All of a sudden, in the midst of the global pandemic, the word "creative economy" started to emerge in the startup world, and we thought our time had come to shine. Little did we know that the crypto bull market would attract a plethora of founders backed by massive funding rounds, taking over the media landscape as leading brands in this nascent design space, with all sorts of platforms from web2 subscription services, to NFT marketplaces, to social tokens.
After running RLHF on a Generative Adversarial Network (GAN) we realised the power of a self-improving system and had a big idea:
“What if the value of Newlife was not the AI model, but the feedback-based algorithmic reputation for creators? And what if we could use this algorithm as a substrate for the whole internet, allowing applications of all kinds to instantly query the merits of a creator to enhance the training of their AI models, forming a network of reinforcing intelligent agents.”
That's how the idea for Newcoin was born. In June 2021, we organized a private sale of tokens and the following months recruited a team of 7 engineers to build the Newcoin protocol. While everyone was selling millions of dollars of NFTs, we knew that it would end the same way as the ICO craze in 2018, and we kept building in accordance with our thesis; in the digital world, data is creative energy and creative energy is data.