Web3 could be said to be a threat to the centralized internet. This iteration of the popular World Wide Web has many times been referred to as the future of the internet. This web version hosts decentralized apps built on blockchain tech. Social media applications built on the previous web versions are starting to have decentralized counterparts to contend with, bringing TikTok to the scene.
Short video clips or Micro-videos are the new in-thing. We can find these videos on Instagram Reels, snaps on Snapchat, TikTok, Vines, and even vskit, to mention a few. These video styles have gained popularity and traction in recent times and are most likely to birth the next gen of social media.
Going back to 2012, we had Coub. Coub might pass as a pioneer of the Micro-video style (videos on this platform are called coubs) of social media feed, before the likes of TikTok.
After its 10th anniversary celebration, the social network made a major break by stepping into the decentralized scene of Web3 with a mind-blowing initiative of monetizing.
Structured into its transition plan, is the “watch-to-earn” — which brings content creators and content viewers into the earning picture. To create newer opportunities for both parties. The social network also intends to have an NFT marketplace built into its structure.
Based on its monthly statistics as of July 2022, the Coub social network has more than 11 million users per month. And a teeming population of over 105 million active participants per year. Although this cannot be compared to the likes of TikTok, which has about an 80million monthly active users in the United States alone, Coub still plans to build on these numbers which it refers to as a “Strong Foundation”, while empowering its dedicated growing community.
Coub.com intends to expand more on the watch-to-earn concept and peer-to-peer interactions provided by the social network. It promises to empower its community by providing them with the means to control and influence the content structure and reward distribution within the ecosystem.
One might be wondering how it works.
Coub users can all take part in “watch-to-earn” by default. Users can amass rewards from interaction with the ecosystem. Interactions like viewing, liking, commenting, and reposting. Content creators creating micro-videos would also be rewarded for the engagements and interactions on their coubs.
Users can increase their earning rate by watching more, the more coubs you interact with the more your rewards. Daily challenges and treasure hunts are extras that help keep the ecosystem busy and alive.
Coub is already in its active beta testing stage. The project’s infrastructure was critically analyzed by a leading Security audit firm, which wasn’t disclosed. Coub says it’ll be ready to handle the number of new users waiting to catch the watch-to-earn fever