Alexandra is a software engineer who specializes in core banking systems development for financial and IT spheres. Taking strong interest in blockchain, cryptocurrencies, and IoT, Alexandra got deep understanding of the emerging techs believing in their potential to drive the future.
WildSpark, Synereo’s first product, offers creators of original content an opportunity for direct monetization.
Creating high quality content is difficult, but making it profitable is even more complicated. Most popular platforms created for sharing various types of content keep the majority of ad-generated revenue for themselves.
Users can only reward and “support” creators with likes, comments, or shares. But the situation is changing, as Synereo – a company which is working on blockchain-based solutions for content creators – has already released a beta version of its first product.
WildSpark is the first tool to represent the Liberated Attention Economy concept of Synereo. It provides content creators with an option for direct monetization, without restrictions. As long as creators make good content, their audience will reward – i.e. monetize them.
At the moment WildSpark is in open beta. This explains some of the restrictions users of WildSpark may currently face. At the moment the platform works just with YouTube, but more platforms are expected to be incorporated into the project after the official release in two weeks. They have now launched a Creator Program, during which Synereo expects over 100 content creators to join the platform.
The Creator Program offers a significant reward, for four special tiers of users: Silver, Gold, Platinum, and Diamond Tier creators.
In the Silver Tier of Creator Program, one needs to have over 300 subscribers; for the Gold Tier, one needs over 1,000; for the Platinum Tier one needs more than 7,500 subscribers, and the highest Diamond Tier is for creators with more than 10,000 subscribers.
Bonuses start at 750 AMP for the lowest tier, and go up from there. Synereo has allotted a total of $500,000 worth of AMP for the Creator Program.
YouTube creators wishing to join the Creator Program should fill in this form.
To create good, interesting content is only half the battle; it is also extremely important to find the audience and spread the content around. WildSpark considers this, as well, and offers reward for both creators, and curators.
Creators who use WildSpark as an additional means for monetization allow their followers the opportunity to be monetarily rewarded as well. When curators send AMP to the creator of content they appreciate, they receive a portion of all future AMP rewards others send to that piece of content, creating an ecosystem in which creators are rewarded for the content they generate and curators are rewarded for spreading the word.
What makes WildSpark especially attractive for users is that no reward goes to the original platform where Creators post the content – or to WildSpark itself. The AMP one gives to content they like goes directly to the people who created it and helped it reach an audience. The precise calculations for the AMP reward distribution are described in Synereo’s whitepaper, although the formula may change at some point, as the project develops.
Dor Konforty, founder and CEO at Synereo, said: “With the upcoming release, WildSpark will go mainstream, and moving forward, we are going to provide content creators with the best means for monetization available, utilizing novel blockchain technologies to support their creative process.”
The future plans of the WildSpark team include creating opportunities for creators to reward their most active fans and further develop alternative ways for the monetization and promotion of content.