Washington, DC – What if you earned cryptocurrency for every like you earn on social media? That’s the concept behind a new app called Vybe.
“Vybe connects your content creator sites to a cryptocurrency wallet and automatically deposits VYBE into your wallet for every like you get on them,” Vybe Business Development Manager Blake Marum explained,
“Instagram, Reddit, Twitter… it tokenizes likes and, by doing so, lets you move them around and convert them to other assets if you want. They’re not stuck on your sites as hearts and emojis.”
Vybe operates on the Algorand blockchain. It’s an Algorand Standard Asset (ASA) that has been verified by Algorand’s Pera wallet. As such, VYBE works the same as Algo, transactions take seconds and cost .001 Algo – less than a penny.
“Over half the world’s population use social media, and they spend an average of three hours a day on it. Instagram alone, for example, generates 4.2 billion likes a day,” Vybe Program Manager Armaan Kapoor said, “but what can you do with these likes? Not much. Instagram made over $20 billion dollars last year. From what? Your content. And how much did they pay you for that? You want to say nothing but that’s not actually true. They paid you in heart emojis. Vybe quantifies content quality, then tokenizes it in your Algorand wallet. We think there’s real value in that, because your content is valuable, otherwise, people wouldn’t spend so much time on social media and Twitter wouldn’t be worth 44 billion dollars.”
The Vybe app distributes 222,603 VYBE every six hours. Once installed, it runs in the background and deposits VYBE in your wallet depending on how many likes, posts, retweets, and other metrics you get compared to everyone else who is using the app and mining. The more likes you get, the more VYBE you get. The app uses an algorithm to calculate this.
“We’re trying to make it as easy as possible for people to mine cryptocurrency,” Vybe Developer Santiago Aguirre said, “to mine bitcoin, for example, you have to have expensive processors and use a lot of electricity. You solve arbitrary math problems that are discarded once solved. To mine VYBE, you just post like usual on your sites.” Aguirre is a percussionist and coder based in Manizales, Colombia. The other eight team members are in the United States and India.
On 20 May, Vybe launched an Early Adopter program. They will release the app on 1 August. People can begin mining and earning VYBE then.
“Instead of the content creator sites mining you,” Kapoor added, “Vybe lets you mine them. Let’s see how it goes. But we’re having fun building this platform and community.” You can learn more about the Vybe app on their webpage, and pre-register to be an Early Adopter. You can also follow them on Instagram, Twitter, Reddit, and their other social media sites. You can read their whitepaper and learn more about their team on Medium.
Disclosure: This is a sponsored article. Please do your research before buying any cryptocurrency or investing in any service.