The rise of social tokens and the “Watch-to-Earn” culture in the metaverse
READING, BERKSHIRE, UK, April 26, 2022 /EINPresswire.com/ -- Blockchain technology has brought about a wave of change in all sectors. While issues of user privacy and safety remain constant and the practice of platforms storing and harvesting user data continue to be the norm, fundamental change is on the horizon. NFTs (non-fungible tokens), the Metaverse and GameFi have been the most recent trendsetters in the blockchain world, but “Social Tokens” are coming, poised to change the way we socialise on the internet.
Social tokens are digital assets that are backed by an individual or a community. They are the true product of Web 3.0 because they directly connect content creators with consumers without the need of an intermediary. The main goal of social tokens is to create new opportunities for creators and communities to monetize their content.
In this digital world, content creators like musicians, artists, writers, and social influencers are the true heroes and revenue generators of media. Unfortunately, these creators do not receive adequate rewards for their efforts. Third-party social media apps, such as Instagram, exert artistic and financial control over the relationship between content and audience. To overcome this exploitative control and fully reward creators for their efforts, social tokens are the key. Content creators can use social tokens to create, build and control their own economy, without the presence of corporate intermediaries.
Since 2021, new socialisation models using blockchain technology have been on the rise. Platforms that aim to build communities dedicated to incentivising the relationship between both content creators and audiences in a mutually beneficial manner.
Take GazeTV as an example, a new and revolutionary blockchain-based social and entertainment platform. GazeTV incentivizes and rewards both creators and audiences through its tokenized economic system. This helps content creators and audiences interact directly with each other while supporting and growing together. The team behind the platform believes that audiences and communities are no longer passive products and incentivises them to like, share, and comment on videos. This is done by taking a small percentage of the total value generated by all videos and putting it into an Engagement Reward Pool used to reward the community for its participation. GazeTV is set to accomplish this through a three phase development plan. Phase one, the "GazeAge", signified the launch of the platform in May 2021. Since then, GazeTV has attracted over 520,000 minutes of content and a GazeTV community of several thousands with over 53,998+ hours spent on the platform. The platform reaches users in 184 countries and has airdropped more than 15.9 million GAZE social tokens in the process.
GazeTV’s upcoming second phase, “Gazer-lization”, focuses on peer-to-peer interaction, networking, and discovery. It introduces the ability to host private or public live streaming events, giving creators additional controls to manage their own unique revenue models. The social networking aspect of the platform allows people to engage in peer-to-peer messaging with other community members. GazeTV will also introduce a new “Watch-to-Earn” and “Engage-to-Earn” mechanism that rewards participants with multiple incentives and benefits based on their efforts and contributions to the ecosystem. This new content vertical allows creators to use their artist tokens as a payment method and to interact in new ways with other content verticals. Phase two, “Gazer-lization”, will also introduce an affiliate marketplace for sharing and recommending content and artists.
"Gazer-lization" is set to launch late June 2022, and is expected to bring a new, fresh approach to how social entertainment platforms function. By incentivizing audiences to watch and engage with content, GazeTV makes the audience an integral and active part of its ecosystem. Content creators get to interact directly with their audiences and earn rewards and incentives for uploading their content to the platform without the presence of intermediaries.
Early bird registration is now open for "Gazer-lization". Become a Gazer and experience the new wave of socialisation.