Media sharing and advertising platform Snapparazzi has released its minimum viable product (MVP) of a blockchain-based platform. The app allows smartphone users “to become a reporter” by sharing their footage or a photo of newsworthy events. The contents will be paid by interested buyers — TV, newspapers, radio, etc.
The app is aimed to solve the problem of incomplete media coverage as a lot of media lack journalists to send to the scene. Snapparazzi is ready to bridge the gap by encouraging users to capture the footage of newsworthy events. According to the company, with the new platform content creators can earn much more compared to YouTube. The auction system allows users to sell their breaking news footage with only 20% of Snapparazzi fee, ensuring they will get a good deal.
Ethereum-based tokens SnapCoins are used for payments on the platform. All auction’s bids are saved on the blockchain-based Smart Contracts. Once the seller and buyer agree on the price of the content, they use this Smart Contract. The payment for the content to be transferred instantly and automatically with copyright protection. All Snapparazzi’s transactions are stored as an immutable ledger, which protects them against cybersecurity threats.
Snapparazzi pre-ICO was launched on Sept. 14th. The company believes that their social media community will contribute to the success of the initial sales — with 2260 ‘Karma Points’ on Reddit, 85K followers of Snapparazzi on Telegram, 16K on Instagram, etc.