ZoneBitcoin EditorialSince the purchase of Twitter by Elon Musk or the announcement of metaverse of Facebook, social networks continue to be questioned on many aspects. When some criticize the lack of transparency, others protest at the censorship that reigns there. It seems that traditional social networks have reached a certain limit, which is all the more visible as the Web3 emerges.
The change in paradigm and business model seems more imminent than ever for many applications, particularly those of social networks. Today, in fact, decentralized social networks are on the rise, of greater interest to content creators, users and businesses.
A new decentralized social network wants to mark this turning point: the application PunchWord which wants 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 wants to facilitate the monetization process for content creators and simplify exchanges with companies. Built on the blockchain Fantom, a choice justified by the speed and low cost of transactions, PunchWord also has its own PUNCH token.
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.
The founder, Mohamed Skander, with a career in traditional finance (Ernest & Young, BNP Paribas), is trying 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 intends to expand in the Middle East, Africa and internationally. While the monetization of traditional platforms is limited to industrialized countries, PunchWord has a great chance of attracting users from all over the world, to the extent that cryptocurrencies have no geographical boundaries as to their uses.
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 and write quotes on them. This explains the name of the platform. As on a traditional social network, publications can be shared and commented on by users. The special thing here is that publications can be sold in the form of NFTs. The platform has in fact planned a NFT marketplace for people who wish to acquire specific publications.
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 monetization. The model is interesting because even content creators with fewer subscribers can make money on the platform. Content creators can produce publications in partnership with companies. It is also possible that companies directly purchase publications from content creators.
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 exchange platform on January 31 Bitmart. This is the first listing of the token and the token will be available on other exchanges soon.
- It is possible to buy the PUNCH token on the PUNCH/USDT trading pair.
- Deposits can be made from January 29 at 10:00 AM (UTC)
- Trading begins on January 31, 2023 at 10:00 AM (UTC)
Note: This is not investment advice. Always do your own research before investing. All investments are considered at risk.
