As rewarding as life should be
How Futourist will reward users for their content
Each day, 95 million photos and videos are shared on Instagram and staggering 300 million photos get uploaded on Facebook. With such expeditious growth of shared online content, gaining more and more influential power on how people make decisions and experience their daily lives, a reevaluation of content and its creators actual worth is in place.
Let’s start with a simple question:
Have you ever shared a photo or a video of your ordered drink or food on social media?
If you have (and you probably did — a study showed that 70% of Millennials take photos of their food before eating), you have done an enormous favour to not just all consumers, providing them with simple but valuable guidance on where to go and what to experience, but also to the owners of the business in question, enabling them to provide potential customers with solid social proof, build immediate trust, attract more people and consequently increase their revenue. How noble of you, right?
Now, let’s go to the second, crucial question:
Being as helpful as you obviously were, have you ever received anything for your shared content?
Putting the handful of content creators who actually managed to establish paid collaborations aside, most of you probably create and share content online without expecting anything in return, no matter how valuable it actually is. While it is definitely amazing to see that there are so many people in the world who are prepared to selflessly help others, we believe that they are actually the ones who deserve to be fairly compensated for their meaningful contributions to the world the most. That is why Futourist’s main mission is to change the world’s perception of the value of all content creators by implementing a revolutionary new benefit for them in the current unfair reviewing system — rewards.
You deserve better
The existing travel review platforms see reviews as free content, written solely out of altruistic nature of the users and available for platforms and businesses to freely use and take advantage of for their own financial gains. Well, we believe it’s time for a change — all reviewers who are willing to help others by sharing their experiences with the world should start getting fairly rewarded for their created and shared content. Let’s take a look at what we have in store for them:
FTR token rewards
Powered by blockchain protocol solution, FTR tokens will be used to monetize users for creating meaningful content for others. To put it simply, for every review you will post on the Futourist platform, you will get rewarded with a number of FTR tokens according to the rating of your review. For you to be able to safely store your tokens and always have them ready to spend, we have partnered up with Sofitto, providing you with Sofitto mobile wallet, Sofitto card and amazing benefits, more about you will be able to read in one of our next blog post.
Achievements and badges
To make the Futourist app as fun and rewarding as possible, we have implemented a number of compelling gamification elements. They will not only make using the app much more exciting, but will also enable you to track your progress and slowly move up the Futourist ladder of our most valued content creators. As we are very well aware of the fact that our most devoted users are the ones who will bring the most to the Futourist community, we will not only reward them with bigger token rewards, but also with some thrilling exclusive features. To find out more about the gamification of our platform, stay tuned for a blog post coming in the next few weeks.
We rise by lifting others
We are striving to create a platform which will provide relevant content for users, by users, which is why the helpfulness of the reviews will play the main factor in determining how big the received reward will be. To be more specific, the size of the reward will be calculated according to the ratio between the number of views and the number of upvotes the review will receive — the more people that will recognize your shared content as helpful and upvote it, the bigger amount of tokens will be awarded to you.
As already mentioned, the second factor that will play a part in determining the size of the reward will be the reviewer’s previous contributions to the Futourist platform — the more helpful and thus trusted the reviewer has been so far, the bigger reward he will receive for his shared content.
The 80–20 Rule
The Pareto principle, also known as the 80–20 rule was originally applied to describe the distribution of wealth in society, where 20% of the population controls 80% of the wealth. As further observations were made, it was discovered that the same distribution fits to a wide range of cases, including natural phenomena and human activities, like for example:
- 20% of the workers produce 80% of the result
- 20% of the bugs cause 80% of the crashes
- 20% of words account for 80% of the word occurrences
- 20% of the customers produce 80% of the revenue
Inspired by the Pareto wealth distribution and its representation in the world, we have decided to implement this formula to the Futourist platform in order to establish a fair rewarding system for all reviewers based on their ratings. This means that the best reviews will be rewarded with the biggest amount of tokens and at the same time, no reviewer will stay without a reward as the Pareto chart curve ensures a long-tail (most of the users) reward distribution. Using this type of wealth distribution guarantees high rewards for the best reviewers as well as decent rewards for the long-tail of reviews, leaving no men behind.
People who create content and are willing to help others by sharing a taste of their experience with the world should feel as appreciated and valued as they deserve to be. By implementing rewards into the current reviewing system, Futourist will not only finally start to fairly reward all content creators, but will also provide many more consumers who are currently only reading reviews with crucial incentive to also start sharing their experiences and get rewarded for them.
The more people that join in on both sides of the reviewing system, the more representative the review ratings will be, which is why Futourist aims to become the most thorough and reliable real-time tracking reviewing site available, providing users with trustworthy recommendations for the most awe-inspiring experiences and helping businesses turn valuable user feedback into impressive profits.
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