Paying Content Platforms Are Disrupting the Social Media World: Focus on Glacier Platform
Content platforms that pay you for your opinion are about to explode on the social media scene in 2019. CBNT, Glacier, and FidelityHouse (FIH) are among the stream of Blockchain startups running or wrapping up ICO fundraising.
The crypto sharing economy got real for many when one Blockchain startup’s marketing strategy to become the Reddit of the blockchain paid off—for everyone. Steemit began to pay social media users to comment and vote on blog, video, photography and other content. The rest of the story has become social media history. Last week alone, over 40,000 transactions (posting, voting, commenting) on Steemit created millions of dollars in value for social users.
Content and co-creation
But something else has happened, potentially worth even more value, called co-creation. Social media fans are actively participating in the development of the content.
In the sharing crypto economy, social media users get paid for their time, so they are willing to invest more of it. Content producers can control their information flows without censorship and all contributors can profit, from the content developers to the consumers and curators.
These more active consumers of content are also providing important content feedback and, less recognized, marketing intelligence. Social media fans are helping novelists write the plot and develop the characters. Many an engineer and banker yearns to unleash the great novelist within. Muratk Besiroglu is one of the few who has actually been able to leave his day job. Muratk tried many of the traditional routes to become a published author—publishing houses, literary magazines, blogs, and so on—but he was still stuck behind a desk during the day.
Writers paradise: Steemet and Glacier
As he recounts on Medium, the modest earnings he was paid per essay quickly disappeared when the literary magazine he wrote for folded owing to financial difficulties. But there was a silver tip on his pen: the novelist became a Steemian: the author found Steemit (STEEM). On platforms like Steemit and Glacier (GLPM)—developed specifically for writers, poets and the like— when an author succeeds, he shares his profits with all contributors to his content—including those who comment and vote on his content. Social network fans earn, buy and spend more tokens and the platform earns more. It’s a win-win! You no longer have to wait months for a literary magazine to send you a check. On Glacier, you can withdraw GLPM immediately.
(GLPM)—developed specifically for writers, poets and the like— when an author succeeds, he shares his profits with all contributors to his content—including those who comment and vote on his content. Social network fans earn, buy and spend more tokens and the platform earns more. It’s a win-win! You no longer have to wait months for a literary magazine to send you a check. On Glacier, you can withdraw GLPM immediately.
The marketing value is harder to quantify but worth significantly more to the content developers. Marketing research costs around $300 per person on average, out of range for most small content developers. Though the ability to gather useful marketing data is overlooked by most content developers, whose fans on paying content platforms are 10 times more likely to respond.
Consider one trading education entrepreneur who leveraged this marketing power. A fellow named quickfingersluc had a huge following for his cryptocurrency trading videos, but almost lost it! His fans were spread across his many social media sites. When Mr. quckfingersluc had a security issue he deleted all his videos, and started a new Trading Video Series for Steemit. His Steemit community was in a brouhaha. In over 100 posts, fans who had not yet watched the old posts pleaded for their return.
Marketers spend billions of dollars a year trying to identify such market demand. But this community did not only help with his marketing efforts. One follower downloaded the videos to his own site at his expense and encouraged Steemians to watch them. Beyond altruism, only the trading video maker received more upvotes, and therefore more STEEM tokens to monetize in the future.
Your Voice Is Worth Something
New platforms are expanding the “your voice is worth something” model to new content forms. The Glacier Platform E-Books marketplace plans to be the Amazon of the blockchain. Amazon let’s publishers collect presales up to a year before the official launch date, and thereby early feedback. If fortunate, the author will receive a few comments, but they hardly merit market research. On the Glacier platform, users are incentivized to provide constructive feedback on your book. Each time they comment or vote on your ebook, they receive GLPM tokens.
An ebook could be on the market for six months to a year before the author has enough feedback to release an updated second edition. The slower the sales the longer it will take to get constructive feedback on what your audience really wants. The ability to receive this marketing intelligence upfront is valuable. Once again, content developers could do more to tap this marketing intelligence. Many post announcements of upcoming books and other content and receive hundreds of comments. Most, though, announce the content project, but provide no content. If you have the marketing audience, make good use of it!
YOYOW
YOYOW (You Own Your Own Words) allows any type of content to be integrated into its content monetization and incentive system. On the MINDS platform, in addition to blogging, commenting and voting, you can launch your own custom social network using its open source code. Minds has turned its token, which fluctuates with the value of Ethereum, into a
Face Time is Moving to the Blockchain
With so many social media users earning Steem tokens, the currency has flowed into the real economy. Dozens of businesses accept the currency. You can book your travel, gamble, shop at a health food store, or hang out at your favorite cafe while paying in SteemPower.
Facebook and other social media sites are envious and want to be the currency of the growing crypto economy. They are redesigning their ecosystems to launching their own tokens. Soon, social media users could be paid for the two hours a day they spend on average on Facebook. Facebook and the Chinese Reddit Tianyan—both top 100 websites globally—have announced that they are releasing tokens. Does this mean an inevitable move to the Blockchain? Facebook has recently hired 50 programmers to work on its Blockchain.
The Tianyan Token (TYT) will allocate 80 percent of its supply to rewarding community behaviors. Users will be rewarded for participating in governance and creating content. The big money is starting to flow into these paying content platforms. Medici Ventures, a subsidiary of overstock.com, recently invested $6 million in minds.com and appointed Overstock chief Patrick Bryne to its board.
If you are deciding which tokens to place in your Christmas stocking this year, content platforms that value your words have more future potential value than socks.
