We live in exciting times folks.
Most people that frequent the internet have now heard of cryptocurrency or the underlying blockchain… and like all emerging technologies throughout history it has caused oh such beautiful chaos.
Some have become millionaires over night by participating in one of the many ICO’s… others have been scammed and lost everything. Some proudly proclaim the Blockchain has no future and that cryptocurrencies are a bubble; and some boldly state they will continue to appreciate with all centralised hubs/products/institutions fading into irrelevance… But then there are some such as myself who sit somewhere in the middle; who think it more likely that the future is centralised and decentralised systems working together… Many blockchain projects and tokens will succeed, but many more will fail.
One of my personal favourite ventures that I think could indeed make it past this ‘great filter’ described is actually the older Synereo project. Some might say it has even been “forgotten”, if that is the case it will not be for much longer with the release of Wildspark. Below I have broken down everything I think you need to know into 10 questions…
What is Wildspark?
- Wildspark is a new innovative decentralised platform that will propel online content to the next level. It allows you to easily reward your favourite creators as well as reward the people who shared that content with you. It is the first step in establishing a “Liberated Attention Economy” and acts as a meta-layer on top of existing platforms. So far the three supported products are Youtube, Medium and Imgur with many more to be added in future. If you create content with any of these platforms you can start earning money right now with Wildspark!
- If you have used the internet over the past year it is likely you have heard about the recent controversy surrounding Youtube, more specifically the waves of content creators that are getting unfairly demonetised. Platforms like Wildspark (as well as others) are now ready to turn internet content creation on it’s head by allowing content creators to FAIRLY monetise their works for the very first time.
What is Synereo?
- If Wildspark is the first attention economy product then Synereo is the first attention economy company. It was founded in 2014 by Dor Konforty, Anderson McCutcheon and Greg Meredith with the goal of creating a new decentralised social network, a network where users get compensated fairly for the value they generate; connecting users directly.
- At first the project was even more ambitious than it is now because as well as making a “Facebook killer” the team had planned to create their own blockchain as none existed that could scale on the level required: Essentially a tech stack to rival that of Ethereum. Over time it became clear that it would take much longer to develop the blockchain but of course the attention economy products were needed as soon as possible. This caused a split in the team; Greg Meredith and others continued working on their blockchain technology and founded “RCHAIN”, while Synereo returned to their founding principle of dApp creation. However this did cause some controversy.
- This leads us to today: Synereo has just released it’s first attention economy product… and as well as providing regular updates to Wildspark are working on another mysterious “Product X” to be released later this year. These products are being developed and refined in a centralised manner then once the appropriate blockchain or other distributed ledger technology has been developed the Synereo team will begin the decentralisation process. If you want to find out more as well as see the recently updated roadmap and team page you can check out the official website at synereo.com
What is $AMP?
- AMP is the digital currency issued by Synereo in early 2015 that powers attention economy products. It is currently an omni asset but will move to the Ethereum blockchain in Q2 2018, this will be done through the web app wildspark.me.
- Something that is important to note is that 61% of AMP’s were set aside for funding purposes, which is a decision that has also attracted some controversy. However as stated on the official website “Synereo will only ever release and use AMPs as a means of acquiring more users for its platform, incentivising them to use it, driving growth, and facilitating networks effects.”
How does Wildspark work?
- When you discover something great online and share it with others you are providing a valuable distribution service; Wildspark allows you to get paid for this process. “Amplifying” a piece of content on Wildspark provides you with a link to share with others as well as posting it to your feed. The economy model is subject to change but currently one third of your amplification goes to the creator, another third to the curator who shared it with you and the final third goes to the “fractal reserve”.
- If the people you share it with appreciate the content and your curation services they can also amplify the content through your link which they can then share with their followers and so on. This creates what we call an amplification chain.
What is the “fractal reserve” ?
- The fractal reserve is AMP distributed throughout the amplification chain, the cut you get from the fractal reserve depends on a few different factors.
- I will not go too deeply into it here as there exists a white paper for that. But in a nutshell the more AMP you invest in a piece of content, the more of the fractal reserve you are entitled to.
Click here to view the whitepaper.
What is the best way to earn money with Wildspark?
- It should go without saying that if you already have a lot of attention flowing around you, you will have an advantage when earning curation rewards because of your large amount of followers. However even if you are not so lucky you will be able to do well if you put the work in. I use the term “work” lightly… just get out there, find some great stuff and share!
- Spend lots of $AMP on other Wildspark creators! This may seem contradictory giving away your currency in order to make money, but in order for WildSpark to succeed it must be shown to work as intended: the more AMP WildSpark users earn, the more likely they are to recommend the platform to others, the more the value of your own AMP will rise.
Who am I?
I am an aspiring content creator. If you care to you can find me on Wildspark as “Obbly”… and if you appreciate this article maybe AMP it a little? :)
Who are you?
- You are a person who values their time and attention. You want to discover amazing content that is curated by your peers, content that will entertain you as well as improve you as a human being. Not content curated by an algorithm that is designed to hold your attention and leech off it for as long as possible. You also want to give back to those that hold your attention as repeatedly getting something for nothing is demeaning for you so… what are you waiting for?