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Account (NFT) and Marketplace
Renovating Social Networking
A non-fungible token is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files. Source: https://en.wikipedia.org/wiki/Non-fungible_token
- Each Bsocial account corresponds to a Non-fungible Token (NFT). Following the decentralized movement, Bsocial aims to orient a social network without the presence of one’s identity. The value of an account here will genuinely be shown by its content quality, follower count and also, the quality of its followers.
- When an account is created and consequentially activated, it will mint a NFT that contains a userID at Bsocial. Users will be able to conveniently log in to the platform by connecting the wallet that contains the NFT. The NFT Account system at Bsocial is built on Binance Smart Chain.
- With all the distinctive benefits of a NFT, such as uniqueness, high security and transferability, each account will be a valuable asset that can be traded.
- Being inspired by Telegram, plus the NFT Account system, Bsocial strives to bring out great privacy for users and “price” every account based on their published content, follower quality and account’s rank. On Bsocial, it doesn't matter who you are. Your value lies in what you have accomplished in terms of socializing, reflected through engagement statistics, and the quality of your published content. These values might directly or indirectly create some benefits for you, depending on how you look at it. A clear observation is that, if you are doing well on the platform, the monthly rewards for Top-followed Accounts can be your source of passive income. Therefore, each account can be viewed as a token with its own intrinsic value at Bsocial.
- Marketplace is introduced as a medium that creates assurance and convenience for peer-to-peer (P2P) account trading. Marketplace contract is set on Binance Smart Chain. Users trade accounts as NFTs.