Time is Money - New App Will Reward Users for their Time with Cryptocurrency
It is estimated that the typical person spends around two
hours per day on social networks, according to recent research conducted by the
Global Web Index, so wouldn’t it be great if you could find a simple way of monetising
that time spent online - creating, sharing, and reacting to content in return
for financial reward?
Well there’s a new app emerging on the scene which aims to
do just that, making use of the Steemit platform to establish itself as one of
the first widely-available Smart Media Tokens (SMTs) on the market. Known as APPICS, the app will hand out cryptocurrency rewards
to those creating and interacting with content on the platform. A “like bar”
will give users full control over exactly how much support they wish to show
for a given post when voting, with this support being expressed in the form of
APPICS tokens - the platform’s currency.
The network is proposing that 65% of all revenue generated
from user-created content would be returned directly to the creators themselves,
with 25% going to those users who supported their post by liking it. The remaining
10% would go to the company for reinvestment into the platform and associated
services.
Those behind the APPICS app have also stated that daily
voting power would have an upper limit, with this being done to prevent influential
accounts from liking or sharing content on a constant basis in order to
artificially generate the impression of popularity, or in order to ‘farm’ for
monetary rewards.
Select influencers with relevant expertise and an
established reputation however will have more power than others, being
designated as category judges for one of the network’s 15 categories of
content. These categories include lifestyle, tech, music, gaming, fashion and
more.
Sam
is an aspiring novelist with a passion for fantasy and crime thrillers.
Currently working as Editor of Social Songbird, he hopes to one day drop that
'aspiring' prefix. Follow him @Songbird_Sam
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Time is Money - New App Will Reward Users for their Time with Cryptocurrency
Reviewed by Unknown
on
Monday, March 26, 2018
Rating:
Reviewed by Unknown
on
Monday, March 26, 2018
Rating:
Unknown
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Aspiring novelist with a passion for fantasy and crime thrillers. He hopes to one day drop that 'aspiring' prefix. He started as a writer and soon after he was made Executive Editor and Manager of the team at Social Songbird. A position he held for 5 years.
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