Dopameme – DMT ICO Incentivized Meme Content Rewards Blockchain?
Dopameme aims at centralizing and monetizing the meme creation space all over the internet. It’s a decentralized platform project that uses smart contracts running on the Ethereum Network aiming to monetize memes, by unifying a community of creators, curators, and viewers.
Dopameme will provide economic incentives for creating and sharing original content as well as participating in the platform.
What Is Dopameme?
A big issue around memes is that most of the time no one actually knows who created a viral meme. By using blockchain technology and smart contracts, content creators inside the community can upload them, have them registered inside the blockchain and generate tokens they can use and eventually cash out.
To put it simply, meme creators get paid to make viral memes, and all meme content has real, physical worth in terms of actual money.
Dopameme – Detailed Explaination
Dopameme offers two ERC20 compliant tokens, namely DMT (Dopameme token) and MTT (Money Tip Token). The DMT is a form of asset/share token, whereas the MTT is the meme monetization token.
What this means is having DMT is like owning Dopameme’s shares, whereas MTT will be what the meme contributors. Both DMT and MTT will be available in a finite number and can be exchanged for Ethereum and thus to any fiat currency further down the lane.
Here’s a simplified explanation of the Dopameme mechanism-
- Users buy DMT at and after the ICO, This token will have a specific value based on the number of Ethereum (ETH) the platform receives during the ICO Crowd Sale and will be available for trade afterwards.
- When the platform is functional, contributors start uploading their content which can be accessed via the dopameme feed.
- Everytime someone upvotes (or “cool”s) a post, the contributor earns a certain amount of MTT. Similarly, when someone downvotes (or “punch”es) a post, the contributor loses some MTT.
- The MTT can be cashed out as Ethereum, and then further into any fiat currency of choice.
Dopameme ICO statistics
- Maximum token supply: 100,000,000 DMT
- Crowdsale cap (minimum): $2.5 M USD
- Crowdsale cap (maximum): $15 M USD
- Minimum contribution: 0.02 ETH Aprox.
- Allocation: 1 ETH = 2,000 DMT
Dopameme – Timeline
- Public Launch: 22 September 2017
- Token Pre-Sale Starts: 21 November 2017
- Token Sale Ends: 5 January 2018
- Dopameme Beta: 1 February 2018
- Development and Operations – 50%
- Marketing – 25%
- Administration – 8%
- Partnerships and Security – 7%
- Contingency Back up for emergencies – 5%
- Legal – 5%
Dopameme, as a concept, is bold and refreshing. The allure of being able to make money off of their original content is going to make memers flock to this platform initially. The risk with Dopameme lies with acceptance of the general public and their seamless integration with the existing social media like Facebook and Twitter. At the core, the only thing which separates Dopameme to similar content platforms like 9gag is the fact that original content will earn its creator money.
It’s not yet the time to affirm with certainty whether Dopameme will be the next 9gag, but even with similar platforms like Steemit already battling for market share, it shows quite a bit of promise.