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The Snapparazzi media sharing and advertising platform has announced a release of its minimum vital product (MVP) of a blockchain-based platform. The app is intended to allow everyone with a smartphone "to become a reporter" or a content creator. The user takes movies or a photo of important events on their smartphone and shares them using the platform. Interested buyers – TV, newspapers, radio, etc. – pay for the fiat currency content. In turn, the user will be paid in SnapCoin, the platform token for their contribution. The platform also caters to content creators and states that they can be paid substantially more with Snapparazzi than YouTube to create or watch content.
How the application works
According to the company, the platform is dedicated to solving the conventional problem the media are facing – incomplete media coverage: many media companies do not have enough journalists to send to the scene, and it's also expensive. The Snapparazzi say they are ready to bridge the gap by encouraging users to capture the filming of an interesting social, political or entertainment event and get paid to share them. This means that every person with a smartphone can be a "unique and unrivaled source" for exclusive content. Furthermore, the number of potential sources increases each year. According to Statista analytics, there will be over five billion mobile phone users in the world by 2019.
Snapparazzi promises an innovative auction system that allows users to sell their latest news footage using blockchain technology and guarantees a fair return of 80 percent of the sale price, ensuring that they will get a good deal. It allows them to choose the best price and sell their contents to the highest bidder. The company says another way to share advertising revenue and for users to earn SnapCoin is rewarded for viewing targeted advertisements. They are optional for viewing, so users decide whenever they want these ads to be included in their video. For those wishing to be a more advanced user within Snapparazzi, there is the opportunity to become a moderator. This work requires that other users view the most relevant content. The effectiveness and performance of moderators are judged by the other members before they are rewarded accordingly with SnapCoin.
Snapparazzi ensures that everyone using the platform will be able to make money. According to the company's revenue sharing model, 60 percent of advertising revenue will be the author of the content, and 80 percent of the amount paid by the buyer will go to the reporter, the 2 percent of the revenue will be received by the moderator and 20 percent of advertising revenue will be the audience's share.
The integration of the blockchain
SnapCoin, used for payments on Snapparazzi, is a token based on Ethereum. Smart Contract saves all offers on the blockchain. The buyer and seller use this Smart Contract once they agree on the price of the content. It allows the payment of the content to be transferred instantly and automatically and will protect the copyright for those who choose to keep it, says Snapparazzi. All transactions that occur on the platform are stored as an immutable ledger, which makes them tamper-proof and protects against cybersecurity threats thanks to the blockchain.
Plans for the Future
The company is launching a pre-ICO on Sept 14, along with the release of MVP. A private sale helped Snapparazzi to raise $ 5 million. The company believes that their strong community within social networks has had an impact on the success of their initial sales – with 85K followers of Snapparazzi on Telegram, 23K on Twitter, 16K on Instagram, 2260 "Karma Points" on Reddit, etc. [19659004] The Snapparazzi team says there are some big steps planned for November 2018. There will be the start of beta testing for the app and the release of SnapCoin in exchanges. At the end of the year, in December, the Snapparazzi app will be distributed on the App Store and Google Play. Next year, the company hopes to open offices on three continents, including North America, Asia and Europe, and will present the beta version of a live broadcast function.
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