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Decentralized blockchain project Snapparazzi launched its minimum viable product (MVP) for their forthcoming mobile-app oriented service which promises to significantly change the current state of media and journalism.
The platform will utilise a proprietary token called SnapCoin (SNPC) as the currency of its economy, a coin with which creators and publishers are able to market, sell and purchase content without the need of a centralized intermediary.
From fake news to ad views
There are reasons that we have witnessed a partial exodus of audience from so-called ‘traditional media’ channels towards newer providers such as YouTube, Twitter, etcetera. ‘Fake news’ has been a key term of late, and whilst it is a part of the problem it is far from the only issue plaguing the media sector.
Another is the uncomfortable truth of advertising. Without ads, it would be difficult if not impossible to provide almost universal service access to viewers at zero up-front cost, as well as providing creators with the capital for investing in future productions.
Even the newer digital platforms haven’t been free recently of significant and fundamental criticisms
and the existence of programs such as ad-blockers suggests that many are not interested in such obstacles and may choose to omit them entirely.
Users as creators on Snaparazzi
The primary purpose of Snapparazzi is to provide a platform which allows content creators and producers/broadcasters to interact and trade with each other with minimal fees or interference.
Anybody can become a creator on the Snapparazzi platform using the cameras in their personal smartphones. Despite the size of many news/media publishers and their networks, it is not always possible to have a correspondent available at the scene of the video or photo opportunity at the time required.
Subscribing media institutions can use Snapparazzi’s geo-locational tool to put out timed requests for services concentrated around a specified area - distributed like bounties to participating users, or content creators.
Furthermore, users are given the opportunity to earn cryptocurrency-based rewards themselves. By opting into viewing advertisements, anyone who chooses to access content can collect SNPC tokens – thus incentivizing advertisers further as well due to increased viewer interest.
Said creators are able to retain 80 percent of the total transaction fee from sales as well as a proportion of advertising revenue. This makes it a much more appealing solution when compared to leading platforms. Their content is subsequently verified and approved by a team of independent moderators sourced from the community and incentivised through revenue shares.
Along with the MVP, the Snapparazzi team launched their token pre-sale on 14 September 2018 – as well as the second of potentially many airdrop opportunities. The current price for each token is $0.18 each.
Furthermore, the project has fostered a strong community which further bolsters transparency and trust due to the ease of which one can identify the current sentiments of users or investors regarding performance. One look at their Telegram (which has over 85,000+ subscribers at the time of writing), Twitter (25,000+), or Instagram (17,000+) accounts for a handful of examples can confirm this.
What the future holds
The project website features a comprehensive list of team members who have been confirmed for at least 12 months in their current positions, as well as a number of notable advisors.
It also makes clear their intentions for the future through their roadmap which not only details December’s mobile-app launch, but also the token’s release on market exchanges this November.
Next year promises the establishment and opening of international “strategic offices” in Europe, the USA and Asia, key partnerships and an advanced video-feature beta.