They say necessity is the mother of invention, and in a way, Eve World’s vision was born out of necessity — a need for a free and responsible virtual space for women, where everyone gets an equal shot at value creation. A space where creativity and expression aren’t hampered by fear, a world of freedom where an organization doesn’t determine what you deserve. Self-governance, ownership, active participation in deciding on the future — all this and more is coto, our much-anticipated Web3 social community platform designed for women.
Here’s a glimpse into the brand and its values, how it rests on the power of Web3 and decentralisation, and what to look forward to.
What is coto?
At its essence, coto is a Web3 social community platform exclusively for women, built on the promise of consent and continual ownership. A one-point destination for women all over the world, complete with multiple formats of content. An engaging, dynamic space where you can just be. Shaped by women, for women.
Why “coto”?
coto’, which is ‘come together’, is a thought and intention that’s consistently reflected across Eve World, and now, across the brand that is coto.
It represents a world that isn’t just free and responsible but is also one that’s built on participative ownership, where women have the space to express, engage, and be rewarded without toxicity.
With Web3, both the creators and communities have actual skin in the game. The ownership is not just restricted to the content that’s being created; creators and communities also hold actual value in participating in the platform. This synergy between creators and communities drives the Web3 evolution that coto will reflect and enable.
coto’s Relationship With Web3 And Blockchain
coto will enable women to focus on what’s truly important to them, and building on Web3 principles is what helps us ensure this. After all, the lack of ownership has been one of Web2’s biggest drawbacks; from algorithm black boxes to data breaches, it’s turned users against its big tech companies like Facebook, Apple, and Amazon. Whether it’s your content, your data, or your identity, all of it is fungible on Web2. Turning away from that and towards participative ownership is Web3, enabling coto’s members to freely create, curate, consume and own content.
Self Governing Mechanism
coto being a Web3-based platform enables it to be a healthy environment. This is where the use of self-governing councils comes in. Instead of having an admin, leader, or head, a council is governed by its community, and community-derived rules help members decide on new features and functionality. This gives the users the power to chalk out the roadmap for the platform and its communities.
This self-governed system can make use of governance tokens, which financially incentivise members to vote and participate. Governance tokens are used to ensure that the integrity of the community is never compromised. It enables members to be aligned with the larger objectives of the ecosystem. The functional and financial value of tokens gives members the power and incentive to participate in making the system successful for everyone; this way, everybody is a part of a positive-sum game.
We incentivise members to be as participative as possible and are what give Web3 its nature of participative ownership; you no longer simply ‘make up’ a community, you are the community. It’s our step in the direction of being a DAO — decentralised autonomous organisation.
In line with this, we have already started interacting with some incredible women across the globe on the Eve World Discord server. They come from diverse backgrounds, but share one common goal of creating effective communities.
Blockchain Technology And Token Economies
Decentralised in nature, blockchain technology allows coto members to partake in a token economy. The circularity of the token economy is such that members are rewarded for performing varied tasks. The underlying goal of these tasks is to generate value for either fellow users or the end-user. Each task is a ‘unit of work’. The objective of each ‘unit of work’ is to contribute toward value creation.
For performing the tasks, the members are rewarded with a token currency that is native to the platform. This currency could be spent on the platform or exchanged against another crypto or fiat currency. The value of the platform is determined by the activities performed on the platform and thus by extension, the value created.
This way, the revenue generated from the community is passed on to the owners of the community. Arbitrary likes and views are no longer what defines the value of the content, and members get rewarded for participation, further encouraging interaction and creation.
Why An App Like This?
For a long-time, Web2 or big tech companies (FAANGM i.e. Facebook, Apple, Amazon, Netflix, Google, Microsoft, and others) have ruled the roost when it comes to the creation and consumption of content on the internet. As they’ve scaled, their users’ well-being and priorities have taken a back seat. Hence, people are now waking up to a lack of value creation when it comes to their digital presence on Web2.
Plus, it shouldn’t come as a surprise that the safety and security mechanisms on existing social media platforms can’t keep up with the trolls, unsolicited messages, and threats. And, the unfortunate truth remains that women are largely on the receiving end of the toxicity.
The nature of Web2 has made it a world where creators cannot truly flourish. Web2 platforms have only continued to grow bigger and more profitable; it’s the creators on such platforms that have been driving this profit, and yet, they’ve received little to no benefit from it. Additionally, they’re faced with limited monetization options, leaving them vastly underpaid for their content and fighting the ‘views’ and ‘likes’ system that decides their content’s worth.
At the end of the day, profitable or not, a creator’s content on a Web2 platform isn’t truly owned by them and they remain at the mercy of algorithms. All the while, the world as we know it has inched closer to and is now on the brink of a huge evolution — Web3. Though it’s just the beginning, women aren’t as part of the conversations that drive this change as they could and should be.
All these factors together create whitespace of a responsible, comprehensive digital environment for women, one that enables them to use crypto while being a decentralised economy that encourages micro-entrepreneurs and entrepreneurs. It is this whitespace that coto aims to fill.
The Brand Philosophy
Team Eve shared a common vision for Eve World, one which is now reflected in coto — to build on the values of identity, independence, and inclusiveness as we unleash a new digital space for women that enables creativity without bounds.
coto takes this a step further by being an invitation to young women to enter a world of no limits, one of joy, imagination, and play.
In several ways, coto and ‘limitless’ are synonymous. coto is quite literally a space of limitless possibility, and it enables and empowers its members to enjoy a complete digital experience, in a world created by them and for them, without limits.
Design And Aesthetics
Warm, inviting, fun, reliable — there was a lot that had to be represented in coto’s logo. In terms of a design perspective, a bold geometric typeface with elegantly rounded edges perfectly captures the warmth and playfulness of the brand. Rather than standardize it with upper-case, we’ve opted for a lowercase expression, meant to denote the inherent uniqueness and individuality of every person. What’s more, the ‘t’ and the ‘o’ blend together in a harmonious yet powerful expression of what the brand stands for and is built to do — bring people together.
In terms of a color palette, violet came out as the ideal choice, since it effortlessly evokes independence and creativity while being pleasing to the eye. The colour perfectly captures our vision for the future, one of determination and joy, while sparking inspiration in our members to create and express themselves.
Looking To The Future
coto will be a natural extension of Eve World, synergizing seamlessly, and resting on the pillars of uplifting, inspiring, empowering and enabling together.
The timing couldn’t be more right for coto. A place for women to own together, decide together, solve together, nurture together, be free together, come together.
By Aparna Acharekar, Rajneel Kumar, and Tarun Katial
coto Founding Team
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