Hi, my team and I are close to having a social media site that rewards with cryptocurrency and we would love to use the Basic Attention Token. Please let me know if this is at all possible. Our viral growth model may be able to help accelerate the adoption of BAT, and spread the awareness of Brave Browser. Thank you so much.
Please feel free to email me, my email is email@example.com
Nice idea but how would you reward people by ads ?
Thank you, Adison, through ads on the site. The Model to start would be 70% of ad revenue goes to the influencer who invited the user, 7% goes to the user, 22% goes to Up Abundance(the social media site), and 1% goes to charity. By giving so much for inviting users we intend to increase the viral growth that is implicit in social networks. So, if an influencer invited their 1,000,000 followers and 3% sign up that is 30,000 people that could make the influencer $30,000 a month, every month.
That is $360,000 more per year for the influencer. And we wish to spread abundance for the average person as well. Given that BAT is increasing in value, if we were to use BAT on our social media site people with smaller followings could have a chance to make more money from inviting people. And it is important to say that more could be given in charity as well.
But Brave blocks ads by default - It’s difficult to get users to turn of the ad block, you would need to give them a good reason to turn blockers off and 7% sounds like a very small share.
take brave as an example with a similar business model but they give users 70% of the money and people are getting 3BAT a month, with your social media the only people that would profit is the lucky few that have 1 million followers and they don’t need BAT if they have that many followers to begin with
Looking so good, AdamAziz, I guess this will need a lot of efforts cause you’ll face problems such as brave shield lol (obviously if you partner with brave officially then it would solved). Also, are you saying per sign = 1$ ( I think I’m wrong here please explain).
and what would be your site content ?
Sounds like a terrible idea, all due respect. The fact that you want Brave’s user base to get involved and to pay on BAT makes almost no sense to me; like it would be better to pay in USD like other sites do instead.
Thank you BumbaLumba, the social media site is meant to be shared virally. So, the 3BAT/month that Brave gives is what you earn for referring one person. If you get 2 people, you have already doubled what brave pays per month, every month! People could make businesses just off the 70% referrals. The goal is to spread abundance to any who seek it. And whether your goal is 10, 100, or 1,000+ referrals you have a chance to Up Abundance. It would also be encrypted, and we would never sell your data.
The way you described it just sounds like a Ponzi scheme to me, lol. Are you even able to create multiple accounts on your platform? remember, with Brave people have multiple instances running off the rewards feature. And this doesn’t need a single referral and it has a nice top of 4 instances on a single Uphold wallet as far as I remember. I don’t want to be rude, but there’s this misunderstanding with Brave that you are going to be rich in no time and that one BAT will reach $40 dollars by the end of the year; it’s just not happening.
Yeah something doesn’t add up here - I will be on the side lines for this one and watch from a far Good luck to you @AdamAziz.
If people choose to not watch ads with brave shield that is great, Brave is doing it’s job. Up Abundance (the social media site) is meant to spread virally to people who are not yet Brave customers and who, after learning about BAT, may decide to choose Brave. I understand that this is the end of the hay day of social networks, and I might as well get in and spread the wealth(to users and charity) before the gates close forever.
Thank you 4M4M, Brave’s user base is rightly theirs. I am interested in using BAT to reward users and referrals because I believe in it. As BAT grows in value so would the amount of wealth that could be spread to more people, and charity.
Thank you again 4M4M, great points. A Ponzi scheme is a fraudulent investing scam which generates returns for earlier investors with money taken from later investors
Here, people already use social media, so I think they might as well get paid for it. The
offering of rewards on referrals is the beginning phase to get the word out. Eventually the vision would be to offer 77% of ad revenue to users, and a continuous 1% to charity throughout.
And you can create multiple accounts, rewards would just be measured out by ads viewed.
Thank you, BumbaLumba!
Makes total sense and it sounds quite interesting when you put it that way, but if it’s just a normal referral system like other sites do, (this time with BAT) it’s honestly just a Ponzi scheme in my eyes, not everyone on the site will get “wealthier” or anything, maybe only the administration will past a couple influencers or people that will obviously enter the scheme while already being rich or in a comfortable position. It is what it is, there’s nothing wrong with that, but it’s kinda weird that entrepreneurs try to hide this obvious fact, I mean 1% charity; it’s just laughable to me, again no disrespect (and sorry that I’m being so blunt and assuming a lot of things and, specially, going off-topic, it’s just that a project like that is just not my cup of tea).
Looks like something new that I haven’t have tested before.
I don’t see what it has to do with BATs since both paying in USD and BATs are the same, you may make it an alternate payment method tho.
Also, we can’t really judge the project without getting the hold of it, so do share the app/ website over here when you are finished with it.
Hey 4M4M, thank you for your points. If we reward based on user attention, the most a person can make is 70% or 3BAT or so. However, if we reward based on referrals in the beginning, everyone has the potential to make 6BAT from 2 referrals, 30BAT for 10 referrals, and so on. I believe it is the best strategy to offer everyone an equal opportunity to increase their abundance. Some have greater followings than others but everyone has a chance to make more than 3BAT/month.
And I agree that 1% is not that much, but if I require investment to grow, investors might not like too much given in charity. According to Peter Thiel, non-profits have a problem with scaling, while for profit companies can direct more profits to reaching more people. And if I receive any profits from helping the project for myself, I intend to give more than the minimum 1%.
Thank you, Rajat. Because BATs are increasing in value, users and influencers could have the chance to profit more off the model.
And true, thank you, I intend to post the project when it is ready.
that social media site must be blockchain-based and decentralized