CLM Coin: What is CoinClaim and how does it work?

CLM Coin is a token issued by a private company called CoinClaim and is used as a payment token to complete small tasks. When I say small I mean really small. Like watch a YouTube video or comment and share something on Facebook.

CLM Coin
CLM Coin

That sounds weird. Why do they do that?

Apparently there is a market for these kind of tasks. Say you are just starting off as a YouTube creator and you want to get the ball rolling with some views. Rather than relying on Google’s algorithm to show your video to people, you can pay a minuscule amount to get those views.

For example, here is a video about how to make slime that is paying users in CLM coin in exchange for watching their video.

Example of a video that rewards you in CLM Coin for watching it.

There are two benefits to doing this:

  1. It could create a snowball effect. Comments, likes and shares are probably good indicators to social media platforms that users enjoy this content. It will likely feed into their algorithm and show the content to more users.
  2. If your content generates revenue from advertising there may be an opportunity for arbitrage. If the dollar value of CLM coin I pay to users is less that the dollars I make from advertising then I stand to make a profit.

The people behind ClaimCoin come from the gambling and affiliate marketing industry. Hence they probably see a good business opportunity.

Great so where can I earn CLM coin?

There are 2 platforms. Both are very similar and the people behind them are the same people behind CLM coin.

1. Satorify.io

Satorify is a gamified platform where you can do a bunch of tasks in exchange for CLM. Below is the dashboard with the tasks available as well as how much CLM Coin I can earn.

List satorify tasks paid in CLM coin
The first tasks I was assigned on Satorify.io

For example, if I view an image on instagram I receive 50 CLM. Given that the price of CLM is 0.00015448 this means I would get paid $0.0077515 for this task. So, if I do a 1,000 of these tasks I get around 7 bucks. $7 is a lot of money in some countries.

You can see how it could be attractive for a YouTuber to pay $7 for 1000 views. If they are able to make more than $7 per 1000 views (known as CPM in the ad industry) then they can make a profit. This site shows that it really depends on the country.

CPMs can range from close to 0 all the way to $40.

The tasks are gamified with cards. For each of the tasks you also earn a card. Once you collect 12 unique cards you get an amazon voucher for $25-$100 as a reward.

You can exchange cards or buy them. There are also a bunch of other items you can win like chest slots and gifts as you level up.

Satorify rewards
Satorify rewards

The site also includes some tasks with larger rewards that they pay in you Bitcoin. This is traditional affiliate marketing where in exchange for referring someone to a casino they reward you in bitcoin.

screenshot of Satorify tasks
Satorify tasks that pay in bitcoin

2. Loudhailer.io

If you think of Satorify as responsible for finding the supply then Loudhailer is the platform generating the demand.

On Loudhailer any person who wants to promote their content can sign up to pay for engagement.

You can pay as you go or can purchase a subscription package of 4,000 credits where each credit gets you some kind of engagement: a like, view, share, comment etc.

There is no mention of CLM coins on the site but 4,000 credits cost $49 implying a $12.25 cost per 1000 engagements.

With 1000 engagements costing the Claim Coin $7 in CLM Coin that implies a ~40% profit margin for the business.

Not bad.

Loudhailer review
A loudhailer testimonial

On Loudhailer too there are offers to become an affiliate.

Again this only involves casinos for the time being.

This is good cross selling because the people looking to buy engagements will want to monetize their content somehow.

CLM coin characteristics

CLM Coin is a BEP-20 coin. This means it is issued on the Binance Smart Chain (BSc).

It used to be on Ethereum as an ERC-20 Coin but early feedback I read on Trust Pilot shows that users were unhappy with Ethereum due to the high gas fees.

The average transaction on BSc doesn’t cost more than a few cents. For a platform that manages micropayments it makes way more sense for them to be on Binance rather than Ethereum.

Currently there are 2Mn coins in supply and the price is extremely low at 0.00015448.

Over 1Mn coins have been distributed. I don’t imagine the supply is fixed but I didn’t find any resources about that.

CLM Coin supply and address
CLM Coin supply and address Source: BscScan.com

Currently, as of August 2022, you can buy and sell CLM Coin on p2pb2b.io and stex.com exchanges.

CLM Coin never had an ICO and is managed privately. This might sound contradictory for something that is on a blockchain but CoinClaim is less interested in decentralization and more interested in being able to do micropayments.

Using a cryptocurrency however aligns with the company’s narrative of being transparent and ensuring the final recipient gets paid without any intermediaries.

I am not familiar with this type of affiliate business model but I am sure that end users appreciate the transparency of a blockchain.

Wrapping up Claim Coin

When I first started reading about Claim Coin I thought it didn’t have the gravitas that other crypto projects I write about have. It’s not going to change the world. It hasn’t introduced any amazing innovation in the crypto space. And getting people to watch videos they would not otherwise have watched sounds like cheating.

I almost didn’t write about it.

But CoinClaim has been around since 2018 and there are two aspects about it that are really fascinating.

The first is that Claim Coin and its CLM Coin is the first project to use micropayments. Please correct me and comment below if you know of any others.

People have been talking about micropayments since 2014. Many believe that micropayments are one of the core benefits of crypto.

For example, you wouldn’t need to pay for a subscription any more to your favorite news site. You could pay just a few cents per article. On the spot.

Yet to date no-one has tried this. And here you have this tiny gimmicky upstart company that is using micropayments.

Secondly, it is one of the first commercial implementations of blockchain technology that does not relate to finance.

If you want to read about another non finance related crypto check out what is helium mining (which is a whole different ball game).

The CLM guys just wanted a way to implement their business idea and blockchain suited them well.

I am curious to see how the business will evolve in the future

If you enjoyed this article make sure to follow me on Twitter @lementalcrypto

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