People can now post content, recommend products they believe in and get paid!
That’s according to PINC, a startup that plans to offer a new platform that will be made available to help people get paid for sharing social media content.
The service uses a bit of everything to work. It employs technologies such as artificial intelligence and blockchain matched with gamification logic to provide a more interactive and personalized experience for users.
The stakeholders involved with PINC included CEO and media-tech entrepreneur Sabrina Wang, COO and Inspireo co-founder Francis Sim, CCO and indie musician Edmund Lee and CBDO and grassroots advocate Grace Tang. The project is backed by Quest Ventures, a leading venture fund for technology companies that have scalability and replicability in large internet communities.
Though PINC is available to users right now, the service is still in development and aspiring users must register at their website. Any user looking to monetize their posts can access www.pincstyle.com and get a secret code to be eligible to sign up to use the services offered.
“Let’s face a simple fact: today, most social media users do not get rewarded for generating content, period,” explains Wang. “Social media platforms that have a significant reliance on user-generated content (UGC) share an open secret: you are their revenue making machines, and you do it mostly for free (if not, you even pay for it).”
In essence, the CEO’s plan is to take some of those benefits to the users as well, even as small as they could be. “In developing PINC, I envision the day where we will be able to address such imbalances,” she continues, “when equity is in the ecosystem and that society justly rewards content creators and provides respite to brand owners. In the era of big data and blockchain technology, I believe that PINC will be the solution and beacon of hope.”
The simple explanation is that PINC is a setup that uses a simple process for helping people to get their content shared while making money off it. But how does it work? A person will upload a picture, select from a vast catalogue of products, and tag that product on the photo to make it shoppable.
People who post and tag their content can get likes and points from others, and they can then cash out these points on the PINC platform; rewarding them for their work. Of course, the obvious implication is that people with the most follower will be the ones to take advantage off it.
So if the user is being paid, what’s the catch? How does PINC monetize its service? The company claims that it earns its revenue from the partnerships that it establishes with many prominent retailers. It’s working with groups like Shopbop, Bloomingdale’s, SSENSE “and many more” to make their products visible and available to everyone.
In an era of influencers and branded content, PINC might just be the tool to let many users catch their breath.