Calaxy is the world's first social media application designed by creators for creators, powered by Hedera Hashgraph.

100+

Creators using Calaxy

100m+

Aggregate social audience of Calaxy creators

$0.001 USD

fee for Calaxy Creator Token transfers

“Calaxy is excited to build the first true creator economy using the Hedera Token Service (HTS) on the public Hedera network — Hedera offers the performance, security, low fees, and configurable compliance needed to bring digital assets into the mainstream and adopted by millions of users.”

Spencer Dinwiddie

CEO and Founder, Calaxy

Industry

Social Media

Use Case

Payments & Digital Asset Tokenization

Overview

Calaxy is the world's first social media application designed by creators for creators, powered by Hedera Hashgraph.

Challenge

Applications for the creator economy connect millions of fans with creators around the world. Minting and transferring fungible and non-fungible tokens, in order for fans to engage with their favorite creator's and participate in their communities, must be fast and scalable with low, predictable fees.

Solution

Calaxy chose Hedera Hashgraph to improve minting and settlement times of creator tokens and NFTs from minutes to seconds, reduce transaction fees by over 99% compared to alternative public blockchains, and achieve an unmatched level of scalability to support millions of application end users.

The creator economy enables independent and mainstream artists, musicians, athletes, and more to connect with their fans in ways never before possible. And it's growing at an exponential pace, with the most popular platforms leading the charge. Patreon, a subscription platform for creators, has subscribed over 6 million monthly active patrons (1) — and fans on Cameo, a celebrity video messaging platform, have spent over $100 million on celebrity shout-outs in 2020 alone. (2)


It's no wonder that Calaxy, founded by NBA Player and entrepreneur Spencer Dinwiddie, is looking to disrupt this space in a way that removes centralized intermediary platforms and gives ownership back to creators: Calaxy was built by creators for creators. Calaxy chose Hedera Hashgraph to power their underlying Calaxy Creator Token and NFT infrastructure, enabling the speed, scalability, and cost required to connect millions of fans with creators worldwide.

Alternative public blockchains have expensive and unpredictable fees, slow settlement times, and unsustainable energy consumption.

Calaxy Creator Tokens reward fans with direct engagement opportunities. These engagements range from candid one-on-one conversations or voting on what clothing they wear for their next performance. By holding Calaxy Creator Tokens, fans can participate in premium experiences offered by creators, such as video calls and messages, paid direct messages, shoutouts, follows, fan club subscriptions, polls, and more.


In outlining requirements for their underlying public distributed ledger, Calaxy knew they had to choose wisely to create the most engaging end-user experience. Tokenizing and transferring digital assets on alternative public blockchains means dealing with volatile gas fees for smart contract execution, sometimes over $100 USD per transaction. It becomes financially impractical to use applications during periods of peak network congestion.


It also became apparent to the Calaxy team that the most ubiquitous public blockchains could not handle the sheer number of transactions required by Calaxy at scale. In parallel, settlement times must be instant for fans to utilize Calaxy Creator Tokens within the application immediately after purchase.


And finally, alternative public networks have the potential to fork, causing duplication of fungible and non-fungible tokens across multiple networks — it creates complexity that requires Calaxy, creators, and fans to choose which network is the source of truth.


With a stable and consistent end-user experience being paramount, Calaxy recognized that they needed an infrastructure solution that offered predictable fees, high throughput, and the ability to operate at web scale.

Calaxy gives the means of monetization back to creators.

Every Calaxy Creator Token on the Calaxy platform is created on Hedera using the Hedera Token Service and offers creators the ability to build their very own economy. Rather than keeping track of credits in a traditional database, all application stakeholders have transparency, insight, and guarantee of a token's existence and usage for exchanging value on the public Hedera network.


To support a rapidly growing user base, the infrastructure underlying the Calaxy application needed to offer high throughput, fast settlement times, predictable fees, and a no-fork guarantee. With these requirements met, Calaxy could enable a consistent end-user experience, resulting in superior application adoption, engagement, and retention by fans and creators.

Ensuring Calaxy Creator Token minting and transfers are scalable and offer real-time settlement.

Immediate settlement times for Calaxy Creator Tokens issued on Hedera ensure that creators and fans receive the benefit of low cost, real-time transfer of value, with certainty that their transaction was successful. Using Hedera, there's no waiting for block confirmations that slow down the end-user experience or making users wait to use their funds. These unique attributes extend to the minting and transfer of NFTs, representing exclusive content, art, and more by creators.


In addition to low latency, network throughput is just as critical to the end-user experience. The Hedera Token Service processes 10,000 transactions per second in a single shard (throttled) — that's over 100x the throughput of alternative public blockchains. With this ability to scale, Calaxy is confident that Hedera can keep up with fast user growth and engagement.

Low, predictable fees when transacting on Calaxy

Hedera has made minting and transferring fungible and non-fungible tokens on Calaxy low cost and effortless — it costs less than $1 USD in hbars to mint any number of fungible tokens or a single non-fungible token. And for transfers of any amount of Calaxy Creator Tokens, it costs a predictable, stable price of $0.001 USD.


The Hedera network resolves volatile "surge pricing" fees by ensuring that all transactions on Hedera are fixed in USD but paid in hbars; this is possible only through the network's excellent efficiency and high transaction throughput. Fixed transaction fees allow for more predictable business models and applications that function as intended at all times.


"Calaxy is excited to build the first true creator economy using the Hedera Token Service (HTS) on the public Hedera network," said Spencer Dinwiddie, CEO and Founder at Calaxy. "HTS offers the performance, security, low fees, and configurable compliance needed to bring digital assets into the mainstream and adopted by millions of users."

  1. https://backlinko.com/patreon-...

  2. https://www.forbes.com/sites/c...

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Hedera is not affiliated with, and does not sponsor or endorse this project.

Industry

Social Media

Use Case

Payments & Digital Asset Tokenization

Overview

Calaxy is the world's first social media application designed by creators for creators, powered by Hedera Hashgraph.

Challenge

Applications for the creator economy connect millions of fans with creators around the world. Minting and transferring fungible and non-fungible tokens, in order for fans to engage with their favorite creator's and participate in their communities, must be fast and scalable with low, predictable fees.

Solution

Calaxy chose Hedera Hashgraph to improve minting and settlement times of creator tokens and NFTs from minutes to seconds, reduce transaction fees by over 99% compared to alternative public blockchains, and achieve an unmatched level of scalability to support millions of application end users.

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