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What Is Nexus ?
There is a dilemma when it comes to social media, and that is monetization. Social media sites need to balance between pleasing their investors and protecting privacy. To do so, they sell ads. However, that not always work. Snapchat, for example, missed growth in the latest quarterly report and saw its stock drop by 20% .
So, companies rely on selling private data to advertisers or other corporations in return for large sums of capital . That means that businesses have access to any information you share on. Every advertisement, post, or even news you see on your homepage has been chosen for you to maximise your time on their site and give advertisers more time influence your decisions. Nexus is looking to disrupt the current status quo.
1. The Company
Nexus represents the future of social networks. Just like Facebook proved we are social creatures, Nexus is demonstrating we are also guarded individuals. We want to share, but also be confident that only the people we accept are receiving the information.
As explained in their whitepaper, “Nexus is a feature-rich platform that allows you to communicate with friends and family in multiple different and unique ways, while providing state-of-the-art security and privacy.” To support this, Nexus created SOCIALS (SCL), its cryptocurrency that is used to pay for ad spaces on the new and feed without the need of selling private information.
2. The Team
Jade Mulholland and Mo Abbas are the founder/lead developer and backend/solidity developer respectively. Both men have years of experience, with Abbas being a former Microsoft employee with a vast knowledge of backend maintenance and development. The team that also comprises, Selena Bunting, public relations. Sara Fitzwilliam, nexus support. And Kelly Gooch, social media .
3. Market Use
Because no SOCIAL (SCL) tokens will be generated, there is no incentive for miners to work on the blockchain. The Ethereum backed token, was designed with the intent of having most of their coins available to users and advertisers. Additionally, users can make money out of Nexus. The social media platform gives you an entire market system (with a wallet and debit card) where you can set up offers, buy goods from other users, and also use it for crowdfunding.
Anyone interested in investing in this fantastic idea or even get involved in their platform should check Nexus’ whitepaper or check their social media sites, which are:
● official website: https://ico.nexus.social
● official Reddit: https://www.reddit.com/r/nexus_social/
● official twitter: @nexus_socials