Social Media Token
Semi-decentralized way of distributing the power of Social Media and monetizing the user interactions.
What is it?
Social Media Token is an ERC20 token based on Ethereum Network. The project aims to reward the viewers of videos published on social media, or the followers of a page/website depending on their overall interaction time. If a person watches a Youtube video for some minutes, they will earn Social Media Token for their interaction. After this, they will have a chance to either tip those coins to the creator of the content, or claim only 10% of the gained tokens and return 90% back to the treasury. This way we enforce users to spend their tokens towards helping the content creator which helped user to get those tokens.
Valuation
There will be an initial coin offering once the ERC20 contract is made & website is up and running and a team is announced. The fixed price per SMET will be $1.
How does it work?
Users can link their social media accounts to SMET platform, and SMET will get the user's social media activity data. Based on the data SMET has, it will grant tokens to the user and will keep track of the origin of the tokens (where/how users earned it). Users will be able to login to SMET platform and transfer their coins, or tip to the content creators. Since SMET is an ERC20 token, upon withdrawing the tokens using SMET platform, user will have all the rights to transfer the SMET tokens on their wallets.
What is the purpose of SMET?
Today big social media companies are taking huge cuts from content creators' revenues. For example, if you were to subscribe someone on Twitch, they get 50% of the income from the subscribers. We believe that such cut is more than it should be so we introduce Social Media Token. SMET will have bots and API support for social media platforms. So, a content creator will be able to integrate SMET to its channel/website/blog and allow its users to earn SMET from their interactions. Also SMET will have the option of direct tipping, for example, if a user chooses to send a donation to the content creator, they can simply send SMET to the content creator and pay
NO COMMISSION to any other third party. The transaction would be happening on the Ethereum network and the content creator has all the rights to transfer/sell the coins received, in their favorite exchange or platform.
SMET removes the cuts from third parties, allowing direct user-to-user transfers. While this could be done with the current crypto-currencies, no token or crypto currency has the direct tipping bots, or built in social attention token distribution platform. SMET will enforce content creators to own a wallet&account because of the SMET reward system (the audience can get SMET and tip them). Currently almost no content creator accepts tips with crypto currencies. Even if they do, they will not get a livestream announcement like they get from tipping in platform. So the users don't choose to do that. With SMET, hopefully we will reward the content creators as they deserve, and we will cut all the commissions from the third parties.
Bounty Program
SMET has an active bounty program where each completed task will be rewarded with SMET upon approval from the core team.
Here are the bounties you can claim by helping the SMET program;
* Website design for the project. 1000 SMET
* Ad material design for the SMET. 1000 SMET
* Logo & Graphic Material design. 1000 SMET
* Whitepaper Translations. 300 SMET per language
.. more to be added ..
Social Media Token is looking for people to work with. Current open positions are;
* Social Media Manager (Facebook, Instagram, Discord, Twitter, Slack etc.)
* Graphic Designer
* Community Manager
