So far social networks have been a place where people could connect and share common interests, experiences, friendships, business, etc.
The way this is working is very simple. You use a free social media platform that allows you to share unlimited content and in exchange you allow the companies to use your personal data for targeting advertisement. That means that businesses willing to advertise on these platforms can choose between a huge range of details so the ads are shown only to those users with those specific attributes. Sex, age, interests, location, etc, etc, etc.
At least that’s the theory… more recently it looks like that was not the only use for personal data, see the Cambridge Analytica scandal. But that’s another story.
It sounds like a fair deal… you use a platform for free and at the same time you allow the companies managing these platforms to make money out of your data. But the advertisement revenues of these companies are massive! And the ones that don’t get a cent out of this are the users which are the main reason why these companies make that kind of money! And the revenue trend is constantly growing.
But with the arrival of cryptocurrencies on the scene, this current scenario might change.
One idea we are working on within Adel is Epic Town, a photo sharing platform. The aim of Epic Town is to reward users based on the likes their pictures receive and in exchange the usage of the posted pictures is free, removing the hassle of understanding copyright restrictions.
It will reward users creating content and will make life much easier for anyone that wants to use a picture.
Epic Town might anyway use advertisement as a form to generate revenue but at least also the users get something in return for the content they post.
One of the great things that blockchain and cryptocurrencies brought to the internet world, is a new way to build an economy layer on top of what we already know. It could be a way to share the massive wealth these internet companies are vacuuming day after day and distributing it also to who are the source for all that wealth: the users.
The same wish to reward users for their content is the foundation of this website, Ardor Rocks. Activity on a website is what makes a website worth visiting. The more users, friends and content are what attracts more users, more content and eventually paid advertisement. So why not build a micro economy on top of that, encouraging users to contribute and be rewarded?
As everything in the blockchain world, it should be treated as an experiment, but some active users have already started to climb the leaderboard! Look at the leaderboard page and at the distribution of the ROCKS Ardor asset and you can see how that works. More information about the reward system can be found here.
No ICO, no initial token value, but the value builds up with the content and the engagement of the users which allows more tokens to be distributed. And finally when someone will start trading the ROCKS tokens on the Ardor Asset Exchange the value will be defined by the market.
I strongly believe that the social media space will change and maybe, in the end, the value users create will return to the users. So start tasting what that could be right here, right now!