Howdoo: A 'Radically Different' Income-Generating Medium For Content Creators
Howdoo, a blockchain-based social media platform, aims to reshape online content delivery, CEO David Brierley told Benzinga.
A Platform For Creators
Howdoo arose out of the realization that incumbent social media platforms fail to give creators proper ownership and compensation for their content, Brierley said.
“Platforms out there today were not built with this influencer economy in mind. If you were a content creator, and that’s your full-time job, and you’ve got 10 to 20 million followers, how do you make money? What platform do you go to and how much do you make?”
Creators aren't making much, he said, giving the the example of the gaming platform Twitch.
"Amazon.com, Inc. (NASDAQ:AMZN) takes 50% of those tips, so you have no control over advertising [and] you can't monetize yourself. Your revenue line is controlled."
Howdoo increases control over content and addresses the demands of new generations, the CEO said.
"The content creator can decide if they want to provide free content or if they want to charge."
Creators are compensated via cryptocurrency transactions.
“Our currency, the µDoo, gives people the ability, once they pass KYC, to instantly, within the app, convert their µDoo’s into U.S. dollars, yen, euros, pounds" or other cryptos, he said.
In return, Howdoo maintains a 5% fee on tips to creators.
One Key Ad Metric
In addition to registering over 200 well-known creators, Brierley said Howdoo is affiliated with organizations like HP Gaming, IBM (NYSE:IBM) and Huawei in the distribution of its exclusive content library.
“Our footprint is about 250 million fans that follow our initial launch supporters.”
In the area of advertising income, Howdoo has attracted fresh interest from organizations that place an emphasis on cost-per-acquisition marketing metrics, he said.
“The advertisers are getting very fed up with traditional social media. Traditionally, they go through cost-per-click, [but] we all know that’s susceptible to mass bug fraud,” the CEO said.
Impressions "mean nothing," Brierley said.
"They want cost per acquisition — if we can validate that the person does A, B and C — they are prepared to pay more. You have a situation where the advertisers are struggling to get hold of Gen X, so they are looking for a new platform.”
CEO: 'We Can Be Agile'
People have become disinterested with incumbent platforms owned by large public companies, according to Howdoo.
“44% of Americans aged 18-29 have deleted Facebook, Inc (NASDAQ:FB); founders of WhatsApp and Instagram abandon[ed] their creations and platforms such as Twitter Inc (NYSE:TWTR), Tumblr, YouTube and Patreon de-platform and censor users,” the company said in a January press release.
Howdoo's business model is "radically different" from that of companies like Facebook, Brierley said.
"They’re handcuffed — slow — due to their business models. We can be agile.”
In its first 18 months, Howdoo expects to accrue in excess of 50 million engaged users. Additionally, Howdoo aims to become a part of consumer lifestyles, issuing wallets and debit Visa cards that allow creators to spend their µDoos.
“Creators now realize they are worth something, not the platform. If they can find a platform that will enable them to be in control over their business, but at the same time gives them the ability to protect their data so they are not exploited, it’s a perfect match in heaven. And, ultimately, that is what we're bringing to the market,” the CEO said.
The decentralized content network will fully launch January 2020.
Photo courtesy of Howdoo.
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