The startup platform Synereo has launched a blockchain- based social network, called WildSpark. The system aims to provide rewards related to the published content on different traditional platforms.
Only users on Imgur, Medium and YouTube will be rewarded
The rewards in cryptocurrencies can be obtained for posters on Imgur, Medium and YouTube. In order to launch the project, the company removed 307 million AMP tokens, accounting for about 33% of Synereo’s total amount, equivalent to a $ 100 million market capitalization.
However, besides the direct-induced loss, the WildSpark social network aims to grow the usage level of available tokens, increasing thus their value. After the announcement was made, the value for AMP tokens increased by over 30% in just one day, reaching $ 0.5.
The rewards depend on users’ appreciations
“The internet wouldn’t be what it is without the content that people create and share with one another“, stated the CEO and CO-founder of Synereo, Dor Konforty.
The WildSpark social network aims to answer the constraints on Facebook and YouTube, that make the monetization be more complicated. The rewards depend only on foreigners’ appreciations on personal posted contents.
“The release of WildSpark is a major milestone for us in reaching our goal of creating the Liberated Attention Economy based on novel decentralized technologies. Now that our growth milestones have been met, we are happy to burn our tokens and make AMP much more valuable for our users”, added Konforty.
Today, the total amount of AMP tokens is 622 million, while nearly 100 million are involved in active transactions. Since 2014, Synereo has created a favorable image and notoriety. The company’s new project will attract, for sure a lot of attention and interested users.