Minds: The Latest Social Network That Is Changing the Game
Watch out as this newcomer takes off
Imagining one year ago that TikTok would shake the status quo of social media would have been impossible.
Yet the platform has been operating since 2016. Tiktok took a few years to become global and to become a serious competitor to the current giants.
I was doing my usual research on Google Trends about social media when I saw an unusual spike in one keyword in particular: Minds.
So as my curiosity level spiked, I analyzed them through their app, the articles, and videos that were out there.
The idea is pure gold — and could be the disruptive model that social media is craving.
Why This Spike
I love to understand the reasons behind trends.
It didn´t take me long to find out why the “Minds” search volume was booming.
One of the advisors of the platform, Deryl Davis an inspirational figure, was interviewed by Joe Rogan on the JRE podcast.
They talked about the potential and benefits of Minds for the consumer, and how they will change the landscape.
The reach of the show made this possible.
What is Minds?
The CEO and founder Bill Ottman describe it as such:
Minds is an open-source and decentralized social network for Internet freedom, where users earn crypto tokens for their contributions to the network. The tokens can be exchanged for more views on content or sent to other channels as a tip or paid subscription. We’re built on a foundation of privacy, transparency, and free expression. As other networks continue to lose the public’s faith, Minds has more than doubled since last year, now with 200K+ monthly active users and 1.25M+ registered users.
To describe it in simpler words, the social network is utilizing blockchain benefits to enhance the user experience and benefits.
The platform aims to give back the privacy and reward user engagement.
How are they achieving this?
“Minds is the anti-Facebook that pays you for your time.” Wired
Blockchain has many features, and the platform is utilizing them masterfully.
- Open source: Allowing the users to be part of the development team is usually a rewarding choice. Who other to understand the current problems of the platform than the user itself? Like WordPress or Linux, this will be an ever-evolving place that is destined to improve in the long run.
- Privacy: With all the recent scandals related to data privacy, the public is now aware of the dangers of using social media. Minds is hosting an encrypted chat service on their website.
- Gamification: The platform rewards you with points that you can trade to boost your exposure or to access exclusive content. This will make time spent on the app far more valuable.
- Monetization: By allowing subscriptions and rewarding referrals, the content creators and marketers will be delighted to finally experience fair monetization.
- Full reach: Forget about Instagram falling reach and the 3 to 5% that you are used to achieving. Here, your content will be seen by 100% of your audience.
At this point, you may ask yourself: is this article a plug?
Not at all, but I´m a big believer in momentum.
I think that blockchain has matured enough to hit the big market within the next two years, and one of the biggest winners will be none other than Minds.
Focusing on the customer experience, as Jeff Bezos many others in the business industry said, is the winning formula.
Secondly, the platform has been operating since 2015, which gave them time to evolve and develop better solutions.
Finally, I think that the founders were really smart in their partnerships by including high-quality ones to their arsenal. They were featured in publications like the New York Times, Reuters, and Wired, to name a few.