It started as an ICO I was really excited about to participate but they canceled it and now they airdrop their tokens claiming the demand was too high.
Current is combining existing social media and wants to pay you with their token for consuming ( your attention ) .
With the Current token you can then get your Spotify subscription cheaper or even free if you watch enough Ads for example.
So it is not trying to replace current Media but tokenize it through their app. Creators, consumers and curators can apparently earn their and advertiser have to pay with their token.
To claim your free tokens you have to register here
it is my ref link, if you dont like good old Flipstar feel free to register through their website
Current received a lot of attention because Marc Cuban can be found under the Advisors & Investors Tab
Yes, he said that...
Nevertheless, I think it is an interesting project.
Is it a competitor for Steemit?
I would say no, as the media they are working with I use in a total different way as Steemit...for now at least. Could be totally different in a year and music services like Spotify are available here as well.