Empowr, a social media startup, says it will airdop 500 million digital coins beginning on US tax day, April 15th. Each month, empowr says it will distribute 10 million coins through its Bounty Program. This “free” initial coin offering (ICO) is said to be a first. According to the FAQ on the Empowr site, the company explains itself as follows:
“empowr is a democratic social economy that works by having the crowd reward the crowd for their content. It does this thanks to the empowr blockchain and cryptocurrency; empowr coins are ‘minted’ daily and distributed to content producers according to the “Likes” they receive. empowr makes money through transaction fees between the marketplace, advertising, and subscription services. empowr citizens earn from posting content, selling and promoting products and services in the marketplace, or by teaching other empowr citizens how to be successful on the platform.”
Brian Woosley, President of empowr, said that by airdropping all of their coins they are aligning with their core belief of putting the power back into people’s hands.
“Without accepting a single penny from corporate investors and advertisers, the empowr platform was built by sacrifice and dedication by generations of users. It is with that same spirit that the community has voted to now pay it forward to the crypto community – on a day where they’re spending money rather than earning it – Tax Day.”
So are the digital coins totally free? Kind of. You can start minting coins by posting and sharing photos, blogs, videos and status updates etc. Empowr says their 800,000 active alpha users are already mining cryptocurrency by posting and sharing content; selling and sharing goods and services; or helping others do the same. Apparently, users can spend coins in the platform’s robust marketplace and on advertising, subscription and other services provided by empowr.
If you are curious you can see the list of empowr advisors and management here.
empowr has scheduled a live stream on YouTube on Thursday March 22nd for people to ask questions about the company and its plans.
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