APPICS is the latest social media app based on the Blockchain Technology that has promised to reward its users in cryptocurrencies for their time in creating and liking the content online. The Smart media Tokens (SMT) is developed in a way that it transforms the likes into the digital currencies to reward the users for the time spent on the internet.
The new app is established on the Steem Blockchain, where the likes are instantly turned into the cryptocurrencies. The app intends to empower the users by enabling them to have full control of their content and earn some monetary value for the time they spend browsing the internet. The app is the first of its kind to reward users in the social media.
According to a study conducted by the Global Web Index, a typical person today spends about two hours per day browsing through the social media networks, and most of the work is centrally carried out on the mobile phones.
The APPICS has suggested that about 65% of the revenue generated from selling the web content should be returned back to the content creators, while 25% of the portion to be channeled to the end users for supporting the posts via likes. The remaining 10% will be spared for further developments of the platform.
According to APPICS, most social media companies are taking the advantage of the users and content creators by not rewarding them for their support in promoting the web content. The company intends to recognize the efforts of the content creators by rewarding them using various cryptocurrencies.
The company will create a new wallet for every account that is opened to save the tokens earned and allow the user to transact the coins to friends and relatives with insignificant transaction fees. The firm will also ensure that the tokens are easily traded for any available cryptocurrency to enable more people to use the cryptocurrencies across the world. The app will allow 15 categories of content ranging from lifestyle, gaming, fashion, tech and much more.