Synereo announced today the release of its first “Attention Economy toolkit” component: Synereo Qrator – a tool that allows users to monetize original content, get rewarded for sharing quality with others as well as discover the best content on the web.
Qrator will be released as beta in June, establishing a decentralized “Attention Economy Layer”. In the months to follow, Qrator will further include a distributed content delivery network, allowing users to directly upload content to the Synereo CDN. With the operation of Qrator, Synereo seeks to build a cross-platform and inter-network decentralized social graph, laying the ground for the network effects necessary to bootstrap a fully populated, decentralized social content app based on blockchain and distributed storage technologies.
According to a blogpost published by Synereo, Qrator‘s closest touchpoint to the existing Internet is a browser extension that follows the user while browsing through content hosting platforms such as YouTube, Soundcloud, Reddit and the like, and enables them to “Amplify” content pieces such as videos, music clips or articles, using AMPs – Synereo’s native cryptocurrency.
Synereo explains that “Amplification” is a process where a user stakes a customizable amount of AMPs on a given piece of content and spreads it through various social channels. If the piece of content proves itself to be accepted and posted further on by their audience, the user collects AMP dividends, while the creator of the content receives a share of every sequential Amplification staking-amount paid.
According to Synereo, this way, content creators can derive income from their work, while curators are incentivized to find promising content and distribute it among audiences interested in it. Additionally, Content creators themselves have the ability to stake AMPs on content and Amplify their reach in the network based on Synereo’s Attention Economy model. This creates a new “Internet Meta-Layer”, where the flow of information benefits those who have created value throughout it.
Power users, meaning professional curators and creators, can monitor their statistics on the Qrator Dashboard and analyze the added value they’ve created in terms of reach and traffic, also improving their curation activities through an understanding of their influence.
Explaining Qrator and its place in Synereo’s roadmap towards a decentralized social network, Dor Konforty, the company’s CEO, stated:
“Our main goal at this stage is giving users a taste of a network that puts Creators and Curators on top of the Internet’s monetary food chain. Qrator allows us to build a social graph spanning multiple services and bootstrap strong network effects on top of existing, popular applications. With this information and user base, Synereo will be able to hit the ground running with its decentralized social networking app – already populated with users, their social environments, identities and histories – all securely stored on the blockchain, privately owned, accessible and controlled by them only.“ – Dor Konforty, Synereo CEO.