Yours is associate degree future social media application that intends to bridge the gap between content and payments. The system uses bitcoin micropayments (via a system kind of like the Lightning Network) to permit users to send cash to every alternative.
Creating a brand new social media platform high-powered by bitcoin isn’t a brand new conception. Zapchain and ChangeTip tried to make businesses round the conception of “social tipping” within the past, however neither project was ready attain an outsized quantity of success.
“The drawback with tipping is that almost all individuals simply don’t tip,” explained Yours chief operating officer Ryan X. Charles on the most recent episode of Blocktalk. “It’s not terribly incentivizing to tip individuals. Some individuals have a go at it, however you’re virtually on no account reaching to earn a living from simplyexpecting individuals to voluntarily offer you cash simply because they such as you.”
The Yours team is presently performing on finding the correct combination of incentive structures to pile up content creators and their paying audience members. Charles explained 3 attainable content substantiation models throughout his recent look on Blocktalk.
The Endorsement Model
The first method delineated by Charles that content creators might get paid on the Yours platform was through what he known as the endorsement model. the thought is that those that area unit endorsing content via the Yours equivalent of Reddit upvotes or Facebook likes pays a number of cents to the content creator for every endorsement; but, the content creator solely receives half the funds hooked up to every endorsement (except for the primary one), and every one of the previous endorsers receive the opposite [*fr1].
Charles explained the advantages of the endorsement model:
“First of all, it rewards the content creator. Secondly, it encourages individuals to endorse content as a result of if you’re sensible at it and you’re one in every of the primary endorsers on one thing that becomes standard, you’llbenefit from doing thus.”
“It provides a profit motive for endorsing content,” side Charles.
Blocktalk host Alex Sterk noted that the endorsement model sounds kind of like a multi-level selling (MLM) theme, and Charles united that it should be kind of like some style of MLM or affiliate selling strategy.
Charles conjointly admitted the endorsement model isn’t good. “Not everybody will profit,” he said. “The solelymethod this works is that if the general public are literally losing cash. Those individuals aren’t reaching to be terribly happy concerning the endorsement model.”
The Purchase Model
The next content substantiation model printed by Charles was the acquisition model. This technique is wayadditional easy as users area unit primarily simply shopping for content from alternative users on the location.
The key differentiation here is that users area unit ready to preview an outsized chunk of the content before paying for it. as an example, the author of a sci-fi novel might enable readers to relish the complete book, apart from the last chapter, for free. The author might then charge a fee for readers to search out out however the story ends therein last chapter.
“Anybody World Health Organization truly likes a piece and extremely desires to browse what your conclusion is can wish to browse that last [paragraph],” aforesaid Charles.
Charles noted that there may be an outsized quantity of flexibility offered to users with this technique. It will work for primarily all differing types of content (music, podcasts, articles, books, videos, etc.), and content creators willopt for abundant|what proportion|what quantity} to charge and the way much of the content they ought to make known at no cost.
The Investment Model
The final content substantiation model printed by Charles throughout the interview was the investment model. this is often associate degree extension of the acquisition model that enables users to speculate in content creators on Yours. rather than shopping for a piece for 10 cents, a user could plan to invest 10 bucks in exchange for a proportion of all future revenues obtained from the article.
During the interview, Charles remained sensible in terms of whether or not or not any of those choices can end up to be the killer use case for Yours. “Whatever we tend to launch are associate degree experiment,” he said. “I can’t guarantee that it’ll truly work. [But] I’m utterly convinced some combination of content and payments can work, and it’ll be vast.”