Essential Terms

Definitions

  • Creator: any entity engaged online who creates work shared online either for free, with or without advertisements, or in exchange for a certain amount of any currency (cryptocurrency or FIAT). This can be via a one-time payment or through a recurring subscription fee.

  • User: any entity engaged online who consumes a Creator’s work online either for free, with or without advertisements, or in exchange of a certain amount of any currency (cryptocurrency or FIAT), with a one-time payment or through a recurring subscription fee.

  • Advertiser: any publisher, marketer, business, organization or charity that needs to promote itself and are willing to pay for it.

  • Content/Creator Work: any work shared by a Creator to their Community including texts, images, graphics, audios, videos. . .

  • Governance and Utility Token: FRK

  • Social Media Platforms: any platform such as Discord, Telegram, Facebook, Twitter, and Instagram where the User has friends, fans or followers and the advertiser pays to distribute their content.

  • Community: the people that a Creator knows, where the relationship is managed on any online channel/platform. It does not refer to any particular social platform.

  • Creator Economy: similar to the gig economy, a system where Creators are rewarded or are sharing content to their social network.

  • Smart Contract: business instructions that are programmed in the blockchain and executed along with a transaction to enforce the terms of a relationship.

  • Qualified Interaction: interaction made by a User with a Creator Work counted in the purpose of paying Users and Creators (ie watching a Youtube video).

  • Standard Period : period of reference to calculate Revenue Sharing with Creators. Originally set at 1 (one) week.

  • Initial Price: Price for the minting of one Fraktion during the first Standard Period.

  • Current Price: Recalculated price for the minting of one Fraktion the first Standard Period.

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