Synereo’s crypto-token, the AMP, has an inherent use and value on the Synereo network.
When invested in any type of post, AMPs increase the amount of views that post can receive compared to what it could get without. In essence, these tokens Amplify the power of a message, drawing more user attention to it. This allows anyone on the network to purchase user attention.
When a company offers you free service or free information, it often does it in the hopes of selling views – generated by you – to advertisers it partners with who and present you with ads and other promoted content as a part of your experience.
On social networks, however, the experience you get is centered around content created by your peers. Why, then, should your time and attention be monetized by a third party to the interaction between you and your friends?
That’s where Synereo comes in. By eliminating the middleman – Facebook, Twitter, and the like – all value – any type of value – generated in the social network remains in your hands.
If someone still wants to pay for your attention, and you allow it – the AMPs they invest in the content you see comes to you directly and automatically. And since people’s attention is a scarce commodity that is always in demand, AMPs have a base monetary value that represents the attention they can obtain for messages on the network.
Since AMPs are limited in number, and as a result of our attention economy model, AMPs also increase in effectiveness as the Synereo network grows, with each AMP invested allowing a post to receive more attention from more users.
Let’s examine how this works in more detail.
Synereo implements an economy of attention. This model is what governs the flow of information through the network. Where posts go and what priority they receive in your stream.
As users engage with each other, the system learns – without having to report this information anywhere – who pays attention to whom. Whose posts do you often like? Where do you leave comments and engage in discussions?
Reputations start to form in communities, creating a structure to the network. Reputation shapes how information flows through the net, similarly to how a massive star shapes the flow of particles with its gravity well. Bodies with more heft attract more mass; people with reputation attract more attention.
People with high reputation scores can more easily receive attention from others in Synereo, and not only from those who engage with them frequently and directly. If many of your friends on the network attend another friend’s posts often, his messages will have an easier time reaching you as well. Thus, a high reputation in a community translates to greater influence
Those of repute and influence do not only attract attention. They also attract people wanting their attention. If you know a person’s reputation is high – know he has a voice in a community – and you want to approach that community, his attention would be worth more to you than anyone else’s. If you want to increase your chances of a message reaching the community, if you want to heard above the voices of others, and you invest AMPs in that message, those in the community who have higher reputation scores will receive more of the AMPs attached to this message.
What message is so important that you think a community should hear it, even at a cost? Well, that’s up to you! You could write a political post and Amplify it to get your opposition’s attention. You could have a yard sale and want more people to come. You could promote a party you’re hosting. Or you could be a sports-clothing business looking for more customers in a local football team’s community. No matter who you are and who you’re Amplifying to, though, you’ll have to purchase AMPs and use them to purchase attention and views on Synereo. To facilitate the flow of value to the network, Synereo LTD will assist major advertisers and allow them to pay with fiat currency directly, exchanging it to AMPs for them and investing these AMPs in the posts reaching your eyes.
Users can always opt-out of seeing Amplified, promoted content, of course. They can allow it only from friends, from specific communities, from specific topics, or from everyone.
The fun part is that people who promote messages, no matter who they are, have a reputation score as well. If their content isn’t interesting and engaging, If their reputation is low, they’ll have to pay you more for your attention.
This is how AMPs get their “innate” value in the Synereo platform. As long as there are users on Synereo, AMPs allows anyone to reach more of them and acquire their attention.
Of course, once you have an open-source and highly extensible social network where everyone is holding units of value attached to their accounts, many other fun options open up for AMP use. We’ll leave that for another post.
What are you waiting for? Go get your first AMPs!