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Time is Money - New App Will Reward Users for their Time with Cryptocurrency

It is estimated that the typical person spends around two hours per day on social networks, according to recent research conducted by the Global Web Index, so wouldn’t it be great if you could find a simple way of monetising that time spent online - creating, sharing, and reacting to content in return for financial reward?

Well there’s a new app emerging on the scene which aims to do just that, making use of the Steemit platform to establish itself as one of the first widely-available Smart Media Tokens (SMTs) on the market. Known as APPICS, the app will hand out cryptocurrency rewards to those creating and interacting with content on the platform. A “like bar” will give users full control over exactly how much support they wish to show for a given post when voting, with this support being expressed in the form of APPICS tokens - the platform’s currency.

The network is proposing that 65% of all revenue generated from user-created content would be returned directly to the creators themselves, with 25% going to those users who supported their post by liking it. The remaining 10% would go to the company for reinvestment into the platform and associated services.

Those behind the APPICS app have also stated that daily voting power would have an upper limit, with this being done to prevent influential accounts from liking or sharing content on a constant basis in order to artificially generate the impression of popularity, or in order to ‘farm’ for monetary rewards.

Select influencers with relevant expertise and an established reputation however will have more power than others, being designated as category judges for one of the network’s 15 categories of content. These categories include lifestyle, tech, music, gaming, fashion and more.

Sam is an aspiring novelist with a passion for fantasy and crime thrillers. Currently working as Editor of Social Songbird, he hopes to one day drop that 'aspiring' prefix. Follow him @Songbird_Sam

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Time is Money - New App Will Reward Users for their Time with Cryptocurrency Reviewed by Unknown on Monday, March 26, 2018 Rating: 5

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