MySocialVerse integrates Blockchain Technology and
London, UK, Oct. 27, 2022 (GLOBE NEWSWIRE) — The necessity to reward and empower social media platform users while also providing security and control of personal data, MySocialVerse has developed as an advanced product combining the concept of social media with the blockchain to create a decentralized platform that provides users with autonomy and reinstates self-control / self-ownership of their content and data.
The platform offers different utilities to users, corporate entities, and blockchain developers, which include:
1. Passive income being provided to platform users,
2. Users maintain control of their data through decentralized means,
3. Revenue generation for developers and uplifting product sales of advertisers.
The MySocialVerse platform strives to develop features that allow users to monetize their social media activity. Given the decentralized nature of the platform, users will have full ownership and control over their identities, data, and other intellectual property. As such, users can tailor the content they receive via the platform to align with their specific passions and interests. Users can select the advertisers they wish to share their data with for commercial purposes. They will subsequently receive payment from the advertisers directly for doing so in the form of MySocialVerse’s native token.
The advertisers receive mutual advantages, as the users engaging with their content will closely align with their target audience, thereby enhancing the possibility of increased sales generation. The platform ultimately provides an opportunity for users to obtain tradable tokens by simply browsing, sharing, and creating content with MySocialVerse.
In addition, the platform facilitates traders with opportunities for developers to monetize their work. Developers can conceptualize, design, develop and seamlessly deploy various digital applications, games, and spaces on MySocialVerse.
Furthermore, MySocialVerse’s native token is denoted as ‘MSV,’ which will subsequently be distributed to users, contributors, and developers. The MSV tokens will be tradable on major decentralized and centralized exchanges, providing direct liquidity routes into other cryptocurrencies or fiat currencies. To ensure that an anti-inflationary/deflationary nature is maintained, a portion of the tokens generated in every transaction on the network will be burnt, permanently removing the tokens from circulation.
In terms of Tokenomics, the transaction fees charged on trade or transfer of MSV tokens will be 5%, with 1% being used to finance marketing efforts and 1% being directed to the liquidity pool, and 3% BUSD rewards. Consequently, MySocialVerse reinstates the control that all users can possess over their data while allowing any associated revenue generation to be retained by its rightful owner, the user.
The newly established crypto platform combines blockchain technology with social media concepts. It creates a symbiotic relationship between the user and advertisers through the company’s cyclical model, whereby both can receive financial advantages through the use of the platform features.
As well as the monetary features, the platform further provides the User Interface, security standards, and promotion of a friendly user environment, which are all necessities for social media platforms.
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