Vybe, LLC introduced at present that they’re constructing an app that lets individuals mine their social media for cryptocurrency.
“What if you earned crypto for every like you earned on social media?” Vybe Business Development Manager Blake Marum mentioned, “That’s what Vybe does. It connects your content creator sites to a cryptocurrency wallet and automatically deposits VYBE into your wallet for every like you get on social media.”
VYBE is a token, or Algorand Standard Asset (ASA), on the Algorand blockchain. It operates like Algo, and has been verified by Algorand’s official pockets, Pera.
“The app disperses 222,603 VYBE every six hours for 20 years,” Vybe Lead Developer, Ravi Dhar, defined, “It calculates the total number of likes, posts, followers and other metrics that each user gets in six hours and awards them a proportion of this mining pool. So it measures content quality. The more likes you get from the world, the more VYBE you get from the app. Users are miners who get paid to post.”
Once downloaded, the app runs within the background and routinely deposits VYBE in your Algorand pockets. “It’s like a bank account,” Marum mentioned, “or a slot machine,” he laughed. “Ching, ching, ching… You don’t have to do anything else. The app quantifies and rewards content quality. If you’re posting anyway, why not get paid for it?”
So how a lot are VYBE price?
“Nothing,” Vybe Project Manager Armaan Kapoor mentioned, frankly, “right now they’re worth absolutely almost nothing. Almost zero. But the plan is to change that.” Kapoor, nevertheless, mentioned that they’re constructing high quality merchandise with actual use circumstances which have worth over time, and he defined why he and his crew suppose this code creates substantive worth,
“Instagram made over $20 billion dollars in ad revenue last year. How much of that did they generate from their own content? Hardly anything. Their users made their content for them. You did. And how much did they pay you for this content? Nothing. You produced their content, and they paid you in heart emojis.” Kapoor added, “Your content has value. That’s why over half the world’s population uses social media and spends an average of three hours a day on it. That’s why people follow you, and that’s why Twitter is worth $44 billion dollars. Vybe tokenizes likes. This isn’t possible with credit cards and centralized systems. It is with blockchains and cryptocurrency. This makes it possible for creators to extract these likes, and some of this value, off your social media sites and put it in an Algorand wallet, where you can convert it to other assets.”
Kapoor added that Vybe additionally makes it as simple as potential for anybody to mine cryptocurrency. Instead of utilizing costly processors that devour a lot of electrical energy to unravel arbitrary math issues which are discarded as soon as solved, like BTC, Vybe makes use of likes. “This is our mining mechanism,” Kapoor mentioned, “this is how we distribute VYBE to the world.” Vybe can also be constructing a geolocation gaming app so as to add further worth to the Vybe ecosystem over time.
Vybe launched their Early Adopter program on 20 May. It runs till 1 August, after they plan to launch the mining app. You can be taught extra about it on their webpage, and pre-register to be an Early Adopter. “We’re in this,” Marum mentioned, “to build useful apps and have fun.”