It’s always good when a startup does a little soul-searching.
Along its path to creating an internet meta-layer for equitable, decentralized content creation and distribution, the Tel Aviv-based Synereo decided its flagship product, Qrator, needed a new brand. So, it renamed the content creation, curation and delivery platform to ‘WildSpark’.
“As much as we like Qrator, being a clever little pun, working on the product revealed it to be more than a mere means of ‘curation,’” writes the team in its blog.
With its new name, Synereo wanted to capture the adventurous elements of discovering content online. Named by technology research firm Gartner a “Cool Blockchain Vendor” in May, Synereo researched its mainstream target markets, as well as held a small focus group discussion, before settling on the new identity.
“WildSpark is the first publicly available product that makes use of the ‘AMP’, Synereo’s digital currency,” said Synereo Co-Founder and Chief Marketing Officer Anderson McCutcheon in a press release. “WildSpark addresses the fact that content and its creators are bound by the monetization methods and strict guidelines mandated by a few large mega-corporations.”
McCutcheon adds: “Following the investment of AMPs in the content, the curator gets a unique link that they can share with their followers and friends. If more people use the link and ‘Amplify’ the content, the curator responsible for content discovery gets a share of the contribution.”
Altogether, WildSpark is Synereo’s first step towards building a freer and fairer economy for content creation and curation. “Our goal is to build novel, fairer tools and solutions for content creators, curators and all participants in the content-based value creation chain,” says Dor Konforty, Founder and CEO of Synereo. “WildSpark is the first solution that allows direct compensation for value creation, and transfer of digital currency, on top of existing platforms and without being bound by them.”
The CEO adds: “We aren’t competing with YouTube for hosting the content — we are introducing a way for curators and creators to monetize their existing activity, outside of the platform itself.”
Wildspark is designed to be “more than a browser extension,” as the company notes in its blog. “Amplifying content involves sharing your unique links with others who don’t necessarily have the extension installed.”
By collecting data and information about the types of content in which people invest, WildSpark creates a “new content feed and suggestion mechanism,” which provides users with a socially-curated, AMP-backed content stream. When a WildSpark user Amplify’s content, it’s not just a tip or voluntary payment.
“Amplifying means teaming up with a content creator and becoming their partner,” writes Synereo in its blog. “After choosing the desired amount of AMPs to be invested in a piece of content, [WildSpark] generates a unique link, associated with your account, which you can then share on social networks or otherwise distribute as you see fit.”
Synereo elaborates further: “Your friends and followers, clicking on the link, will be directed to this content embedded in the [WildSpark] site and presented with the option to Amplify and share it as well. If they choose to do so, a share of the AMPs invested by them will be credited to you and to the person you discovered the content through, while a significant part will be handed to the original content creator. The more AMPs you invest in the content, and the more traction you create, the higher will be your reward from future Amplifications.”
WildSpark, which enters its Beta phase starting on June 30th, is accepting early-access registration.