A company planning to be the first to use Smart Media Tokens (SMT) on the highly-rated Steem blockchain is aiming to bring cryptocurrency to millions of new users by paying them to use social media.
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APPICS is following in the footsteps of others who have used crypto to reward those who post popular content, but will completely revolutionize the concept by paying ordinary users as well, returning the value of the network back to the content creators and curators.
The start-up, which has its ICO set for 28 March and plans to launch its app in alpha mode in Q3 2018, hopes to introduce the average social media user to the crypto world with an easy user experience and the promise of a more generous and transparent distribution of rewards.
It claims that, unlike on other popular social media sites which are run in the interests of shareholders, “APPICS enables all users to earn a fair share, as well as influence in the network, through a cryptocurrency reward-token”.
The company says: “APPICS is more than just a mobile app that lets users monetize their posts and even their voting. APPICS is a revolutionary social mobile app that lets anyone without prior crypto-knowledge benefit from blockchain technology effortlessly.”
In its white paper, the company hints that its app will most resemble photo blogging site Instagram as it aims for a simple, visual approach which it believes has proven most popular with the world’s almost 2.8 billion social media users.
Easy Use System Aims to Encourage New Users
APPICS is one of a number of cryptocurrency start-ups currently aiming to capitalize on social media and a perception that many influencers – especially those who build significant followings but fall short of viral stardom – feel under-rewarded by established platforms. Japanese firm Patron and Selfllery have both recently launched plays for this market, but APPICS is aiming for a wider appeal by rewarding ordinary users who simply ‘like’ and interact with content, as well as creators.
The company says it is “bringing crypto to the masses, making it easy and user-friendly. We aim at eliminating all barriers for the average social media user to enter the crypto world, by creating an easy-to-use mobile application that rewards its users.”
Selected brands will be able to use an integrated shop feature, allowing allow users to spend their XAPs easily. It also touts its platform as an ideal venue for charitable giving, as payment can be made seamlessly to an organisation through its profile.
APPICS first to use Seemit’s SMT as currency base
With a pre-sale worth $1.5m that sold out in 26 minutes on December 26, and a currently active bounty program where early adopters can earn free XAP tokens, APPICS claims to be the first to use Steem’s Smart Media Token (SMT) as the base for its tokens. It will run on the Steem blockchain, which emerged as one of the highest rated by Weiss Rating recently.
The company lists Steemit CEO Ned Scott as an advisor, alongside Ethereum Foundation advisory board member Bernd Lapp and Decent.bet CEO Jedidiah Taylor.
APPICS says: “The concept of turning ‘likes’ into currency has proven its feasibility and capability, as seen on Steemit.com with their upvoting system. With full support of and in cooperation with Steemit Inc., APPICS is one of the first meta-tokens to launch on the Steem blockchain that aims at eliminating all barriers for the average social media user to enter the crypto-world.”