Spintura, Inc., a new and innovative photo sharing app company plans to shake up the photo sharing space by rewarding users with SPINS, tokens from their soon to be created crypto economy, for doing what users are already doing every day on other photo sharing platforms. The young and scrappy startup has recently filed for patent protection for multiple new photo sharing tools that are designed to make photo sharing easier and more fun. To complete the new user driven ecosystem, Spintura plans to create an internal marketplace where users, content creators, and name brands can all negotiate promotional posts on the feeds of influencers, which are users with a large number of followers.
An influencer that wants to offer their feed for promotional services can choose a set price or auction model in order to allow access to their owned content. This new marketplace will replace both third-party influencer market companies like whaler and Grapevine, as well as the current ill-defined negotiation process that often occurs between a name brand and an influencer. Spintura will also provide a set of analytical tools inside this marketplace that will provide to the process a set of metrics from which to properly price the transaction.
All these activities will use SPINS, Spintura’s crypto coin. Posting, commenting, and especially receiving likes will all receive SPINS, the flow of which will be determined by an internal algorithm and a set of rules, which will also be set up to prevent abuse. The user rewards will be initially drawn from a pre-defined block of tokens that will be distributed as the app reaches a critical mass. At this point the app will redirect a certain percentage of marketplace transactions fees, which will be charged to each transaction, along with tokens that Spintura receives for specific goods and services and give these tokens back to users for their photo sharing activities. This will create a user empowered community of creators focused on creating compelling content while benefiting from the creation of this content.
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The Beta version is expected to be released sometime around mid-2019 and is expected to present a new and better alternative to the existing model of the app company exploiting user content for their own financial benefit. Early access to the new platform is available at spintura.com