Press Release
PRESS RELEASE. Miami, Florida. – Vybe, LLC announced today that they are building an app that lets people mine their social media for cryptocurrency.
“What if you earned crypto for every like you earned on social media?” Vybe Business Development Manager Blake Marum said, “That’s what Vybe does. It connects your content creator sites to a cryptocurrency wallet and automatically deposits VYBE into your wallet for every like you get on social media.”
VYBE (or Algorand Standard asset, ASA) is a token on the Algorand cryptocurrency blockchain. It operates like Algo, and has been verified by Algorand’s official wallet, Pera.
“The app disperses 222,603 VYBE every six hours for 20 years,” Vybe Lead Developer, Ravi Dhar, explained, “It calculates the total number of likes, posts, followers and other metrics that each user gets in six hours and awards them a proportion of this mining pool. This measures the quality of content. VYBE is a measure of content quality. The app gets more VYBE the more you like it. Users are miners who get paid to post.”
After being downloaded, the app automatically runs in background and deposits VYBE to your Algorand bank account. “It’s like a bank account,” Marum said, “or a slot machine,” he laughed. “Ching, ching, ching… You don’t have to do anything else. This app rewards quality content and awards quantification. If you’re posting anyway, why not get paid for it?”
How much is VYBE really worth?
“Nothing,” Vybe Project Manager Armaan Kapoor said, frankly, “right now they’re worth absolutely almost nothing. Almost zero. But the plan is to change that.” Kapoor, however, said that they’re building quality products with real use cases that have value over time, and he explained why he and his team think this code creates substantive value,
“Instagram made over $20 billion dollars in ad revenue last year. How much did their own content generate? It was very little. Users created the content. That’s what you did. What did you get for your content? Nothing. You produced their content, and they paid you in heart emojis.” Kapoor added, “Your content has value. That’s why over half the world’s population uses social media and spends an average of three hours a day on it. That’s why people follow you, and that’s why Twitter is worth $44 billion dollars. Vybe tokenizes the likes. This isn’t possible with credit cards and centralized systems. This is possible with cryptocurrency and blockchains. This makes it possible for creators to extract these likes, and some of this value, off your social media sites and put it in an Algorand wallet, where you can convert it to other assets.”
Kapoor stated that Vybe made it simple for everyone to mine cryptocurrency. Vybe makes it possible to mine cryptocurrency without expensive processors. These processors consume lots of electricity and are then discarded like BTC. “This is our mining mechanism,” Kapoor said, “this is how we distribute VYBE to the world.” Vybe is also building a geolocation gaming app to add additional value to the Vybe ecosystem over time.
Vybe began their Early Adopter program in May. They plan to launch the mining application on August 1, and it will run until then. Learn more on the website and register to become an Early Adopter. “We’re in this,” Marum said, “to build useful apps and have fun.”
You can find more information on Vybe at their website. Instagram, Twitter, Reddit And their otherUse social media platforms. Learn more about Vybe and the team Here.
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