Screenshot of BBS.market
If you have started paying attention to the SocialFi sector due to Monaco Planet, there is another project you cannot miss — Bulletin Board System Network (BBS Network).
BBS Network is a decentralized Web3.0 public network consisting of interconnected message boards run by users. Recently, this SocialFi project raised $1.5M in seed funding led by Binance Labs and other leading venture capital firms like DAO Maker. BBS Network’s message boards look quite similar to Reddit, but on BBS, users can earn revenue via different engagement activities. Interestingly, the content on BBS Network is minted as NFT and is tradable. The very first BBS domain is BBS.market which users can easily build BBS on. Each BBS will have its own developers, operators, owners, users and terms of services.
Example of a BBS - Star Wars Theory
There are two type of tokens involved in this project:
1. Community Currency (CC)
Each BBS will have its own unique community currency. Each CC is pegged to 1 USD. CC is circulated in the BBS and can be cashed out as BBS tokens in certain circumstances.
2. BBS token
BBS token is the native token of the BBS network. It is also a governance token. BBS holders will be involved in BBS network management via voting.
How do you earn money in this SocialFi project?
The simplest way is to sign up and join different BBSs. You will be rewarded 2 CC upon sign up in a BBS. As content is one of the most important attributes in SocialFi, do also consider the following actions to earn CC in BBSs.
Create High Quality Content
Once you publish the content in a BBS, your content will be minted as NFT. Anyone in this BBS can buy it. Each post is originally priced at $0.3. After the first purchase, the post will be priced 30% higher than the last price. Although the post’s ownership will change, the content creator will continue to receive 10% (⅓ of the 30%) as royalties.
Become Post Owner
You can also discover promising content and buy the posts. Once you become the post owner, there are two things you can do:
- There is a banner on each post. You can lease out the banner to advertisers to earn CC;
- When a new buyer purchases the post from you, you will get what you paid + 10% premium(⅓ of the 30%).
Become Board Moderator
Board is what BBS calls its sub message-boards. Each board will have its own topic, similar to how each subreddit on Reddit has its own topic. As a board moderator, you will be able to take a 10% premium (⅓ of the 30%) in all post transactions on your board.
To earn BBS tokens, you can become a BBS owner or participate in Engagement Mining. If you would like to join the SHO (Strong Holder Offering) for BBS Network, keep an eye on the fundraising pad on DAO Maker.
The BBS network is still in its early stage but it looks poised for growth with its recent investment. Why not join and give it a try?
BBS Engagement Mining
Strong Holder Offering (SHO)
DAO Pad by DAO Maker
The views expressed in this article are the author's alone and do not necessarily represent the views of ApolloX.
Risk Reminder: Crypto trading carries a risk. All trading activities are done at your discretion and at your own risk. The information here should not be regarded as financial or investment advice from ApolloX. ApolloX will not be liable for any loss that might arise from your use of any financial product.
The ApolloX app is available on Apple Store or Google Play here.
Stay up to date with ApolloX!