The Ugly Truth About Social Media Industry
By Janice Chrysilla Surja | Social media naturally gets more vibrant when there are more users contributing a larger variety of content, creating sustained growth in the social media industry that does not seem destined to deteriorate in the near future. However, here is the ugly truth about the social media industry today: most users do not get the rewards they deserve for generating content. To social media platforms, user-generated content is a free source of revenue that multiplies at a rapid pace. Looking at it from this angle, brands seem to benefit from the free marketing provided by user-generated content at the expense of the users. This is exactly the problem that PINC is trying to solve.
PINC is a social ecosystem built on blockchain technology that allows users to create content and earn cash or tokens from it. This seeks to correct the imbalance where users typically do not get rewarded for generating social media content. This reward system hopefully will incentivize users to continue engaging themselves and others at PINC, thus yielding enough facts and figures for brands to gain insights about their consumers.
In a nutshell, this transparent platform seeks to make sure that everyone – creators, shoppers, brands and analysts – can benefit from one another’s activities in the platform and that no one is at a disadvantage.
PINC rewards users by assigning points for their activities in the platform, such as liking a post, commenting and uploading content. As the points system is blockchain based, they can be converted into cash or traded on markets as tokens.
PINC is in the midst of preparing to launch its ICO of tokens based on the Ethereum ERC20 standard. These tokens can be bought on the platform, earned from directly interacting within the platform, or acquired from the referral program, giveaways and gifts from other users.
PINC understands that the legitimacy of its tokens is also contingent upon its team members. CEO Sabrina Wang is an avid entrepreneur with a background in fashion, media and technology. With years of experience dabbling in several businesses, she has gained a natural acumen for business and a foothold in the e-commerce world.
Other members of the leadership team include COO Francis Sim, CCO Edmund Lee, CFO Grace Tang and Head of UX Xael Tan. The advisory team comprises of Advisory Board Member Kent Teo, Cryptocurrency Advisor Peter Sin and Business Advisor Haryanto Soemito.