Once upon a time, social media networks provided great value to their users. You would get a platform to interact with your friends, share what matters to you, and entertain or inform yourself with postings that others have made. This came to users for free, all in exchange for just having to look at a few ads every now and then.
Today, that landscape has changed considerably. Now that companies have realized how valuable your attention is when it comes to showing you ads, social media networks have gotten to be even more competitive and more aggressive when it comes to trying to capture your attention. Then, once they have your attention, they go on to take aggressive measures to monetize it; everything from showing you ads, to collecting and re-selling data about you, to sneaking “sponsored” postings into your news feed. The bottom line is that it’s all about the social media network making money; you enjoying your experience on the network is a secondary priority at best.
Nuvo is a blockchain network that acts as the backbone of user-centric social media networks, which take back the social media experience for the user. Nuvo-based social media networks have two key differences from traditional networks…
- The first difference is that the input of the community’s user base decides what content shows up in users’ news feeds; not an advertising-based algorithm;
- The second difference is that users are rewarded for actions that they perform on the network. Whether they post original content, share content from other places, make comments, or cast votes, all users get paid Nuvo tokens for their participation.
Of course, this raises an obvious question… why would users get paid for using social media? The reason for this is simple; all forms of engagement contribute to the quality of the user experience. New content gives users things to enjoy, comments let users be part of the conversation, and votes dictate what content is good or bad. Since users are taking their valuable time to make valuable contributions to the network, our philosophy is to pay them for it.
Then, this raises another question… why do Nuvo tokens have any value? The economics surrounding what is known as the attention economy cause Nuvo tokens to have an inherent scarcity, and that scarcity is given value by the influence which a balance of Nuvo tokens provides. The more Nuvo a user has, the more influence that user has on Nuvo-based networks and the Nuvo blockchain – which translates to value on many levels.