If you’ve been watching the news recently, you would have seen Facebook’s CEO answering questions regarding selling users data to businesses for use in AD targeting. That’s how they earn money and became a revenue machine.
Since Eventum’s core concept requires data feeds sourced from crowds, essentially it is your data that will be used on the platform. But is Eventum’s business model similar to Facebook’s in the sense that your data is profited from without you as a user receiving any compensation?
The answer is both yes and no. Yes, as users would be rewarded with the data they provide in the form of EVT tokens as long as they fall within the consensus of the event. No, in the sense that if they do not fall within the consensus, no EVT tokens would be paid to that user.
Users contribute data in all forms based on the events and this is monetized by providing a real world truth data feed for general users of the platform, and are rewarded with EVT tokens. To understand better how this is done, the Eventum Alpha hosts events that you can participate in to earn EVT tokens and ETH.
A typical example is Content Moderation events. Users would be monitoring content in real time and determining whether it is appropriate or not. For this type of event, the data a user is essentially selling on the Evetum platform is one of appropriateness. In determining if content is relevant, suitable for age groups, racist, etc. And the users are rewarded with EVT tokens. Both are rewarded and not one party benefits as in Facebook’s model.
Another example is Sports Data events. Users either agree on referee decisions, point statistics etc through the consensus model and are rewarded with EVT tokens for their opinion/ decision. Again, both Eventum and users are rewarded so neither one party benefits as in Facebook’s case.
A third example is Fake News events. Users on various platforms are constantly providing each other with more details than established news channels about world events and news. Some users even give more details are deliver faster updates than news channels. But those users were never rewarded! Never compensated for their contribution. Not, with the Eventum platform, they will be rewarded with EVT tokens for spotting fake news and becoming part of the consensus!
On the developer side, they can sell their data to other developers or freelancers for EVT tokens after an event is finished. User’s who were part of the consensus would not be rewarded this time as they’ve already traded their data for EVT tokens while participating in the events.
However, to mitigate any misunderstandings, Eventum may have a clause when signing up for events that state that “developers are allowed to sell the consensus data after an event is finished as the data is now theirs, since they would have paid for it through EVT tokens which were rewarded to users who were part of the consensus.
Again. Both parties are rewarded. Developers get the data they’re after and can also earn EVT tokens from selling their newly acquired data, and users are rewarded for providing the data!
It’s time to take back what is rightfully ours, “OUR DATA”.
It’s time we monetize what is rightfully ours, “OUR DATA”.
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As always, DYOR and feel free to join the Telegram Channel where the Eventum team posts updates and answers all of your questions. They love it when you ask questions about the project.
I’d advise you to first read their lightpaper, then their whitepaper, and ask the members in the Telegram group to clarify any issues or uncertainties.
And don’t forget. Join the Eventum Alpha for free and experience how the platform is designed to work.
P.S. If you join the Eventum Alpha MVP, you can win a share of the remaining 6,390,000 EVTs and/ or 51ETH.
