Social media continues to play a significant role in the daily life of many people, and it is an industry that is still growing. It covers many elements including people’s interests in commerce, politics, education and lifestyle choices.
Social Media Information
On social media platforms, information is provided about many aspects of people’s private lives, including their families, friends, and close personal relationships. The social environment that exists online has become more complex and sophisticated, with the entities looking to tie users to their platforms. This has not only been done to broaden the enjoyment of the user experience but to improve the saleability of the access to potential clients and their data to businesses.
A new alternative blockchain based social media platform is being developed. Merculet is intended to offer an alternative to the current social media environments. It will transform the relationship between users and advertisers.
The social media constructs that support for the online experience, particularly powerful tools for communication between individuals and groups across the world. As this system has become more sophisticated in attracting people to the platforms and then creating an ecosystem where they communicate with their network, people have become more reliant on the online environment in daily life. However, it does not mean that users will stay in an environment that they feel is out of date, as has been shown with shifts in the market away from Twitter and Snapchat.
Blockchains, data, and social media
The introduction of blockchains has already started a new way of thinking about social media and has started the overhaul of the social media industry. Merculet can increase the security of personal data and to bring with it improved reliability and opportunities for earning. It is intended that while the user is on Merculet, they will able to remain in control of their data.
Currently, many users are unaware of how their information is being exploited. The social media platform is making very large amounts of money from personal information, and none of this revenue is being passed on to the users. The concept behind Merculet is to ensure that users will receive remuneration from advertisers for the details about their interests and activity online. It is a new way of thinking about providing valuable information and feedback to advertisers.
The level of control enjoyed by the owners of the centralized social media platform not only allows for the potential exposure and exploitation of users, but it also excludes them from any potential benefits they could enjoy from the use of their data. Merculet will offer an ecosystem where the user will be protected from exploitation, and they will receive financial compensation for the information provided about their online activity, interests, and preferences.
Merculet has been created to ensure that users of social media will be able to enjoy some benefits for their time spent online. Each view of an online advertisement or product video, each push of a like button, share or comment will provide information about the amount of attention a user is showing to a business’s advertising campaign. Merculet will also give the user the chance to enjoy recognition from the organizations whose content they are viewing.
It will create a separate social media platform with its currency. Businesses will be able to purchase virtual currency from the platform, which they invest in marketing on the platform. Merculet intends to increase user retention and engagement for organizations through a reward system. The first element of Merculet platform is the user attention value. UAV will be manipulated to calculate the time; a user spends for the content of an organization.
The other component is the Attention Incentive System. This will allow businesses to allocate User Attention Tokens (UATs) if criteria are met. The evaluation of the value of the attention given to content by users in effect comes with a bonus system, where the user can receive a reward of the UATs. How much they receive will also be influenced by the organization whose content they are viewing. The businesses benefit from receiving direct feedback about how much attention their promotional strategy is receiving. Some of the types of actions the user will be performing will be watching advertisements or accessing video content.
One of the key attractions of this concept is that by using Merculet’s platform, users will have the opportunity to gain benefits without altering their online behaviour. The project is in a very early phase, and currently, it is unclear how Merculet intends to attract users and have its tokens broadly accepted which makes it difficult to assess the potential for this ICO in the longer term.
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