In this competitive market, influencers are looking for new ways to monetize their content. And a blockchain-based social media platform could deliver just that.

By Eileen Brown

for Social Business

| June 5, 2018 — 18:27 GMT (11:27 PDT)

| Topic: Social Enterprise Video: The two things you need to know about Blockchain Amidst concerns surrounding secret algorithms and the ever-decreasing organic reach of content on networks like Facebook, Instagram, and YouTube, content creators and growing brands are moving to alternative platforms for social engagement. As Facebook and Instagram become more difficult for content creators to monetize, a new blockchain-based social media platform promises freedom of content with direct-from-platform monetization.

Read also: 10 ways the enterprise could put blockchain to work The community-owned open source social networking platform Minds has amassed one million users and has recently launched a cryptocurrency reward program based on the ethereum blockchain for all users on the platform. Users earn ad impressions through social participation and engagement.

Minds is also introducing a direct peer-to-peer advertising tool that allows users to offer tokens to one another in exchange for shares of specific content. Founded in 2011, its aim was to be an alternative to global networks such as Facebook.

Its users receive tokens for activity and content popularity on the platform. Read also: Blockchain and cryptocurrency: Everything you need to know (CNET) Their contribution is measured on unique engagement, attention, growth, and referrals. Read more from zdnet.com…

thumbnail courtesy of zdnet.com