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Follow Extension

Decentralized Reward System Extension

Follow Extension is an extension that helps service applications to apply a decentralized reward system using blockchain technology. By applying Follow Extension to each service application, content providers and consumers can trade content at an affordable price away from paying excessive commission fees on existing distribution structures. Not only that by applying Follow Extension to social media platforms that originally do not give any reward, a new market can come together where content providers are motivated to create and provide valuable, high quality content.

2.0
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Benchy 2.0
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Unknown
Token
FOLLOW
PreICO Price
1 FOLLOW = 0.4 USD
Price
1 FOLLOW = 1 USD
Platform
Accepting
ETH
Minimum investment
1 ETH
More on ICO
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About Follow Extension

There are variouscontents providerssuch as writers, columnists, cartoonists,musicians,streamers, youtubers, and bloggers in online. However, online contents providers deliver contents to consumers through platforms that provide a market to show their contents because they cannot make a profit directlyfrom consumers on socialmedia platforms such as Facebook, Twitter, and Reddit. For example, musicians and streamersprovide their contents through music streaming service platforms like Spotify and game streaming platformssuchas Twitch. However, companies that connect subscribers and contents providers demand a significant proportion of revenueto contents providers as commission. Many recent studies showed that if musician can make direct transactions with their consumers by using blockchain technology, musicians’ profits may increase tenfold. If suchsmooth transactions are possible, contents providerscan be rewarded reasonably while consumers can enjoy contents at a muchlower cost.

While Socialmedia platforms like Facebook, Twitter, and 3 Reddit were able to achieve a multi-billion-dollar market cap based on free user- generated contents, users who providedcontents through these platformsdid not earnany direct profits. In 2014,Reddit mentionedthat if contents providerswere rewarded fairly, Reddit wouldhave become a platformproviding much more valuablecontents than it is now. This is truenotonly for Reddit,but also for Facebook and Twitter. If contents providershad madeproper profits from their posts,they wouldhave been motivated to update more of their knowhowsand high-quality information in their contents.

In conclusion, by usingthe blockchaintechnologynot only can we improve the current inefficientreward system for contents providers and consumers,but also potentiallycreate a new market withinthis field.

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