It has been estimated that over 2.5 billion people regularly use social media networks, including messengers. This estimation was done in 2018. Majority of the social platforms, such as
make their revenue from advertisements.
It may sound un-reasonable, but it is a fact that content creators on social media platforms, in most cases, do not receive any part of this revenue. There are however few exceptions via video-hosting partnership programs.
Ref: https://snax.one/
Snax Foundation wants to offer a solution which allows to measure the value of a public contents transparently and would like to reward it's creators without pushing them to change social media platforms and to change the established business models.
Snax is simply a decentralized blockchain-based system that has been designed to provide value for any social media interaction on any public social platform. Any user, what so ever, who has an account on
may be able to receive SNAX tokens as a reward for their content engagement.
Snax Blockchain Network also provides the function of digital social currency with
Refer to Source, Whitepaper: https://snax.one/whitepaper.pdf
According to Snax Whitepaper: https://snax.one/whitepaper.pdf social platform revenue is a result of contents published by its users. This content causes an interest from other users. This in turn ends up in this users spending more time on the platform.
Value which is created by content publication, let's say C on the online social platform, say P is proportioned
to people attention quantity and in general can be calculated as:
where;
It is important to know that the majority of public content in social media is created by 15% of the most active users. So, it is possible to estimate the yearly content value per one publisher as $150. Note that a significant part of the value is created by the social media platforms itself. The publishers are still seen to be the primary source of it. Howveer, the
more significant part of social media has yet to create solutions aimed to reward users for the creation of quality content.
This is the problem Snax Blockchain Network Platform is trying to solve. That is why SNAN utility tokens has been created. Snax Blockchain Network Platform is solving this problem as Overlay solutions for existing social platforms.
Snax is a solution to content value monetization. Snax offers a blockchain-based social media token, named SNAX based on the following principles:
