What is Narrative Network?
When users participate in conventional social networks, they are confronted with various limitations, such as arbitrary content policies and rules. Besides, for any content that users create within the given framework of content regulation, owners of the social network earn billions of dollars off of the backs of their users. The producers and consumers of content on traditional social networks do all of the work and realize none of the income. Narrative flips the script by putting its members in control who are duly rewarded for their contributions.
Narrative (NRV) is a social network that allows users and brands to tell their stories. It’s like a mashup between Medium, Instagram and Twitter, but with more focused subject-matter. Each post has a title and can contain text and/or photos. As a Content Economy, Narrative generates rewards for content creators, moderators, and others who positively contribute to the quality of content on the network. It is autonomous, transparent, and completely user-centric. Reputation scores and content ratings ensure that “bad eggs” have minimal impact and that quality users and content rise to the top (and are rewarded the most). The economic motive for Narrative is to reward all users who add value to the network.
There are three types of content channels on Narrative: Personal Journals, Niches (subject-based collections), and Brands.
Users can follow specific Narrative channels and view a stream of all content they track. All content is public, curated and managed by elected moderators. 85% of all revenues generated by the network flow directly to the active participants (e.g., content creators, active participants, moderators, and other positive influencers).
All revenue for the network is logged and managed using blockchain technology to ensure immutability and transparency, but the network itself may include off-chain functions to ensure outstanding performance and powerful search capabilities. Revenue sources include niche and brand channel ownership fees, advertising and issuance of NRV tokens.
Narrative's revenue distribution is as follows:
Content Creators(60%) – Those who post content on the network
Narrative Organization(15%) – The Narrative team
Niche Owners(10%) – Owner of a niche which is authorized by users with positive reputation. Niche is a subject-oriented channel that any user can post to
Activity Rewards(8%) – Users earn activity points for various activities, including commenting, voting for nominated niches, voting in tribunal elections, up-voting/down-voting content, etc.
Niche Moderators(6%) – Every authorized niche has an owner and at least one moderator, who earns reward for content posted to the niche
Tribunal(1%) – Tribunal is the ‘Supreme court' of narrative. Tribunal members are elected by the community, have steep qualification requirements, and serve time-limited terms. The role of the Tribunal is to be the final arbiter of disputes, and the Tribunal has powers for taking action when necessary.
Any person that contributes 10 ETH or more in the Narrative Token Sale will be classified as a “Founder” when they register on the network using the same email account they used for the Token Sale. Founders receive niche ownership advantage by being allowed to exclusively purchase niches during the first 48 hours of the network's launch, receive a 10% bonus on their activity points and exclusive access to the Narrative team via a dedicated Slack channel at the end of token sale.
Autonomy of creators, transparency of network, ownership of content, economic benefit to content creators and no crypto barriers are the central tenets Narrative is founded upon. As cryptocurrency is still in its infancy, the network cannot thrive and compete with other networks if it requires its users to use only cryptocurrency. Therefore, advertisers will have the option to pay with fiat currency(US Dollar only) and network rewards can also be received in fiat currency.
- Ted O'Neill – Founder
- Brian Lenz – CTO
- Rosemary O'Neill – Marketing officer
- Michael Farris – Community development and management
- Platform – Ethereum(ERC20)
- Presale – December 7, 2017 to January 6, 2018
- Crowdsale – January 16, 2018 to February 15, 2018
- Hard cap – 50,000,000 NRV
- Price per token – $0.62
Narrative is not the first to propose a decentralized social network but it does have one of the best proposals and a solid team to boot, with prior exposure in the field. What I don't like about the project is that it promotes use of fiat currency, citing that cryptocurrency is not fully integrated into the economy. If you're going to sell a blockchain project and cry off and fail to encourage use of cryptocurrency. Die-hard crypto crusaders may deem that a good enough reason to give it a miss.
ICO Rating – 3/5