Home PunchWord ($PUNCH): The Social Network that gives power back to creators

PunchWord ($PUNCH): The Social Network that gives power back to creators

Cryptos

4 min read

Since Elon Musk's acquisition of Twitter and the announcement of Facebook's metaverse , social networks have been constantly challenged on numerous fronts. While some criticize the lack of transparency, others denounce the censorship that prevails. It would seem that traditional social networks have reached a certain limit, which is becoming increasingly apparent as Web 3 emerges.

The paradigm shift and business model change seem more imminent than ever for many applications, particularly social networks. Today, decentralized social networks are booming, attracting increasing interest from content creators, users, and businesses.

A new decentralized social network wants to mark this turning point: the PunchWord application , which aims to put content creators back at the heart of the application.

What is PunchWord?

To best explain PunchWord, you have to imagine a version of Instagram and Twitter. Thus, users can post photos accompanying them with a quote of their choice. Just like on other social networks, users can interact with the published content.

The Swiss-based company aims to facilitate the monetization process for content creators and simplify transactions with businesses. Built on the Fantom blockchain , a choice justified by the speed and low cost of transactions, PunchWord also has its own token, PUNCH.

The PUNCH utility token is then used to reward content creators, influencers and users. Likewise, token holders will also be able to participate in decisions on the evolution of the application through the DAO set up.

Founder Mohamed Skander , with a background in traditional finance (Ernest & Young, BNP Paribas), is attempting to create, with PunchWord, a social network that aims to be inclusive and accessible to all. The company is initially targeting a European audience but plans to expand into the Middle East, Africa, and internationally. While monetization of traditional platforms is limited to industrialized countries, PunchWord has a strong chance of attracting users worldwide, given that cryptocurrencies have no geographical boundaries in their use.

Discover PunchWord

How does Punchword work?

There are different features that make punchWord interesting for all parties: content creators, businesses who want to gain visibility, and people looking to entertain themselves with content.

Content creators can post photos with captions attached. This explains the platform's name. Like on a traditional social network, posts can be shared and commented on by users. The unique feature here is that posts can be sold as NFTs (Network Transaction Files). The platform has indeed created an NFT marketplace for those who wish to purchase specific posts.

The addition of the functionality of publications in NFT format is certainly there, a simple way to own the rights to a publication, while remunerating the author who is at the origin.

Thus, if a company wishes to own the publication made by a content creator, it can then directly purchase it via the PUNCH token. A company looking to create a marketing campaign can also solicit users to create relevant content. We can hope that unlike traditional platforms where the number of views matters more, here, it will be the quality that will be highlighted.

All content creators can benefit from PunchWord's monetization. The model is attractive because even content creators with fewer followers can earn money on the platform. Content creators can create posts in partnership with companies. It's also possible for companies to purchase content creators' posts directly.

What are the tokenmetrics of the PUNCH token?

PunchWord has its own token which is used throughout the project's ecosystem. Token owners will also be able to participate in important decisions thanks to the DAO. Likewise, it is expected that holders will be able to benefit from staking the token in order to generate additional income.

The total amount of PUNCH token is set at 5 billion tokens with the following allocation:

5% is intended for project advisors
5% for airdrops, giveaways and partnerships
20% will be allocated to staking the token
15% is intended for founding members
55% is intended for the user community as a whole

Where to buy the PUNCH token?

The token will be listed on the BitMart exchange platform starting January 31st . This is the token's first listing, and it will be available on other exchange platforms soon.