Vybe LLC launched their social media mining app earlier this month. The app tokenizes likes, or, more accurately, content quality. It converts the likes and other forms of engagement that users earn on their social media sites into a token, called VYBE, then automatically deposits these into users’ cryptocurrency wallets once a day. As Vybe explains on their website, the app links a user’s social media sites to an Algorand wallet and converts engagement into VYBE.
“You can mine your social media and get paid to post,” Vybe Business Development Manager Blaake Marum said, “If you’re posting anyway, why not get paid for it? Right now, instead, you’re getting paid in heart emojis.”
The app has gained a steady following of energized users.
“People are curious about how it works,” Vybe Lead Developer Ravi Dhar said, “One of our goals is to connect people who’ve never had a cryptocurrency wallet before, so we’ve tried to make it as easy as possible for everyone, and especially non-cryptocurrency users, to mine crypto.”
Currently, users can mine their likes on Twitter, Reddit, YouTube and now TikTok. TikTok approved the Vybe app last Tuesday. Vybe developers integrated their API later that day.
“Right now we’re smoothing out basic features,” Vybe Developer Akhilesh Prabhakar said, “Like the leaderboard and statistics, but we’re excited to complete this, because we have other features we plan to build that leverage micro-transaction power. These will create use-cases, which most blockchain projects don’t have.”
One of Vybe’s goals is to be one of the most used apps on the Algorand blockchain, Vybe Project Manager Armaan Kapoor said. Some observers have debated whether or not VYBE will really help content creators capture and control their content better, and they have wondered how the app can make money long-term by giving VYBE away for free that can be immediately sold on a decentralized exchange. Others, however, have been impressed by this innovative concept. Twitter user SaxoSays, for example, said, “…I’m just really intrigued because if this is sustainable… It’s pretty game changing.”