Social media platforms and networks of all kinds have been exploding in terms of popularity over the last few years. Tons millions of people use their social media accounts every day, for a wide variety of different things. Each of the main and popular platforms has multiple millions of users, who all have different usage patterns.
However, these networks aren’t only for keeping up with your favorite celebrities or your friends, or showing off your cool lives, they are also becoming an increasingly popular place for people to get their news. In fact, nearly 70% of American adults get at least some of their news from browsing social media on a day to day basis. This is fine if you get it from a reputable, unbiased and quality source, but there is so much unreliable and inaccurate information out there, it can be hard to know if what you’re seeing is legitimate or not.
So while there are definitely some great things about social media and social news platforms, there are some major issues and problems with them as well. One company and platform that is looking to change the game when it comes to social news is Sapien.
Sapien is a completely customizable, safe and democratised social news platform. It will seek to reward content creators and will also have a protocol in place to ensure that content is accurate and valuable. They will also have a “reputation score” in place to help stop the spread of inaccurate news. In addition to that, they will allow both public and private browsing, encryption for your safety and a feature-rich chat platform as well.
Rewarding creators for quality content based on the quantifiable value of the content they create is something new in the world of social media. Also, because Sapien is decentralized, these rewards won’t be coming from any big businesses or centralized intermediaries. Also, with a reputation score in place for users, you will be able to see who has been producing accurate and quality content, and who has simply been spreading propaganda and trying to push forward their own unique narrative.
The users of this platform will also have the power when it comes to the direction that the platform will go. They will have a voice in organizational decisions, as well as helping to develop and approve various different features. Essentially, it is giving you more control and “say” in a social media or social news platform than you have ever had before. The Sapien Network is also hoping to launch a marketplace that will enable SPN holders to purchase virtual and physical goods that you cannot find anywhere else. Sapien will be able to also have some functionality when it comes to working with other apps, so the sky is the limit for what could be possible for the news with Sapien.
The pre-sale for Sapien is currently live as we speak and will go until February 15th 2018 and the official token sale will begin March 3rd and go for a month. So far, in only a short amount of time, Sapien has managed to raise over $12 million so far, which is quite impressive. As for how the company is allocating the funds they have raised, 55% is going to development, 10% is going to security audits, 5% will go to legal fees, 15% will go to marketing and the final 15% will go to administrative fees. The final exchange rate for the token will be announced closer to the start of the sale.
The token that is being sold during the ICO is the SPN, which will not only incentivize great content and power the platform, but it will also serve as the backbone for the tokenized economy. The company has also made public the distribution of the tokens which will be as follows: 45% will go to public contributors, 30% for the platform reserves, 20% to the team at Sapien and the last 5% will be for bounties.
So now that you know about the company, the features of their platform and the details on their official token sale, let’s take a look at the individuals who helped make this all possible, the team at Sapien. The team was founded by two former UC Berkley students (Ankit Bhatia and Robert Giometti) who are both responsible for developing many of the features in the platform. The team is rounded out by other young individuals with expertise and experience in development, marketing, security and more. They also have many advisors as well, who have decades and decades of experience in a variety of different areas.
The team all live by a few core values that are very important to them. They believe users should have a say in communities that they belong to, and believe that targeted advertising is wrong as it puts privacy at risk. They also want to allow for free speech and they feel everyone should be able to tailor their social news and media experience to their own unique preferences.
In conclusion, Sapien is hoping to change the world when it comes to how we get our news. It is taking all of the good things about getting your news via social media, while make it a simpler, better and more streamlined performance. Add in the various other features we mentioned earlier, and you have something that could really change the game.