Time to call dislike on the like button
Food for thought: If you press the ‘like-button’, do you really like the content you’re engaging with? If not, why do you do it? If yes, how does one know/measure?
The unlikeable truth
The main problem is that the like button does not represent any intrinsic value. To top that, it causes an unnecessary boost of dopamine which gives you a false sense of receiving or achieving something valuable in that moment. That is the reason why you feel good when you see a notification and it makes you go back countless times to see how engaged your audience is with your post. Unfortunately, after this temporary relief you will realise that your content is long forgotten and you will never know how liked it actually was.
Facing the giants
Here is the other part of the equation. Did you know that Google and Facebook represent more than 70% of all online ad revenues? If your data was public, it would be represented on a top shelf as the best seller of the last century. If that’s not bad enough, all the user-generated data is stored in a centralized database as a single-point of access, which one might also refer to as ‘a hacker’s wet-dream’.
Luckily, the blockchain technology has the potential to make the most of the previous obsolete. It’s obvious that the tech giants will not be disappearing any time soon. A clash with these titans might leave a bloody mess, but with cooperation, we might revolutionize the digital ecosystem as we know today.
Salvation
What if there was a platform that would give the (in)famous like-button a real value? And that engagement with valuable content would grant its creator the possibility of generating real revenue?
Imagine this scenario:
You’re enjoying a wonderful Caesar salad at your favorite restaurant and take a picture of your meal. You post the picture on one of your social media channels and every time your followers engage with it, the restaurant rewards you for your word-of-mouth advocacy.This is exactly what the WOM Token does.
More than a like-button
Everything comes down to the fact that we need more than a ‘like-button’ to distinguish quality content and reward it accordingly. The WOM Token does this in several ways.
Firstly, the WOM Token will be used to incentivize content creators to create word-of-mouth content about their favourite brands and products. Content creators are incentivized to do so on their preferred WOM content platforms and encouraged to spread the word about it.
Secondly, the WOM Token incentivizes content curators to verify the quality of the content against a series of WOM criteria.
Thirdly, based on the quality rating and engagement measurements, the content creator and curator receive a specific amount of tokens defined by the WOM distribution algorithms. The content platform enabling the content creation and consumption also receives a share of the tokens flowing to the content creator.
In other words, WOM Token is building an infrastructure to leverage online word-of-mouth recommendations by allowing brands and advertisers to easily connect with online content. These connections are automatically created when users upload their user-generated content, whether it’s a photo, video, or text, in apps and on websites that are integrated with the WOM Protocol. The content parameters, including the link to the product, are attached to a smart contract that measures the performance and enables rewards.
The WOM Token helps brands realize the marketing potential of a behaviour that already happens online, everywhere, every day.
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