Founder & Chief Operation Officer of The Lovechain, OMAR DIAB, reveals the endless possibilities users can achieve on his blockchain based social media platform…
Tell us about The Lovechain and what exactly your company is all about.
The Lovechain platform is a blockchain based social media platform that allows users to create immutable and transactional records of anything they choose to post about in the form of NFTs and uploads to the blockchain. The Lovechain ecosystem includes The Lovechain social platform, an NFT marketplace, integrated third party applications such as digital wallets, digital content creators, artists and businesses.
When did the company start up and why did you decide to do so?
The idea was first conceptualised a few years back as blockchain projects began to proliferate. We recognised an opportunity for a social media platform that enables users to create permanent uploads to the blockchain, which they own forever. The platform also came about as an initial response to the data breaches some of the major social media platforms were responsible for at
the time. My co-founders and I recognised an urgent global need for the decentralisation of social media, putting data control back in the users’ hands.
Describe the journey so far.
As a space that’s evolving at a rapid pace, we sought to stay ahead of blockchain trends and developments, adding new value propositions to our initial concept. In the last year, we’ve worked with some of the best blockchain and tech professionals and have continued to fine tune our product in the lead up to our launch.
What can we expect from the launch this month?
We expect to see a lot of growth in our platform as other social media platforms such as Tiktok continue to pose security threats to governments, individuals and communities whilst also tending to take more than they give back to the people powering social media – the content creators.
You’re the first social media app that lets users turn their posts into NFTs. How are they rewarded for their participation?
The in-app rewards tokens are issued to those who participate in the app by creating, engaging with and sharing content. Users are rewarded for engagement with and popularity of their content. In addition, they are able to sell their content as NFTs, thus generating a revenue stream.
How exactly does the single tap NFT generator work?
You can create a post like you would with other popular social platforms and select the NFT toggle option to instantly generate an NFT.
Why do you feel the market needs The LoveChain?
Social media users currently lack data control and are not sharing in the financial gain the platforms receive for their content. The Lovechain envisages a community of empowered users with the ability to control their data’s visibility and transparency. The Lovechain social media platform provides the very mechanism of control to each user so that their data is not used without their knowledge and without reward.
Who are your competitors and what separates The LoveChain from the competition?
Despite having a niche offering, we are competing with general social media platforms as we are trying to solve some of the problems and threats they pose to our society.
Why should MAXIM readers sign up to The LoveChain?
Like last month’s MAXIM cover girl and Married At First Sight star, Evelyn Ellis, MAXIM readers can enjoy new revenue opportunities for their content. They can monetise their content by uploading them as NFTs, or alternatively, support content creators such as Evelyn by engaging with their content or purchasing from their NFT collections.
What do you love about social media?
For the majority, our lives have been changed by the development and adoption of social media applications. We love that through this revolution our social interaction has changed the way we relate to people throughout our personal and professional lives, with social media fragmenting into unique communities, gaining people better access to like-minded others.
Lastly, tell us a bit about your team’s personal background in the industry and why you are the best crew for the job?
The Lovechain team is made up of individuals from diverse backgrounds that straddle business strategy, financial markets, digital marketing, legal and blockchain engineers. Each team member is an expert in their field and collectively they contribute to a well-rounded approach to tech. We believe our collective experience will see great success to The Lovechain.
For more info go to: thelovechain.io
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