Reveal Finds A Way To Make Your Social Media Habit Worthwhile

Reveal is hoping to change the direction of social media by shifting the focus away from advertising and on to quality content creation.

The startup has created a space where users can contribute to a social network and get paid for it.

The company is using its own cryptocurrency to reward valuable users in hopes of creating an online forum where content is king.

Reveal Coin

The site pays users with Reveal Coin, a digital currency backed by Reveal's future income. The idea is that early adopters and power users will be rewarded for making the site a success.

In order to make the coins valuable, the site will only allow advertisers to purchase space on the site using Reveal Coin. Theoretically, that means interested firms will have to buy Reveal Coins from the site or from its users, thus giving the coin some value.

Reveal says this system could have made sites like Instagram huge sums of cash; the company estimated that an "Insta-coin" would have been worth around $1.76 today.

Related Link: New Software Makes It Harder To Use Bitcoin For Criminal Activity

Content

The site has drawn from the Reddit's massive popularity and allows question-and-answer forums where celebrities can engage with fans or discussions pertaining to a single topic can be had.

Posts that receive a high number of likes are rewarded with Reveal Coin, providing users with an incentive to post engaging responses.

Fund Raising

The site has already caught the attention of several big name venture capitalists.

Digital Currency Group and Boost VC, among others, contributed to Reveal's latest fundraising round which netted $1.5 billion.