Smart Contracts (RSCs) based on blockchain technology to automate revenue distribution and payments. Evolving gaming NFT standards will enable users to mint RSCs tailored to their specific terms and requirements. When their intellectual property is shared, licensed, and monetized, creators can generate revenue across industries and projects. Royalties are paid through the X.LA credit card, and funds are received instantly.

These innovations are revolutionary because anyone can become an entrepreneur in the Web3 economy.

Metamall displays the entirety of the X.LA ecosystem, including all of its products and opportunities. It provides creators with the tools and building blocks required to construct various metaverse elements and components. Using this technology, they can create, rent, let, and sell virtual real estate in realistic cityscapes. Story3 is an intuitive, AI-powered interface that generates content to assist users in creating engaging written and visual narratives, which can then be monetized in the Metaverse. Creators can use gamified airdrops called Babka Drops to engage their communities and for influencer marketing. Web3 Hollywood Commerce is a set of tools that utilize NFT technology to enable a business engine that promotes the storytelling of Hollywood creators, including opportunity discovery, deal configuration, development, and distribution for revenue generation.