The social media industry is constantly innovating – it has fundamentally changed how people interact with each other. With tipping mechanisms, to virtual concerts, to PFP NFT integrations, there exists a whole new world out there. Metaverse is the word of the year as we progress towards an exciting future, where we won’t have to worry about any ‘new version’ of the virus—exchanging sentiments freely without any isolation.
There needs to be a medium in which we can exchange virtual goods etc, and that’s where the concept of using virtual currency kicks in. As of now, there seems to be only a handful of startups working on monetising the social media space, and GISTCOIN is leaps ahead in this category. It is the official token for social media communities.
The goal of Gistcoin is to enable creators to unlock an economy around their community and to tap into new methods of monetisation that work across multiple platforms. Not only does it create an engaged community who can tip with Gist Coin and spend GistCoin to get exclusive access to content, special access, events, and merch, but it enables creators to monetise their content in whatever way pleases them.
Gistcoin allows Content Creators to build a loyal fanbase and get rewarded for creating value for members of their user community.
GistCoin also allows fans and followers to be a direct part of the social media community by owning a piece of the social economy and allowing them to grow together with their favourite creators. By having, holding, tipping, and transacting with the utility coins, fans show their loyalty and support to creators and get exclusive access and premium benefits the creator offers. GistCoin use is also not limited to followers to creators. Platform Users can also interact, engage, and reward one another with user-to-user or follower-to-follower transactions.
ADVANTAGES OF GISTCOIN TO THE SOCIAL MEDIA COMMUNITY
1. Create an advanced Audio-based Social Media Platform with an inbuilt Creators and Users Compensation program and which address most of the problems associated with existing Audio-based social media platforms in the rapidly exploding Audio Conversation industry.
2. Provide A Peer-to-Peer monetization Platform that provides direct micro-payments to content creators and premium users on GistHouse and other Social Media Platforms.
3. Enable Fair Compensation for content creators and active users of GistHouse and other Social Media Platforms across the globe.
4. Provide Universal means of exchange for users of GistHouse and social media partners.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No THE 2 SIDE STORY journalist was involved in the writing and production of this article.