NEM revives its platform following the footsteps of EOS and Read. Cash with its own social media platform. NEM Hub will reward social media creators by distributing its native token as we are reading more in the NEM news.
NEM revives its platform by launching a cryptocurrency-powered social media platform that will pay crypto as a reward as a way of earning rewards for NEM, not being a site for general content. The XEM prices are still in an upward trend as the platform gains more users. NEM is taking a new approach to marketing with the NEM Hub, a social media platform that will pay its users to generate content with NEM Hub going live on July 15th. The platform users can earn crypto by completing requested tasks or to produce their own content such as articles and videos and they can distribute rewards to each other and earn points.
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The Symbol platform provides enterprise & developers with the tools they need to develop their business solutions. In this video, we delve into the architecture of #Symbol #blockchain. Which layers do you interact with most?
— NEM (@NEMofficial) July 23, 2020
There’s now a marginal user base of 800 people and 400 active users on the social media platform many of whom are connecting their accounts to Telegram and Twitter to cross-post content. These users receive more than $10,000 worth of XEM per month or about $25 per month. The Hub’s group blog on Medium produced 31 articles that received more than 1800 readers this month and even ran a contest to design the logo for Japan which is the most bullish country for XEM historically.
NEM Hub is comparable to other sites that pay content creators in cryptos such as Publish0x, Steemit, and Read.cash. However, the XEM-powered platform is quite unique as it is meant to be used for the NEM promotion itself and aimed at users who have a stake in the token’s success. There is a slight barrier to entry as users have to own 4000 ZEM to be eligible for rewards. Because NEM Hub content can be cross-posted on other platforms such as Twitter, the project instantly benefited the social media standing. However, this raises the question as to why users will use NEM Hub as an intermediary.
NEM Group says that the social media impression count increased by ten times because of the release and the platform is involved in Symbol, the next-gen blockchain aimed at enterprises. The market ignored this cryptocurrency because it has similar goals with Ethereum as both of the projects launched in 2015 meaning that NEM didn’t have the chance to become the “next Ethereum”
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