Amidst concerns surrounding secret algorithms and the ever-decreasing organic reach of content on networks like Facebook, Instagram, and YouTube, content creators and growing brands are moving to alternative platforms for social engagement.
As Facebook and Instagram become more difficult for content creators to monetize, a new blockchain-based social media platform promises freedom of content with direct-from-platform monetization.
The community-owned open source social networking platform Minds has amassed one million users and has recently launched a cryptocurrency reward program based on the ethereum blockchain for all users on the platform.
During 2017, it gave over 500 million free ad impressions to help users increase follower growth, content exposure, and audience influence.
Users are able to grow their fanbase more easily than on any other platform.
Minds rewards its users with crypto-tokens for like liking, commenting, and sharing. These tokens can then be exchanged for increased views on the network using the "Boost" feature.
The site does not determine what should be censored. Users are free to post whatever they want.
In less than a year, some influencers have received more than one million views as the platform grows.
Brands and advertisers have an opportunity to deliver their content to more users, beyond the typical pay-to-play model of traditional social networks.
Bill Ottman, CEO of Minds, said: "We have successfully proven the demand for an open-ad network that allows our users to gain exposure for their content and grow their followings in a better, more rewarding way.