What is Creator Protocol (CRE)? Is It a Good Investment?
Livestreaming has become a lucrative business with estimates that it’s a $20 billion per year industry. This has led to a lot of companies that offer livestreaming services appearing all over the internet and even on the blockchain.
Unfortunately, there is not currently a particularly viable livestreaming service on any blockchain. Creator Protocol is one livestreaming service that plans to launch in December 2022, but it remains to be seen if this launch will actually happen. This article will cover everything you need to know about Creator Protocol.
What is Creator Protocol?
Creator Protocol is a livestreaming project on the Binance Smart Chain that is set to launch some sort of livestreaming service in December 2022. Now, Creator Protocol is not actually launching a livestreaming protocol – that would be a little too difficult for such a small project. Instead, they are going to launch what is effectively a dashboard that livestreamers can use as a platform from which they can receive donations.
Basically, a livestreamer can stream on Twitch and then receive donations through Creator Protocol’s native CRE token.
The project, of course, was funded by a pre-sale of CRE token on PancakeSwap. There was no viable project at the time of launch. Just a bunch of promises in the white paper.
As you can probably imagine, we have a lot of problems with this project. The next section will cover some of the problems with Creator Protocol.
Problems with Creator Protocol (CRE)
This project has so many red flags. In this section we will cover some of the biggest red flags and why these are red flags.
It’s important to note that red flags do not mean the project is not legitimate, but it does raise suspicions.
Are The Doxxed Founders Real?
The first major red flag with Creator Protocol is that not much information is available about the doxxed founders. This is a red flag because almost every cryptocurrency project with anonymous founders ends up being a scam of some type, so scam projects will create fake founders in order to raise less suspicion.
Anonymous founders abandoning a project with everyone’s money has become such a big problem that we do not even bother investing in projects with anonymous founders anymore.
This is especially true with a project like Creator Protocol that is essentially a business. Would any investor invest in a business with an anonymous founder?
No, they would not. A doxxed founder means investors have legal recourse if the founder steals all the money.
An apt comparison would be, would anyone have invested in Twitch if the founders remained anonymous?
The answer is a resounding no.
Binance Smart Chain Project
Binance Smart Chain has a lot of scams on it. In fact, it seems that every project on Binance Smart Chain is a scam, which has led to people calling it the Binance Scam Chain.
A project being launched on Binance Smart Chain is not a reason to discount it. However, it does not help when other obvious red flags appear in a project.
The Idea Doesn’t Make Sense
Finally, the idea of Creator Protocol does not really make sense to us. Creator Protocol is not actually a streaming platform. It’s basically just a platform for streamers to accept donations, but streamers could just do this with a more reputable cryptocurrency like Bitcoin. What is the purpose of having a separate cryptocurrency to accept donations?
Someone could simply watch a stream and then donate to a crypto link that the streamer publishes.
Now, Creator Protocol claims that it will aggregate streams from different platforms onto the Creator Protocol platform, but is this even allowed by the terms of service?
We do not foresee streaming sites being happy that they must pay all the costs to host a stream, but will not receive a commission on the donations.
In the unlikely event that this project launches, it will probably get shutdown by streaming services if it ever gains any amount of traction. The streaming services will simply lose too much money with it.
Is Creator Protocol (CRE) a Scam?
We will not call Creator Protocol a scam. However, this project does not look very promising for the reasons listed above:
- The identities of the founders can’t be verified.
- It’s on the Binance Smart Chain.
- The idea does not seem possible nor like a particularly good one.
- Streaming services will shut it down because it takes money out of their pocket.
- Why would viewers use it rather than simply watching on Twitch, YouTube, or any other streaming platform?
Is Creator Protocol (CRE) a Good Investment?
No, we would not consider Creator Protocol (CRE) a good investment. The price history chart of CRE looks terrible and like a project that has already exit scammed:
That’s not the type of price chart you want to see on a project before it has even launched a product.
It also appears that the project is dead. It has a 24 hour trading volume of $34 and Coinmarketcap does not even list the market cap of the project.
So, even if the price of the token went up, you would not be able to sell it because there’s no demand for it.
To summarize, Creator Protocol is a project that you should avoid. The idea behind the project is not good and the price history chart appears to indicate that the project has already exit scammed.
There are better projects out there that are solving real problems and do not appear to be exit scams. You should invest in projects like that rather than projects like this.