Crowdsale & Cryptocurrency Fuels Next-Gen Social Network Synereo

If a new social network is going to break the mold of everything that went before, it's going to require a social media marketing strategy that’s just as innovative. In a follow-up to my blog post ‘Defining Synereo Before It Redefines Facebook,’ the programming team behind Synereo are relying on cryptocurrency to serve as legal tender when users register for their network, via a new crowdsouring mechanism called a ‘crowdsale.’

New face of Crowdsourcing 

A crowdsale is a campaign that uses bitcoins as a form of payment, as it is a trusted platform and a belief system that's come to be associated with decentralized technology development. It’s a term to describe the action of bitcoin pledges by users as a crowdsourcing resource to support the development of various types of software platforms.

Bitcoins for AMPs . . .

In exchange for bitcoins, Synereo provides their crowdsale participants digital tokens of their own, designed specifically for use on the their new network. In this case, that currency is called AMPs - Synereo’s information flow currency.

Synereo’s first crowdsale will go live March 23rd, 4pm/1pm EST/PT in the States and 8pm GMT overseas. It will run for 30 days or when 18.5% of all initially created AMPs are sold (Note: 1 billion AMPs at onset, where 5% will be created yearly to reward users as part of Synereo’s Proof of Social Contribution (PoSC) mechanism).

Synereo’s scenario

The actual crowdsale sign-up page for Synereo can be found here when it goes live. Interested parties will be able to send in bitcoins in any amount or wire transfer $100 USD or more. The USD/AMP rate is $1 USD to 154 AMPs. Currencies used in the network will be measured against USD at the time of transfer to determine how many AMPs have been purchased. For example, a $100 sign-up will provide a user with 15,400 AMPs at start-up.

Early access to the first live version of the network will be available for all those who register and make payments during the crowdsale. When the sale concludes, users get AMPs sent directly to the BTC address signed up with during the sale. For those who chose the 'USD dollar' option, they would need to set up a BTC address up at omiwallet.org. (Note: Omniwallet recommends the use of Chrome, since the wallet may not function properly on other browsers).

Alpha Version

From that point, all participants will be notified about the actual release date of the ‘alpha version’ of the site, which is anticipated to start a few month after the sale. There is no activity by users until this start-up.

When querying CEO Dor Konforty today regarding theDor KonfortyDor Konforty start-up, he indicated the exact date will be announced shortly in addition to a soon-to-be published live demo. “It is the norm both for crowdsales in the crypto-world and in the kickstarter ecosystem to receive funds based on published plans in advance of the actual product,” noted Konforty, and “our whitepaper describes this platform in greater detail.”

“There is a a guarantee of return. We are legally bound to send you our token, the AMP, in proportion to your contribution, at the end of the sale. Our terms and conditions, available on the crowdsale site state this explicitly,” adds Konforty.

Getting Serious about Synereo . . .

For those who would like to do a deeper dive into Synereo, there is quite a bit more detail highlighted in my previous blog.

Important to note that potential early adopters will benefit greatly by signing up with Synereo during the crowdsale. “For a small business owner who believes Synereo has potential, it makes sense to purchase some AMPs now. Even a small amount acquired at the crowdsale would allow one to promote a lot of content to many people once the network grows,” notes Konforty. "In essence, the more users there are in the network, the more attention each AMP can purchase."

Not only will they have guaranteed their invite to the Alpha version, they will be the first to kick the tires and take this network out for a spin, while providing the Synereo team with invaluable feedback as to what’s working, what’s not, and what to improve upon.  That’s an exciting time for the users as well as the founders - it allows both parties to collaborate and actully help steer the future course of something as out-of-the-box as Synereo. I’ll be there - hope some of my friends, followers and contacts from our other social networks will be joining me.

 

 

Comments
Mar 26, 2015
by DGDMarketing
DGDMarketing's picture

Very interesting read I had

Very interesting read I had never heard of synereo I just went over there and signed up for their updates just off to read your first post about it now as you linked from above cheers for the info have a great day Laughing