Imagine if every time someone liked or shared that funny status you put up you made a profit. Well that idea isn’t overly far fetched and is the very idea behind YOYOW. Short for “You Own Your Own Words” the idea behind YOYOW is to distribute the coin amongst content creators across various social media platforms to reward the creators of popular content. This could be anything from an impressive photo or video to something as a simple as sharing a top notch joke.
Still in it’s infancy, YOYOW has been slowly gaining notoriety over the past few months and is set to be huge if the team behind it can truly execute the idea.
A New Dawn For How We Valuate Content
Currently sitting at $.2US after a monthly peak of $.57 it could be quite some time before reaching it’s true value. Now is arguably the best time to get in for long term investment with the number of tokens in circulation well under max supply. A major issue facing the platform currently is a massive lack of public awareness, which like many other fledgling ideas in the space. A main factor for this is average PR from the team and a lack of real word application in this stage of the game.
But How Does This Actually Work?
Ok, so let’s have a deeper look into how YOYOW is supposed to work and how it could change everything in the online social space. YOYOW plans to utilise the the POT algorithm (Proof of Taste) to reward content creators, spreaders of said content and the third party platforms that host the content. Theoretically this will allow for the unbiased financial rewarding of content creators and their most prolific sharers. The beauty behind YOYOW is the users will be the ones reaping the benefits for creating unique content and the users will be responsible for deciding which content is worth rewarding. This kind of user driven process could massively change the game and push the quality of content on certain platforms up exponentially. We were for one are very excited to see where all of this will take us and are keeping a keen eye of the dollar value as well.
If you are still new to the crypto game and are wanting to get started, why not have a look around the site. Here is a great article to get you started.