London, United Kingdom, Oct. 27, 2022 (GLOBE NEWSWIRE) — The need to reward and empower social media users, while providing security and control over personal data, has developed MySocialVerse as an advanced product that combines the concept of social media with blockchain to create a decentralized platform that gives users autonomy and reintroduces self-control/ownership of their content and data.
The platform offers various tools to users, business entities and blockchain developers, which include:
1. Passive income is given to platform users,
2. Users maintain control over their data through decentralized means,
3. Revenue generation for developers and uplifting product sales by advertisers.
The MySocialVerse platform strives to develop features that allow users to monetize their social media activity. Given the decentralized nature of the platform, users will have full ownership and control over their identities, data and other intellectual property. As such, users can tailor the content they receive via the platform to suit their specific passions and interests. Users can choose the advertisers they want to share their data with for commercial purposes. They will then receive payment from the advertisers directly for doing so in the form of MySocialVerse’s native token.
The advertisers get mutual benefits, as the users who engage with their content will be closely aligned with the target audience, thus increasing the possibility of increased sales generation. The platform ultimately provides an opportunity for users to acquire tradable tokens by simply browsing, sharing and creating content with MySocialVerse.
Additionally, the platform facilitates traders with opportunities for developers to monetize their work. Developers can conceptualize, design, develop and seamlessly deploy various digital applications, games and spaces on MySocialVerse.
Furthermore, MySocialVerse’s initial token is designated as ‘MSV’, which will then be distributed to users, contributors and developers. The MSV tokens will be tradable on major decentralized and centralized exchanges, providing direct liquidity routes to other cryptocurrencies or fiat currencies. To ensure that an anti-inflationary/deflationary nature is maintained, a portion of the tokens generated in each transaction on the network will be burned, permanently removing the tokens from circulation.
In the case of Tokenomics, the transaction fees charged when trading or transferring MSV tokens will be 5%, with 1% used to fund marketing efforts and 1% sent to the liquidity pool, and 3% BUSD rewards. Accordingly, MySocialVerse reinstates the control that all users can have over their data, while all associated monetization can be retained by its rightful owner, the user.
About MySocialVerse
The newly established crypto platform combines blockchain technology with social media concepts. It creates a symbiotic relationship between the user and the advertisers through the company’s cyclical model, where both can gain financial benefits through the use of the platform functions.
In addition to the financial features, the platform provides additional user interface, security standards and promotion of a friendly user environment, all of which are necessities for social media platforms.
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