Blockchain technology is transforming content creation and rewards systems, making them more accessible and valuable for both creators and users.
With the need for simplicity and utility in these platforms, industry experts are exploring how blockchain tech can streamline user experiences and enhance engagement.
Roundtable anchor Rob Nelson recently chatted with Paul Mikel, CEO/President of REVO Ride Share; Scott Lomu, CEO/President of Element United; and influencer Paul Cuffaro.
Paul Mikel discussed developing his blockchain-based social media platform, saying, "At some point, it'll become where people don't even know they're utilizing [blockchain]." He also highlighted the role of rewards in driving loyalty, much like his preference for Marriott hotels.
A plethora of social media challengers have popped up by leveraging blockchain tech to fight the threat of deplatforming, including Farcaster, Phaver, and Roundtable (which has partnered with TheStreet. ) Many of these projects have launched tokens that are tied to the platform — and many crypto projects often reward users for engagement using their native tokens.
Scott Lomu focused on token utility, explaining, "When you get that reward, what can you do with it?... If I'm involved in the Element blockchain... I know I can trade in these tokens for physical gold and silver." He underscored how token utility brings real value to users.
But not every token carries the same utility. Paul Cuffaro added his perspective on animal-inspired meme tokens, humorously noting, "If I could make tokens for each animal I have, I'd have a lot of tokens." He pointed out that tokenization can benefit both individuals and businesses.
