Alright, peeps! Let us tell you a secret,
You might have given thousands and millions of likes on Facebook but never made a single penny. But what if we tell you that there is a DApp (a decentralized app) that gives you rewards in cryptos for every ‘LIKE’ that you give? 😱
Too good to seem true? Right? Well, that’s the beauty of “SNAC” .
You might have heard of reward-based social media platforms like Steemit, Akasha… Ok, wait, let’s not talk about the same boring stuff again and again. But still, if you are newbies into Bitcoin thing, and don’t know what are the ‘reward sharing blockchain-based social media’ are (they are even cooler than this long title), check out our last article here, or here or even here :)
Let’s get straight into the business. What is SNAC?
In simple terms, SNAC is a social media based on a blockchain that rewards both the content creators and content consumers. SNAC is developed by the team of Futurepia and will be the first-ever reward sharing social media DApp launched by a Korean company.
The stable Token of SNAC app is also called SNAC which is worth 1 KRW.
The idea behind SNAC is simple — compensating people for the quality of content they create and curate, and for the value, they add to the network.
Some Cool Features of SNAC
While SNAC comes with one heck of a ton of features, making it an “all-in-one” sort of an app, here are the main features that will be rolled out during the beta version.
1- Main Feed
SNAC allows users to upload content in every form — text, photo, and video. Uploading content is simple and fast but unlike many other social media platforms where the newsfeed is full of irrelevant content, SNAC allows you to choose the hashtags of your choice at the time of signup and the content related to those hashtags will be shown.
2- ‘LIKEs’ are invaluable
SNAC gives huge importance to the things you LIKE and DISLIKE. On existing social media platforms, you can give unlimited likes but SNAC values each and every like that you give. How?
Every time someone like a post, both the content consumer and creator gets 10 SNACs (Remember 1 SNAC = 1 KRW ≅ $0.00085)
More details will be provided in a separate article, but the main thing to remember: LIKES is one of the ways to earn cryptos in SNAC.
* You can like upto 10 times for free to get 10 SNAC/Like. From 11th Like, 10 SNAC per like will be deducted.
In order to improve the quality of the content, SNAC works like a competition based app having rounds where content creators are competing with each other to win the place on the BEST Feed.
3) VOTE
Once the ‘BESTing period’ is over, people would be able to see the top 10 posts on the BEST Feed. People can now VOTE up to a maximum of 3 posts.
Voting also comes along with rewards. Voting reward = 100 SNAC(once per round)
4) BETTING
Betting is the most exciting and unique feature of SNAC. Have you ever played or wanted to play Roulette, Poker, Barakat? Or have you ever bet on a football game?
Well betting on the games is a thing of the past now — how about betting on the content? You can now with SNAC :)
With SNAC, once ‘BESTing round’ is over Betting round starts. You can bet on any content you like out of those 10 in the BEST Feed. For the top 3 posts, rewards are given to their original content creators and betters who bet on those posts. More details in a separate article.
