Later this month the decentralised media-sharing platform company ‘Snapparazzi’ will be releasing the first version of its application.
The main focus of Snapparazzi appears to be its quest to be different from the existing mega-platforms and the aspiration to become a completely decentralised system.
With an online global community reaching tens of thousands of supporters, Snapparazzi is regularly emphasising, in its social media campaigns, the importance of ‘fair rewards’ for users of the platform (Creators, Viewers, and Moderators).
60% ad revenue for Creators and 20% for Viewers
What it is actually offering is a substantially higher percentage share of advertising revenue (60%) to its video Content Creators compared to the amount assigned by current popular platforms.
However, the crucial difference is the added incentive for Viewers to earn, simply by watching videos with targeted advertisements, (20% of ad revenue) and the fact that rewards will be given, mostly, in cryptocurrency.
Can the Blockchain solve the problems facing traditional video-sharing platforms?
Thanks to Blockchain Technology, Snapparazzi has created its own utility token to fuel its ecosystem, SnapCoin (SNPC). Given the speed and security blockchain provides for payment systems, this clearly gives a platform such as Snapparazzi an additional advantage.
A noticeable amount of “bad press” has come to light recently, with regards to payment issues for video creators using traditional platforms to earn a living. A whole host of complaints has transpired including; technical faults involving data management; lost and frozen view counts and comments; de-monetisation, and censorship battles. A nightmare for Creators!
From Niche-Market to Mass-Appeal
Snapparazzi was represented at London’s ExCeL Exhibition Centre last month for the famous ‘VidCon’ festival and conference, where video Creators, Agents, and Industry Experts connected to share experiences and knowledge.
The proposed business model that Snapparazzi explained there was enthusiastically received amongst this collective group. In an unusual twist, Snapparazzi will allow a Fiat payment option to aid mass adoption. Although at first this move seems to contradict Snapparazzi core values, responses were positive.
Perhaps this is the way forward to attract, introduce and convert the general public into using cryptocurrency?
Intense activity: Token Burning, Stack Bonus Incentives, New Listings
As for the SnapCoin token itself, there has been plenty of activity logged in recent weeks.
Firstly, the burning of unsold tokens, planned to raise the value of the SNPC currently in circulation. The current crypto-market, we know, is especially challenging! On reflection, this platform will ultimately benefit from being fully operational, allowing its utility token to function as intended and really strengthen its value.
In order to help coin-market matters, Snapparazzi is actively encouraging its token holding community to continue to HODL their SNPC through a ‘Stack Bonus Incentive Scheme.’ An annual schedule for bonus token distribution was recently published, and February saw the first of the 12 monthly distributions planned. According to their own blog, tokens are automatically sent out to private addresses containing SnapCoin.
The ‘Stack‘ is evidently a mix of surplus tokens from the ICO and additional tokens relinquished by Snapparazzi team members and advisors, that they say is a show of their confidence and dedication to the project.
An exclusive first glimpse of the Snapparazzi DApp!
The company has just released the first images of the DApp screens, which have been custom designed to incorporate features such as crypto-wallets and to show platform Users their balance and earnings in SNPC and Fiat equivalent.
Home-screen icons lead users to the key Snapparazzi elements of Content Creating, Viewing and Moderating. Overall it looks like a promising product and concept, but competition in this arena is notoriously tough.
It will be interesting to see how the launch of the DApp affects the market movement and value of the SnapCoin.
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