This blockchain-based social media platform goes after TikTok

Social media is the digital world’s best source for entertainment, communication and self-expression. Despite the development of new ways to monetize content, this monopolized market still lacks a transparent and engaging reward system for user-generated content. On top of that, there is no reliable voting mechanism for crowdsourcing decisions.

For example, TikTok, a popular application that allows users to create video shorts, implemented monetization features such as the Creator Fund and virtual gifts. However, the platform’s reward system still lacks transparency and fairness. Creators often express concern about the uneven distribution of revenue and the opacity of the algorithms that determine their content’s reach and visibility.

Using the embedded paid advertising tag appears to result in lower content views. Some successful TikTok influencers even saw their views drop after joining the fund, suspecting the app was intentionally limiting their visibility to limit payouts. One of the influencers told Wired: “I ended up leaving the Creator Fund. I would much rather have my followers watch my videos than earn a few cents from views. I’m disappointed in the way it hurt people more than it helped.”

Besides the lack of transparency, another problem that plagues most social media platforms is the lack of a reliable and trustworthy voting mechanism for crowdsourcing decisions. While users can gather opinions through comments, likes or informal polls, these methods are susceptible to manipulation and lack the security and verifiability required for transparent decision-making.

Source: SocialBlox

Privacy is king

To address the chronic lack of transparency and trust, the Dutch social media platform SocialBlox leverages blockchain technology, with its main features around decentralization, transparency and security. The all-in-one platform allows users to unleash their creativity by sharing photos and videos to engage with communities.

The social media ecosystem is powered by SBLX, SocialBlox’s native token that users can earn as a reward for using the platform and convert on secondary markets such as decentralized exchanges.

To begin with, SocialBox addresses the most important issue of privacy by not sharing user data with third parties or using it to optimize its content algorithm. Social media giants, including Facebook and TikTok, have been accused of privacy-related wrongdoings, such as leaks and misuse of personal data. SocialBlox has no revenue model for selling data. It does not disclose or sell user data to third parties.

Another feature that highlights the user-oriented approach is privacy mode access. By default, the SocialBox app does not display ads. Users can allow companies to display ads and collect SBLX tokens as a reward.

This app paves the way for post-to-earn platforms

Earning rewards from serving ads is a good incentive, but the platform’s most interesting implementation is its post-to-earn initiative for users who complete challenges on the platform. With this feature, users can earn SBLX tokens by accepting challenges set by other individuals or groups. For example, users can track challenges and receive updates with a single click. They can engage followers in decisions such as holiday destinations, car colors or meal choices, with the majority deciding the outcome. Thanks to the transparent voting system supported by the verifiable nature of the Polygon blockchain, the application eliminates concerns about fake voting rounds. This transparent voting system also provides a significant opportunity for companies to attract participants in their voting rounds.

In the future, companies could challenge users to share a video of their newly purchased products in exchange for SBLX, or influencers could complete personal challenges submitted by their fans. And the SocialBlox app will allow creators to live a more decentralized life by providing the tools and platform to connect and share content with millions of people.