Dor Konforty, Founder and CEOWith the onset of the Attention Economy, content quality holds the key and assumes paramount importance in winning over the audience. However, creators of content such as videos, music, and so forth, are often forced to rely on intermediaries like record companies or internet portals to connect with the audience. Too often, the intermediaries levy a heavy price on creators to market the content hosted on their platforms. Not anymore. Synereo—a blockchain technology pioneer based in Tel Aviv, Israel—has heralded a new era by removing the intermediaries and allowing content creators to connect with the audience directly by partnering with mediated curators among the fans through a peer-to-peer distribution process. Furthermore, the company’s path-breaking idea allows both creators and curators to easily monetize the content as well as the distribution process, without turning to advertising spaces. “Our system eliminates the need for content creators to go through a centralized entity and opens up opportunities for curators to monetize the distribution process,” states Dor Konforty, founder and CEO, Synereo.
In the core of Synereo’s workings is Attention Economy that follows the fundamental assumption to which human attention is a highly priced, scarce commodity, constantly fought over by the media and advertising giants. Synereo’s tools provide a brand-new way to monetize original content and its distribution, allowing users to send AMPs directly to the content creator, making the creator the sole beneficiary of his work. Moreover, Synereo’s model rewards content curators as well, for spreading quality content throughout the economy.
Based on principles of decentralization, content creators are assigned full ownership of their content and its monetization processes. Konforty mentions that Synereo does not interfere with creator–curator transactions and hence does not charge a fee for distribution.
Synereo’s first product, WildSpark, is a meta layer on top of the existing internet that provides a fair, free and rewarding method of publishing and distributing content online.
WildSpark makes content monetization platform-agnostic, it liberates content creators from the dependency on the monetization method provided by the publishing platform
The platform’s monetary rewards are based on AMPs, Synereo’s native digital currency.
Synereo’s modus operandi typically involves people appreciating a piece of content on an internet platform like YouTube (and various others in the near future), which they can “amplify” by sharing with others. The “amplification” process is carried out by investing AMP to obtain a link that can be shared. “The link can be used by other individuals to amplify the content, in which case most of it goes to the creator and the remaining to the person sharing the link,” explains Konforty. He further describes it as a unique model built entirely for content creation and curation, where people are incentivized for actively distributing the content they appreciate.
Moving forward, Synereo is in the process of implementing a distributive storage environment that allows users to migrate their content from any platform such as Facebook and YouTube to a distributed cloud from which content can be delivered directly to recipients’ devices. The company is gearing up to announce a creator program to onboard creators to its platform and has entered into partnerships with various industries’ leaders to reach out to mainstream audience. Konforty expresses confidence that the ventures would fortify Synereo’s position as a go-to firm for both creators of content and their consumers, eventually bringing about a new revolution of the Attention Economy, creating an egalitarian solution for all involved, not offered by today’s existing platforms.