Today we’re happy to announce the Snip token and platform.
Snip is the place to read content in a short and concise format about tech, sports, entertainment, politics, and everything else for 10,000’s of users and growing. Today we’re announcing that we’re taking Snip to the next level — with its own token and platform.
In the following weeks we’ll share with you an in-depth description of the product, our business plan, a look into the news industry, and details of the upcoming token sale.
But first we’d like to share why the world needs Snip. Today, in our information overdose world it’s hard to stay up-to-date on the topics you care about. Bloated articles designed to maximize ad space waste your time, while clickbait titles like “7 things you have to know about X (#4 will blow your mind)’’ are an insult. The result is that people give up on following topics they care about.
This is why, a year ago, we created Snip. On Snip, users have their own newsfeed full of short snippets of stories they care about. The snippets cover any topic you care about, thanks to our (open-source) personalization algorithms and a wide variety of writers. Snip is like that friend who reads all the news and then gives you the need-to-know version.
Snip caught on the minute we launched. We learned people were thirsty for a snipped version of the news they didn’t have time to follow. At first, we manually found the most interesting stories and summarized them. Finding the best stories was hard and took a long time, so we built tech (Machine Learning algorithms) that automagically discovers stories based on our users’ interests. It was a great product, people loved it and were even willing to pay for it — at the peak we reached 1,400 paying subscribers, but writing all that content ourselves just wasn’t sustainable.
The next step is creating a community of writers that create snippets for every topic readers care about. To achieve this, we’re launching the SnipCoin token which will be used by:
- Advertisers that will pay with SnipCoin to buy ad space.
- Readers that will pay with it for ad-free Snip, premium services like audio snips or professional content (think students and business professionals feeling overwhelmed finally receiving the brief they need).
- And finally the writers, that get paid when snippets are awesome.
The more traffic Snip gets, the more revenue is generated, the more writers earn — a virtuous cycle which constantly improves the platform.
In the next post we’ll describe how the media industry works and how we’re changing it.
Follow us here, on Telegram (https://t.me/snipnews) and Slack (https://slack.snip.network/). Many great snippets are on the way….
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