With advent of social media platforms like Youtube, Facebook, Vine & Musical.ly, we often witness the chain propagation of content through users, commonly referred to as Viral Media Phenomenon that has proved to be of great entertainment value to the general public. The advent of blockchain and its subsequent adoption by large audiences has somewhat led to the process called tokenisation of digital assets that may include photos & videos. Trendit is a blockchain based platform that allows content creators to post videos and photos and earn cryptocurrency rewards based on their virality aspect. Think of Trendit simply as Vine that pays. The rewards earned by the users will be proportional to virality element of the content , i.e more viral the content is, higher the rewards. The platform will make use of the Ethereum network and native token known as Trend Tokens (TND) to power the transactions.
Trendit users will engage with the platform through three different ways;
Trends: Users can create new trends showcasing latest ideas which can be a photo or a video or simply a phrase. The platform will allow for engagement through a commenting section. The trend ideas can be anything ranging from a new business idea, a fashion statement etc.
Events: Individual users or organisations can raise awareness about certain events. The created events will be served to the target audience based on their location and preferrences. The tickets for the events can be distributed through the platform itself and the users can purchase by paying the purchase fee in ETH or Trend Tokens
Challenges: Users can create their own challenges challenging other users around the world to participate. The challenge card will have description of the required process presented by the creator. Some of these challenges may be competitive and it will involve rewards for the winning participant(s). Participation shall require an entrance fee to be paid in ETH or Trend Tokens, payment in the latter is incentivised. Participants will be required to complete the challenge & provide the proof of completion. At the end of the challenge, the entries will be subject to a public vote to choose the winner & subsequently the winners (1st, 2nd & 3rd) are paid their rewards.
For each of the above use cases, there will be associated Trendit Cards namely Trend cards, Event Cards and Challenge Cards that will showcase the respective information. The revenue management of the Trendit platform will be managed by a Decentralized Autonomous Organization (DAO) which will keep track of all the transactions and payments made by content creators, promoters and advertisers. The lifeline of the Trendit platform are the content creators and 50% of the platform profits are distributed among them. The DAO will take care of all the payment and will validate each and every creator’s eligibility & credibility while distribution of rewards. The team, in their roadmap, proposes to build a Web application first followed by the mobile applications.
Trend Token is an ERC-20 based token that will power the TrendIt platform transactions. Token & crowdsale specifics are given below;
