Create a Community Splits Contract
This guide provides step by step instructions for creating a community splits smart contract that can receive and split earnings on blockchain.
Last updated
This guide provides step by step instructions for creating a community splits smart contract that can receive and split earnings on blockchain.
Last updated
Distribution is one of the hardest challenges facing creators on the Internet. Algorithms and middlemen often intermediate our relationships and make it difficult to build sustainable audiences, communities and businesses. Community splits empower you to incentivize large groups of people to participate in your journey rather than passively consuming. You can use community splits to share revenue with fans, communities and collaborators and build a dataset including phone numbers and email addresses of your stakeholders that enable you to contact them directly for future opportunities like D2C sales. Community splits is a strategic solution for driving your customer acquisition cost down and building connections that are not dependent on social media platforms with algorithmic policies.
A community splits contract is a type of smart contract which enables you to share a link, let anyone tap a "JOIN" button, and become a partner with you by earning a portion of revenues connected to the contract. For example, revenue from streaming or revenue from D2C sales of beats, songs and videos. You can create community splits contracts that have up to 10,000 stakeholders.
Go to the SHARE https://share.formless.xyz and press the Create button on the top right.
Select Make Payments to Your Community. Here, we're going to create a smart contract that can receive payouts and fractionalize them among a large group of stakeholders.
Enter the following details:
Title
A title for your community splits contract, e.g. "MY SPLITS CONTRACT".
Description
A description for your community splits contract.
Creator Name
The name of the creator of your community splits contract.
You can leave everything else as the default value.
Press Create. After a minute or so, your smart contract will be created and ready for use. You can tap the View Standalone Splits Link button to see the shareable link that artists can distribute to fans in order to receive splits.
Done!
