Peerity aims to democratize the world of social networking by rewarding users for contributing to social media. Find out how it works today in our review.
What Is Peerity?
Peerity, found online at Peerity.io, is a social networking website with self-directed communities, commerce, and connections. The platform aims to “redefine social media and your social life with a distributed, democratic social platform that rewards users for their posts, shares and participation.”
Obviously, we’ve seen similar models work in the cryptocurrency community. Steemit, for example, is like Reddit, but where people get paid in tokens for their work. Peerity, on the other hand, will have a more traditional social media interface – similar to Facebook or Twitter.
The Peerity crowdsale begins on November 1, 2017.
How Does Peerity Work?
Peerity works similar to other social networking websites. The only difference is that it’s built on the blockchain. Here’s a basic step by step process:
Step 1) Get Started: Create a free and private Peerity account
Step 2) Participate: Join or create new groups, events, and activities either online or offline, including business pages, e-commerce, and crowdfunding initiatives.
Step 3) Earn Tokens: Get paid with PEER tokens whenever you and your group create or contribute to content, organize events, or participate in online and offline social activities.
Overall, Peerity is described as “crypto going social”.
The Peerity ecosystem will come with a variety of tools and distributed web services. These tools are in active development by Peerity’s team. Users can provide services like image rendering, ID confirmation, cloud storage, and more to contribute to the platform, then get rewarded in PEER tokens.
The Peerity marketplace will feature a wide range of products and services made by users or businesses. The platform aims to connect customers directly with merchants to lower fees and transaction friction.
Here are some of the unique features and benefits that distinguish Peerity from other social media websites and platforms:
- PEER Tokens: PEER has intrinsic, in-platform value; the developers are also creating a price stabilization scheme.
- Smart Contracts: Intuitive smart contracts are available via messenger and token-based tipping and voting systems.
- Tools: Peerity has an ecosystem of tools for images, storage, content, crowdfunding, and more.
- Proof of Stake: Peerity uses a proof of stake distributed consensus “for unlimited growth & higher fault prevention”. Their PoS distributed consensus is powered by Cosmos multi-chain linkage, described as “the next-gen blockchain technology which enables ultra-fast connections, sustainable energy usage and unlimited scalability.”
- Own Your Data: For traditional social media websites, you’re the product. With Peerity, you retain ownership of your data. If you decide to share content or agree to see advertisements, then you’ll be paid for it. Nobody ever sells your data.
- Own your Content: When you create original content on Peerity, that content belongs to you. Peerity aims to create a safe space for creatives to share and sell their work among friends, groups, and other users.
- Get Paid: When you create content or contribute to the platform, you get paid in PEER tokens. You can spend those tokens on votes, buying products, or tipping other users.
- A New Social Experience: Peerity aims to “redefine social” with active interest groups, online and offline events, crowdfunding initiatives, festivals, and more.
Ultimately, all of these features are expected to lead to a higher quality social network. Today, social networks are overwhelmed with advertisements, plagiarized content, fake news, spam, and countless other problems. Peerity sees a better future.
Who’s Behind Peerity?
Peerity is led by co-founder and CTO Brenn Hill, a senior blockchain architect and software developer; co-founder Tuan Pham Anh, another blockchain developer who graduated from Topica Founder Institute, a competitive Asian startup accelerator; and co-founder Jan Schets, network security expert and altcoin miner who founded Jandy Infomedia Limited in 2013. Other names mentioned on the Peerity whitepaper include Forrest Alcamo and Paul Valencourt.
The Peerity Token Sale
Peerity wants to heavily implement tokens into their platform, giving a real-world use for the tokens from the day they launch the Peerity platform. They also plan to use the initial funding from the crowdsale to build the entire platform – there will be no additional investment rounds.
There’s a total supply of 100 million tokens. 80% of tokens are being sold in the main crowdfunding campaign, with 10% going to the initial crowdfunding campaign. 7% of tokens are reserved for Peerity LLC, and 3% are going to early investors.
The token crowdsale opens on November 1, 2017, with a pre-sale starting on October 4.
Depending on how much money is raised during the crowdsale, Peerity will adjust its development goals. If they raise the lowest level, 500 BTC, then they’ll launch the platform in Q1 2018. If they raise 1500 BTC or higher, the platform will be launched in Q4 2017.
Peerity is a decentralized, blockchain-based social network that aims to democratize social media. By “democratizing” social media, Peerity aims to put users back in control of their data and content while building social connections online and offline. You can get rewarded for contributing content to the platform, or for providing cloud storage. Rewards come in the form of PEER tokens.
To learn more about Peerity, or to participate in the crowdsale today, visit online at Peerity.io.