Social media interactions (content creation, posts, retweets, likes and follows etc) have value. This value is currently monetized by tech giants such as Meta (owner of major platforms like Facebook and Instagram). But what if the individuals creating the content could earn from the popularity of their activities? Well, soon they will be able to. Enter Vybe!
Vybe is a content rewards platform. Content creators will be able to earn cryptocurrency for every like, upvote, retweet, and subscriber they get. This allows them to monetize content without charging for it or placing intrusive advertisements.
Vybe is an app that connects your social media sites to an Algorand wallet and automatically deposits crypto in your wallet for every Like, Upvote, Retweet, and Subscriber you get on social media. It takes these different ways of applauding content across platforms and standardizes them in a token called VYBE.
You mine your social media and get paid to post. Vybe captures the value of your content and, by putting it on-chain, allows you to transfer it off-site to convert it into other assets. In this way, VYBE makes it as easy as possible for anyone to mine crypto by just posting as usual. If you’re posting anyway, why not get paid for it?
“It basically takes your heart emojis, and puts them in your wallet” says Vybe Project Manager Arman Kapoor. This way, you can move them around and convert them to other assets. Microtransactions like this aren’t possible with banks and credit cards but are with blockchains and crypto.
Why Did Vybe Choose to Build on Algorand?
“It’s hard to budget expenses for 10,000 transactions when you don’t know what the transaction fee will be in six months – or six hours.”
Last month, at least two other blockchains on which Vybe considered building experienced significant breakdowns. One shut down several times, prompting users to question how decentralized it was, and the other completely crashed.
When asked about the pros and cons of building on Algorand, Vybe’s Lead Developer, Ravi Dhar, said,
“Most blockchain developers are using solidity and building on Ethereum or Solana. Ethereum also has a big community with pre-existing users and marketing help… It’s more mature. So this makes it easier to support and grow a new project. All of Algorand’s major DEXs, for example, just came online recently, and they don’t have the same liquidity or publicity as sites like OpenSea. So, as developers, we’ve had to learn some new tools, but the Algorand community is very helpful. It’s worked well for us so far. We hope our apps make it even better.”
“It’s exciting to be tokenizing things that haven’t been tokenized yet,” Vybe Developer Akhilesh Prabhakar said, “It’s exciting to be integrating blockchain tech into centralized sites to capture the value and see what happens.”
Vybe intends to launch its social media mining app on August 1 2022. After establishing a user base and distributing some tokens, they plan to launch a follow-up app in 2023 that will be “like Pokemon Go of crypto.” Vybe is currently running an Early Adopter program. It will close on August 1 2022.
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