The rising popularity of crypto is now helping to challenge our social norm. Discord over Facebook privacy issues and Twitter censorship have seen users delete their accounts and/or seek alternative sources for their social fix. Facebook Inc. NYSE:FB still remains the Daddy of all social media. As of the third quarter of 2018, Facebook had 2.27 billion monthly active users. However, 2018 saw Reddit replace Twitter in 11th place with 330 million active users in April 2018, signifying the change in habits in our social media choices.
One rising star is Mamby a post sharing community not unlike Reddit or Pinterest, but one that pays its content creators in Bitcoin. Any content can be uploaded. Anything from videos, images, text and links gets accepted. Every post view post earns the content creator between 10 and 100 satoshis.
The Mamby platform itself is built on an algorithm based on a users previous interaction, providing a highly customized feed to users, and paying its content creators in Bitcoin. Mamby provides a cheap and quick option for international micropayments. The crypto element in social is not something new, however, paying in Bitcoin (BTC), the most famous and desired of all the cryptocurrencies, brings the social media and crypto worlds that little bit closer and larger.
Having initially welcomed crypto, or its advertising money at least, 2018 saw Facebook, Twitter and LinkedIn, all ban ICO advertising. Having boomed in 2017 and even early 2018, following December;s crypto crash, monies raised by ICOs fell to a 12 month low in the second quarter of this year. The US SEC has targeted a number of scam or fraud ICOs and the public as a whole are generally more aware of what to look for.
Depute the high volatility of digital currencies, the public’s appetite for crypto has not abated. Now, with an emerging crossover between crypto and social, it looks as though our social media ways could be changing faster than we know it.
