Blockchain-based social media is a phrase we’ve all begun to hear more and more often. This speaks about the increasing social impact of Blockchain technology in general. Many platforms even promise to leverage the new technology to change and improve the social media experience. But what does it mean? Entrepreneurs and innovators who have dedicated themselves to this new avenue see a new social world where users can earn from ads, be free of censorship, and have better control over their data.
Social Media Networks Using Blockchain Technology
With this piece, we’ll give you a quick break down of trailblazing social media platforms that are very similar to blockchain technology networks and explain how they operate.
Minds is a blockchain social media that began to gain momentum in 2017 when the initiative turned into Twitter’s most unconventional and least likely competitor. Gradually, the network had gained over a million users and shifted to Ethereum. Even though the numbers have died down a bit, it still stands as a strong representation of how masses can migrate to new platforms.
Distribution of the project’s ERC-20 token begun in early August 2018. Tokens are used to encourage users to post and participate in the network but also to boost content (i.e. advertise.)
Sapien gives off a crypto-Facebook vibe and like Facebook, their intentions are a bit broader. The platform values include data privacy, free speech, and customizability. Customizability is about providing options of each user to decide how they experience the platform. Data privacy (another common theme among blockchain socials) means users decide whether advertisers receive their data and even have the option of being paid for sharing this data. Free speech is a tricky claim to make, but platforms like Sapien distance themselves from censoring practices seen by Facebook in recent years, thereby giving users a platform to freely express themselves. As opposed to Steemit, Sapien has only one type of token given to users based on participation.
All.me is a digital ecosystem that combines a social network, blockchain platform, trading platform, and payment service. All.me’s meNetwork is a new-generation social media platform that rewards active users with digital assets (aka ME Token). meMarket is a trading platform allowing users to buy and sell products from each other (C2C) as well as directly from international brands (B2C). mePay is a FinTech solution that brings together blockchain technology, digital assets, electronic money, as well as classic payment services. With the internal billing system, transfers can be performed instantly without commissions within the network.
What makes all.me social network stand out is the opportunity users have to earn up to 50% of the advertising revenue generated by the network. Users also earn based on their social activity within the platform.
Users get their earnings in ME tokens, based on their social activity, social ranking, and content. You can manage your own account, find people who share your hobbies and interests, and engage them with content you post.
Another unique feature of the all.me app network is that users can create and subscribe to magazines, which are online journals filled with content categorized by topic. Both magazines and individual posts trend and the most popular ones appear on the all.me Hot list. Exposure here is great since it gives you a chance to attract even more subscribers.
As with all things, it is the nature of social media to evolve. New social platforms, whether they resemble familiar mainstreamers like Facebook or are more specifically suited to meet the demands of a certain niche are an indivisible part of the industry. Each platform brings something unique to the table but in most cases, the people behind the projects will decide their success. In addition to providing a fresh approach to social media and earning, the team at all.me has launched a fully operational app in 2015. So you’ll definitely want to follow up and track how the platform develops.