Social media platforms are profiting billions of dollars.

The founders of technology companies have amassed incredible wealth. A vast portion of technology companies drive their income through advertisements; the rising giants of the technology industry, social media platforms, drive their revenue almost exclusively by placing advertisements on the content their users create.

The irony is that social media platforms don’t create anything independently; they merely provide the channel through which people can interact with others’ content. While people who give life to these platforms dedicate their time and effort to create content that drives income for the platforms, they get nothing beside superficial likes; this is the only thing existing social media platforms have to offer them, and this is the only thing existing social media platforms will offer them.

The current operational model of social media platforms disadvantages the masses at the benefit of a few.

There is a strong disparity in the content market. Social media platforms showcase an extreme example of this disparity: the person who facilitates the distribution of content gets all the value derived from the distributed content.
The good part is that such a system might soon become outdated. Change is on the horizon.

A vast portion of the world is now becoming aware of the value of their time. Now, as blockchain technology makes it possible to attach value to any interaction on the internet, a constantly increasing number of people are becoming aware of the value of their attention. As the blockchain makes it possible to twine value with any interaction, entrepreneurs across the world are exploring ways to ensure people are justly rewarded for any effort they make on the web.

Fair Value for Effort

A new blockchain-powered application, LipChain, is targeting the unfulfilled value distribution in the content market, with a particular focus on content that is distributed via social media.

LipChain targets the surfing community and gives them an ecosystem where the surfers are in control by voting rights earned by holding LIPS tokens. However, LipChain is going beyond just creating a democratized system; this application is providing a feasible means to distribute the value derived from content created for and distributed on social media.

Surfers and athletes can now place their content on the LipChain application—the same content they’d typically place on existing major social media platforms.

The key value offering that LipChain offers to the surfing community is that they can enjoy the sport and earn from it simultaneously. It achieves this by distributing the ad revenue it earns to those users that create content on the application. LipChain is developing a disruptive project in the content industry because it justly values the effort and time of content creators. Sports content, in particular, requires a high degree of mastery of the sport and thus takes even more effort.

Despite the degree of skill and effort needed to generate sports-centric content, and the amount of audience sports-related content draws, existing social media platforms serve as nothing but leeches that are solely benefit from the effort of the content creators.

LipChain gives surfers the opportunity to continue sharing their experiences in the sport they love. The application intends to attract advertisers by leveraging the reach LipChain generates through its users. However, unlike existing social media platforms, LipChain recognizes that content creators’ work needs to be rewarded. Thus, LipChain is carving a shift in the content industry by properly distributing the revenue it social media platform generates.