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.