While it’s true that cryptocurrency has become a popular topic in recent months, many have refused to actually own any type of this currency. That being said, a new app that is powered by the use of Blockchain wants to change how people view cryptocurrency while rewarding them along the way.
Known as APPICS, this app wants to reward those who spend time utilizing their social network. While many social networks currently reward creators, a large number of creators feel that websites including YouTube and Facebook are implementing too much censorship. In addition, it’s rare for any social network to hand out rewards to those who view or like content. However, APPICS wants to change how people think of social media while allowing content creators to not have to worry about obtaining and keep sponsorship from various brands.
This app will utilize what is known as Smart Media Tokens. Industry website Coin Telegraph reports that APPICS will utilize a 65/25/10 revenue split between creators, users, and the company. This means that 65% of revenue coming from content would go directly to the creators of these items. What makes APPICS truly notable is that 25% of revenue generated from content goes to those liking posts and other types of content. Lastly, 10% would go back to the platform in order to fund its operating costs.
Those creating and liking content within APPICS are planning to be paid through cryptocurrency. While certain individuals might balk at the idea of using this type of currency, it’s worth noting that APPICS has already obtained a significant amount of funding. This company currently claims that a pre-sale that took place last December for $1.5 million worth of APPICS-based currency sold out in under 30 minutes. In addition, the company reports that an actual coin offering will take place on March 28th where 120 million APPICS tokens will be available for sale.
That being said, not all likes will be equal within the community of APPICS. This means that bots or automated users will have a harder time obtaining rewards from liking content than will actual human users. In addition, there will be certain judges employed that will have much more voting power than would the average user. There are currently 15 planned categories that will be featured on APPICS including tech, lifestyle, music, video games, and other popular choices
Dil Bole Oberoi
