All new things we learn start with new words!
Much of our frustration stems from having new words defined by more new words!
Crazy right? What if I do it differently, define new words with old words?
So my goal here is to define the new words with old words, and hopefully the result will be a better understanding.
One of the most important differences between Web 2.0 applications like Facebook, and Web 3.0 applications like Leofinance is the user you gets paid for their time and attention. So the explanation of how that works is very important. So I will break it down an American English idiom, which means to explain.
I believe it is actually a metaphor which means to separate a topic into it’s components, and explain each component.
Then by understanding the pieces, you understand the total or totality of the thing.
So let us begin :).
The terminology of content monetization of social media.
Content
The stuff you upload on Facebook, like pictures, poems, stories or anything else you upload is called #content.
Content-creators
People who write stories, write articles, take pictures, make music or movies, are all called #content-creators.
Publishing
When you as the creator or #content-creator upload #content on Facebook, so that people can see it on your webpage it’s called #publishing. In that case or example Facebook is your #publisher.
Publishers
You probably have heard of a famous author called Stephen King, who makes money writing books. His books are #content and Stephen King is a #content-producer. The company that #publishes his books or #content is called his #publisher. Other people who take pictures or write poems sell them through a #publisher. The #publishers help the #content-producers make money. The #publishers get a percentage of the money. Companies like Facebook, and other forms of Social Media like Instagram, Tik-Tok or YouTube use your content to attract attention to their platform, where they make money selling Advertisements to various products to people who look at your Facebook page. Your #content is what attracts these people. But even though Facebook is using your content to attract people to look at the Advertising, which makes them money, they keep the money your content generates via Advertising revenue, and don’t pay you anything, except for YouTube. On YouTube once you reach a certain number of subscribers and views, you get paid some of the Advertising revenue your content is generating.
Monetize
This means to turn something into money, but it’s not an actual transformation of something into money, it means use it to make money.I mentioned this above and explained how people go to your webpage to #view or look at your #content and while they are there they are shown Advertisements, which are paid advertisements. This is how your #content is #monetized or used to make money. This type of advertisement is very valuable because it’s called #directed-advertisement. That means the advertisement is only shown to people who are already interested in a product, so there is a much greater chance they will buy the product.
For example, you write an article about fixing a certain problem with your car. That article is #content and you are the #content-producer. The people who read your #content are interested in fixing cars. So companies which sell books about fixing cars or tools for fixing cars want to advertise on the same webpage as your content. They want their advertisements shown to people who are interested in their products already and who might buy it right away. This is called directing advertisements to people already interested in the product, because they are reading an article about a problem solved by the advertisers product. Directed advertisement results in lots of sales, so companies pay a higher amount of money for it. This is one way how Facebook #monetizes or makes money off your #content, and makes money off of the #time and #attention of the people who read your #content if it’s words, or view your #content if it’s pictures or art, or listen to your #content if it’s music.
Content Publisher or Content Publishing website
Leofinance is also called a #content #publishing #site.
Now let’s compare Leofinance to Facebook and review our understanding of these new terms in an example.
Leofinance compared to Facebook
Free versus getting paid.
Number one big difference between Facebook and Leofinance is that people provide #content to Facebook for free. On Leofinance people can get paid for the same content they upload on Facebook for free. The application Leofinance is free just like Facebook. It is a webpage application, so you don’t have to download it to your phone or computer. You just go to the webpage, type in your user name and password and see your personal webpage just like Facebook.
- They are both Free applications, but on Facebook you give your #content for free and the #time and #attention of the people who enjoy your #content is free.
- On Leofinance you can get paid for your #content in the form of #upvotes which represent #rewards or #cryptocurrency you are paid for your #content.
- On Leofinance the people who view your content and upvote it, get paid for their upvote, which is pay for their time and attention, plus they get paid for their comments.
User versus Owner
Number two big difference between Facebook and Leofinance is that on Facebook you are a user, while on Leofinance you are a user and an owner. Let me explain what that means:
Facebook, User only.
The Facebook the Terms of Service states you are a #user of the platform, and you don’t own your account, your content you post there, and you don’t own the list of followers you develop their by posting.
- Facebook owns your #content
- Facebook owns your list of followers.
- Facebook owns your account, and they can suspend or close your account, at anytime, and all your content and your followers list is lost.
Leofinance, you are a user and an owner.
On Leofinance you own your account.
- You own your account, it can’t be closed or suspended.
- You own your content, so it can’t be taken away from you.
- You own your followers list, so you can use it to promote your account and your content.
- Lets move on to more terms.
Wallet
But because you get paid on Leofinance you have a special page called a #wallet page where you see all the rewards you get for your content.
Rewards, likes, upvotes, liking and upvoting.
There are many things on Leofinance, you won’t find on Facebook. One of the most important of these is called rewards. Also Leofinance has #likes but they are called #”upvotes”. Instead of leaving a #like, you leave an #upvote. So instead of #liking content you #upvote it. The important thing about this is you receive a #payment or #reward for #upvotes. The payme@nt or #rewards for #upvotes on Leofinance are in cryptocurrency token called #Leo. But you can use your #Metamask wallet to receive your rewards in #Ethereum.
Author and Curation rewards
On Leofinance #content creators who upload content receive #rewards called #author rewards. They are considered the author of content they create. This includes written and video content. The rewards are a cryptocurrency token like Bitcoin, but it’s a different cryptocurrency token called #Leo.
Leo Token and Hive Blockchain
Leo
You have probably heard of Bitcoin, it is a form of digital money called a cryptocurrency token. Leo is also a cryptocurrency token like Bitcoin.
Blockchain
The book-keeping or accounting system which keeps track of Leofinance and Leo is called a “blockchain.” You probably have hearing about this #new-thing called the blockchain. It’s a new way to track money, supplies, events and store information. It is different from any other form of accounting isystem and it underlies Leofinance. But you don’t have to understand it to be a content creator, because on Leofinance we want you to focus on creating content, engaging your audience, reading content and engaging authors or content producers.
Simplicity
Leofinance utilizes a cryptocurrency and the blockchain, but the system hides all those complicated aspects and allows you to concentrate on making content, interacting with your followers and building your network. No special computer coding knowledge is needed, and other then creating content and interacting with your followers through commenting and upvoting comments, your focus can be on your passion, be it content creation, social interactions and networking or publishing.
Sign up is Easy
- You can sign up with your Facebook or Twitter account, so it is easy.
Sign up for Free
If your ready to create an account and make some comments, and maybe some friends.. you can sign up for free here <- Click Link.
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The End
@shortsegments
