Snap, Paid, Post – that’s the tagline of the new social media app ‘Belacam’ that wants to take on Instagram.
It’s a community-based system that allows users to give and receive money in a photo-sharing social media site.
The system works on a one-to-one ratio where the money that the poster receives comes from the user who liked the post.
That is, when Dave likes Sally’s photo, Dave automatically gives Sally a few cents from his own account. Sally can withdraw that money or use it to like other posts later.
Will it work? Will that will depend, will you pay to like someone’s photo?
Belacam point to artists, photographers, and social media personalities that have masses of loyal followers.
Many dedicated followers are open to giving a small amount of money as their way of showing appreciation for the content being produced.
I remain a skeptic of the platform myself especially as the platform introduces a lighter digital currency version of bitcoin called “Belacoin”.
However, it does the raise issue of content producers not being paid by platform heavyweights such as Instagram.
Similar to gaming, where a console is only as good as the games it has access to, platforms are only as good as the content producers on that platform.
While facebook has evolved to include monetization for Instant Articles, Videos and soon to be Live – most of those features are only available to publishers and not individual users.
For instance, on Youtube, if your video went viral (probably thanks to Facebook), the uploader would gain money from monetization (those ads that come up before & during a video) on Youtube.
If you go viral on FB with a FB video… you make nothing.
Same for a beautiful instagram that’s embedded onto a news website and shared virally.
You might get fame…but fame, like my mama taught me… doesn’t pay the bills.
Solutions for artists, photographers and creative individuals of the like are limited.
Sites like Twitch allow users to “fundraise” or “sponsor” streamers who have a large following but not large enough to make money from having sponsored ads on Youtube, however, the platform makes money from advertisers with “partnered” streamers making a small percentage of this.
The addition of purchasing games from Twitch helps add to this revenue stream for both the streamer and the platform
CitizenTV had a concept to pay its most popular content producers with a money incentive also. However a year later the platform had disintergrated after not being financially viable due to no advertising and therefore no revenue.
It seems that there are very few platforms (with the exception of Twitch & Youtube) that allow both normal users and platforms the opportunity to generate revenue.
The fact that there seems to be no revenue generation for Belacam makes me cautious.
However the platform that can allow both, will no doubt rule the social media world.