To be fair, there isn’t an intrinsic problem with chat apps. No issue with the usability of leading apps like WhatsApp, Telegram, WeChat to name a few. No issue with the necessity of these apps for majority of the population to function. In fact, chat apps have become sticky and the most used app on smartphones even for businesses.
Monetising the unmonetizable
Since chat apps have now become commonplace for businesses to communicate and for communities to proliferate, they are now an active and realtime ecosystem of their own. Within such ecosystems, there is a blindspot- users are not able to monetise their groups.
There is a (un)popular saying, “if you don’t pay, you’re the product”. Without users paying for use, chat apps are typically unable to offer any monetary incentives to users who are amassing large groups. These ‘community leaders’ may be treated like ‘products’ much like other users, and are not rewarded for the communities that they have laboured to form.
With a model of monetisation for chat apps that does not depend on advertising income, there may be opportunities to allow ‘community leaders’ to monetise, consequently leading to a tremendous shift in communities to one platform- network effect.
Consentium solution
Consentium uses the fees from its multicurrency transfers in-app to directly reward the creators of big groups. This is ground-breaking in many ways:
- Small businesses/influencers can be created around offering strong content to users, without worrying about charging for their endeavours.
- Businesses with an existing community can use their rewards to further incentivise their following, or lower the price points on their products/services based on their numbers.
- Non-profits can be rewarded for bringing awareness to their causes within their community.
- Appealing to the crypto-communities, many of these token/coin communities can make the shift to Consentium, which in turn leads to a higher reward pool for all groups due to a knock-on effect of increased number of in-app crypto transfers.
The ability to monetise their communities is a holy grail for any creator. The population shift toward such a platform like Consentium is going to be seismic.
