London, UK, Oct. 27, 2022 (GLOBE NEWSWIRE) — The need to reward and empower users of social media platforms while maintaining security and control over personal data has created MySocialVerse as an advanced product that merges the concept of social media with the of social media combines blockchain to create a decentralized platform that offers users autonomy and restores self-control/ownership of their content and data.
The platform offers various utilities to users, companies and blockchain developers, including:
1. Passive income for platform users,
2. Users retain decentralized control over their data,
3. Generating revenue for developers and increasing product sales from advertisers.
The MySocialVerse platform strives to develop features that allow users to monetize their social media activity. Given the decentralized nature of the platform, users have full ownership and control over their identities, data and other intellectual property. This allows users to tailor the content they receive through the platform to their specific passions and interests. Users can choose the advertisers they want to share their data with for commercial purposes. They then receive payment directly from the advertisers in the form of MySocialVerse’s native token.
Advertisers gain mutual benefits as the users who engage with their content closely match their target audience, improving the possibility of increased revenue generation. The platform ultimately offers users the ability to earn tradable tokens simply by browsing, sharing, and creating content using MySocialVerse.
Additionally, the platform facilitates opportunities for merchants for developers to monetize their work. Developers can conceptualize, design, develop and seamlessly deploy various digital applications, games and spaces on MySocialVerse.
Additionally, MySocialVerse’s native token is referred to as “MSV” which is then distributed to users, contributors, and developers. The MSV tokens will be tradable on major decentralized and centralized exchanges and will provide direct liquidity routes into other cryptocurrencies or fiat currencies. To ensure that an anti-inflationary/deflationary character is maintained, part of the tokens generated with each transaction on the network are burned, thereby permanently phasing out the tokens.
In terms of tokenomics, the transaction fees charged for trading or transferring MSV tokens are 5%, with 1% used to fund marketing efforts and 1% channeled into the liquidity pool, and 3% BUSD rewards. Consequently, MySocialVerse restores the control that all users can have over their data, while all related revenue remains with the rightful owner, the user.
The newly founded crypto platform combines blockchain technology with social media concepts. The Company’s cyclical model creates a symbiotic relationship between the user and the advertisers, with both being able to receive financial benefits through the use of the platform’s features.
Besides the monetary features, the platform also offers the user interface, security standards and promoting a friendly user environment, all of which are required for social media platforms.
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