PINC is a recently-launched commerce blockchain platform. Its main purposes are to help brand owners build great relationships with their customers by helping them understand their customers better and to provide a personalized shopping experience for users.
Social media mining is the collection of raw data (ie. posts, tags, images, online usage) from social media platforms. In this process, information such as current and potential trends, as well as insight into customer behavior and usage, is extracted for further analysis.
This is where PINC comes in. Using blockchain technology, the platform is a decentralised social ecosystem on a public ledger; one built with transparency and trust in mind as all interactions and transactions in the platform are legal and verifiable.
The global e-commerce trade is reputed to be worth 1.7 trillion dollars with fashion taking up 481 billion dollars. The founders of PINC have seen this as an amazing market opportunity for the platform. They seek to disrupt the online FMCG industry with the added arsenal of the benefits of blockchain technology.
The problem and the solution
Social media is fueled by user-generated content all over the world. The big issue with this is that social media companies are the only earners from this content generated by content creators. The social media platforms can exploit both the content created by users and the data of how users interact on the platform without the creators making a dime. PINC is here to offer a solution to this by giving content creators the power of monetising their content and earning income, thereby correcting the imbalance.
PINC is a platform that rewards content creators and brands. How?
Well, what a PINC user needs to do can be explained in three simple steps: upload a picture, select from a large collection of products and tag (pinc) that product on the photo. The product is then immediately available for purchase. Users who post and pinc their content on the platform can earn likes and points from other users. These points can then be cashed out on the platform, enabling users to earn income for themselves.
The benefits of the platform extend to the brands themselves. Using data provided for the platform, the brands can generate analytics report and see how well their products are doing, how the customers respond to said products and how they can optimise their marketing strategy in order to gain a wider audience and increase buying customers.
The platform itself is a marketplace and social network all in one. AI algorithms learn from the users and structure their feed appropriately; by providing content from frequently visited users (or brands).
According to their whitepaper, PINC aims to be “the platform to inspire trendsetting, incentivising content creators, creating more opportunities for brand owners.” At the end of the day, content creators, brands and marketers will be able to profit-share and thus gaining income through user-generated content.
The platform has been gamified so users earn higher income as they interact more with the platform (ie. through tagging, commenting, liking). Brand owners gain greater prominence from product tagging and this increases their sales potential.
The PINC tokens will be based on the Ethereum ERC20 token standard.
PINC tokens can be bought on the platform or earned from directly interacting with the platform; daily posting of content, liking and commenting under posts and as rewards for making purchases. Tokens can also be acquired from the platform’s referral program, giveaways or as gifts from other users. In short, the platform provides several opportunities for users of the platform to earn tokens for their activities.
- 2% will be for Airdrops
- 5% will be saved for bounty
- 15% will be reserved for supporting current and future team members
- 10% will go out to the partners and advisors as compensation for their initial investment and support of the platform
- 18% will be reserved for future purposes
- The bulk of the tokens, 50%, will be put up for sale in several phases