A new concept aimed at radically transforming the shape of social media has been brought to the fore by peer-to-peer social media platform, Tipper: The Social Economy.
Tipper says its offering hands back ‘power to the people’ by monetizing the activity of ‘tipping’, and moving away from ‘empty likes and views’.
Instead, Tipper’s ‘econosystem’ allows users to make money from the time they have invested either creating content or interacting with others’ content.
By eliminating the centralized model and replacing it with a peer-to-peer platform, users are given more autonomy. In the existing structure, users, arguably the ones who produce the most valuable content, are those ironically gaining nothing for their time and energy.
Co-founder and CEO, Saroop Sahi said: “The Tipper Social Economy system empowers users to directly support each other and frees us from the grip of dominant corporations who need massive advertising dollars to support the centralized structure they operate in. The future of social media is about peer-to-peer monetization that offers a value proposition to participants.”
Tipper’s proposal is based on four key areas that operate within it; tipping, content investing, momentization and branded tips.
The concept of tipping is the core feature of the platform. With the tip economy, both content creators and users can earn. Content creators do not need millions of views to earn money from their posts, bringing a new meaning to ‘viral’. Also, the more active you are as a user and the more you tip, the more revenue streams open up to you.
The second pillar of the project allows users to earn from investing in content. Users benefit from the popularity of content, as well as the creators of the content. For example, if you spot potential in a content creator, you can invest in their content via monthly subscriptions, short-term and long-term investments, creating a two-way benefit.
The third pillar, ‘momentization’ capitalizes on the exciting and monumental moments in our lives, from sporting events to political news. Within its econosystem, Tipper monetizes this concept. When the ‘moment’ is over, the fund allocation is distributed amongst creators and participants, while the rest is redistributed through the tip process and Tipper initiatives.
The final pillar focusses on advertising. With Tipper, all advertising revenue generated goes to the users. Advertisers benefit by having more say in where they are spending their money, as all advertising revenue is given back to users in the form of a ‘branded tip’. This means advertisers can pinpoint who they want with their branded tip token. Content creators also gain as they are no longer answerable to advertisers, meaning they can produce content with no advertising censorship.
Widespread adoption of digital currency
As well as revolutionizing social media, Tipper’s model also aims to increase the mass uptake of digital currencies. It says to facilitate this there needs to be more scalability. This scalability is achievable through Tipper’s blockchain platform which is made up of innovative blockchain protocol features, including + 250,000 microtransactions for YouTube-scale videos; + 50,000 transactions for tipping on the blockchain, as well as multi-chain mining and transaction level mining.
Tipper’s ICO has already begun. TIPR tokens are available until the 31st March with 1 ETH = 4,000 TIPRs.
Information on each of the pillars is available on the Tipper website: https://www.tippereconomy.io/