The article provides a brief introduction to the cryptos in the social media sector. The goal is to familiarize you with all the interesting cryptocurrencies in the social media sector. I will make several articles on this topic, each time explaining three new tokens or cryptocurrencies.
Basic Attention Token (BAT)
A decentralized, transparent digital ad exchange based on Blockchain. BAT is a payment system that rewards and protects the user while giving better conversion to advertisers and higher yield to publishers.
Basic info:
- The first component is Brave, a fast, open source, a privacy-focused browser that blocks third-party ads and trackers, and builds in a ledger system that measures user attention to reward publishers accordingly. [1]
- The second component is BAT token. It compensates the browser user for attention while protecting privacy. [1]
Mission:
They see BAT and associated technologies as a future part of web standards, solving the important problem of monetizing publisher content while protecting user privacy.
How it works:
The high-level concept is: The advertiser sends a payment in token along with ads to users in a locked state Xa. As the users view the ads, the flow of payments unlocks, keeping part of the payment for their own wallet (Xu), and passing on shares of the payment to Brave (Xb) and passing the remainder on to the Publisher (Xa-Xu-Xb).
Appics
Basic info:
The concept of turning “likes“ into currency has proven its feasibility and capability, as seen on Steemit.com with their upvoting system. With the full support of and in cooperation with Steemit Inc., APPICS is one of the first meta-tokens to launch on the Steem blockchain that aims at eliminating all barriers for the average social media user to enter the crypto-world. [2]
Mission:
In order for blockchain technology to become widespread and popular on a global scale, there must be a user-friendly approach.
1 - A next-generation social network for content creators and curators
2 - A means for self-expression through visuals and video
3 - A new economy, based on token-rewards
4 - A secure and user-friendly cryptocurrency
5 - A decentralized environment
How it works:
When user A “likes” a post by user B on the APPICS platform, user A plays a part in contributing, giving the content created by user B value. User B receives a payout for creating the content and user A is also receiving a share of user B’s income for his supportive action. This is a win-win situation, encouraging and incentivizing support and engagement. [2]
SELFLLERY
Basic info:
SELFLLERY is a multifunctional social platform that allows you to receive rewards in cryptocurrency for social activities related to publication and distribution of visual content. The SELFLLERY reward system uses ERC20 tokens built on Ethereum blockchain technology.
Mission:
The purpose of SELFLLERY is to create an ecosystem that:
- Enables users to monetize their photos, videos and live streams in a gamified way;
- Supports charitable organizations and makes donations easy for users;
- Provides companies with easy-to-use and effective promotion tools that involve user photos;
- Expands the market for photo and video content for companies and news services, with a convenient search functionality;
- Integrates modern technologies and capabilities of blockchain into the digital photography market, increasing the transparency and security of its transactions. [4]
How it works:
SELFLLERY provides an extensive toolset for user content monetization including:
- automated rewards in YOU (SELFLLERY money) tokens for Likes received
- an opportunity to sell photos in stock photo
- rewards for participating in advertising campaigns
- prizes for photo-quests
- rewards for participating in photo contests
- boosted multipliers for getting into the top-ratings and for frequent social
activities. [4]
Source:
[1] https://basicattentiontoken.org/
[2] https://appics.com/downloads/Appics_Whitepaper.pdf
[3] https://tge.selfllery.com/
[4] https://selfllery.com/wp/selfllery_whitepaper_en.pdf
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