Cryptocurrency is becoming an increasingly popular kind of investment.
An FKD Feature exclusive

Bold Biz: Current Media

Current Media Network rewards you for the content you consume!

Posted by BoldTV on Wednesday, January 31, 2018

 

If you’ve been paying attention to the news recently, you may have heard the term “cryptocurrency” floating around. This term was extensively used when referencing Bitcoin, which recently hit a record high before falling in value. How does cryptocurrency affect us today, and what are companies doing with it?

Cryptocurrency

Cryptocurrency is a form of digital currency that is now being widely accepted as a legitimate payment system. It takes a step away from traditional print money and adapts to the changing (and preferred) means of doing everything: via the internet.

Dan Noveas is the CEO of Current Media. The company sells tokens, which are a rewards system with cryptocurrency. The idea is to “reward you for your data, time and hardship,” Noveas said. In exchange for your media consumption, Current provides incentives to maintain a user base, such as rewards points and tokens.

Amongst the initial investors into Current was billionaire Mark Cuban, a noted internet entrepreneur himself. The platform consolidates other companies, such as Instagram, Spotify, YouTube and Instagram, into one, easy-to-use platform. This eliminates the need to continuously switch tabs and go to each individual platform.

The tokens are called CRNC (pronounced “currency”). CRNC “reduces or eliminates premium subscription costs for users, creates an additional revenue stream for content creators, and rewards curators for finding content that users love.” Said “tokens” are to reward users for spending their time, money and effort on each partnering website.

Eventually, the user of CRNC can accumulate enough tokens to buy a subscription to the website. After a while, these so called “content creators” are rewarded for contributing to the productivity of the website, and they can even exchange their CRNC for actual money.

Takeaway

Media consumption is a global habit for millions of people. People are utilizing the majority of their time on the internet for free. Many people are unaware of the rewards they could be accumulating by browsing their favorite sites. Current aims to pay users back for this media consumption; however, many people are still unsure about cryptocurrency.

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Posted 02.13.2018 - 01:00 pm EST