Sunday, March 25, 2018

While Facebook rushes headlong down the path of MySpace, a new social media app seeks to reward users with cryptocurrency

The last two weeks have provided major revelations regarding the 'king' of social media as Facebook not only experienced multiple headwinds which saw its stock fall 14%, but its CEO Mark Zuckerberg is now facing multiple inquiries and investigations for allowing the platform to abuse consumer data, and profit from selling it to any and all bidders.

Additionally, new data also suggests that Facebook has already reached peak growth, with users spending 25% less time on the site over the past few months.

What this means for entrepreneurs and users of social media alike is that Facebook's decline opens the door for alternative models and platforms to rush in and entice consumers to try something new.  And on March 25, that very thing appears to be emerging which would not only protect customer and user data, but also pay them in cryptocurrency for both browsing and creating content.

A new social media app powered by Blockchain is vowing to turn procrastination into profit by incentivizing users for creating and liking content– rewarding social media users for their time and creativity spent online. 
APPICS is going to be established as one of the first Smart Media Tokens (SMT) on the Steem Blockchain, where the concept of transforming likes into cryptocurrency has already been explored through the Steemit platform. And, if the age-old mantra of “time is money” is true, would-be users could be in for a payday, with research from the Global Web Index suggesting the typical person now spends two hours on social networks per day, with mobile usage increasing drastically worldwide. 
APPICS says it wants to reward users for their time spent online, as well as to give them full control over their content, unlike other networks where freedom of speech can be curtailed and monetization is an uphill struggle. 
The network is proposing that 65 percent of the revenue generated from content would be returned directly to creators, with 25 percent being pocketed by the users who supported their post by liking it meaning they can benefit without creating content themselves. The final 10 percent would be reinvested into the platform and to support the ecosystem. – Coin Telegraph

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