Social media is now an important part of our lives. As the number of users on social media increases, this area has become a place that brands cannot ignore. Users are also in a great race to increase the number of followers and to work with these brands. The fact that social media is a great source of income has turned into a place of additional income for some, and a profession for some people. With brands turning to social media, social media content production has come to a very important place. Influencers are now an indispensable marketing tool for brands. However, the number of influencers in the large community of people using social media is very low, contrary to what is thought. According to data of January 2022, there are 4.62 billion users on social platforms and only 50 million of them earn money by contributing. If we add 3 as the number of multiple social platform accounts active for creators and platforms with +10k followers on each platform, the creator economy is only 3% of the entire community. This means that 97% of users earn nothing.
How do people make money from social media?
Brands allocate a large part of their budgets for the promotion of the brand to phenomena. The most important thing that brands care about is accounts with high followers. Influencer or famous people who make deals of brands share the brand’s products as stories, reels or photos. It also earns money by adding links to its stories, allowing its followers to access the product easily. However, reaching large audiences and making money on Instagram is not an easy task, contrary to popular belief. It takes a long time to work on this job, produce interesting content and increase followers. While some make this business a profession and earn big money, a very large part of the users cannot earn any income.
One of the professions that entered our lives with social media is “YouTuber, that is, YouTube content production. These people who make money on YouTube have to regularly upload videos to YouTube. In order to start making money on YouTube, it is necessary to reach a thousand subscribers and have been watched 4 thousand hours. A feature that distinguishes YouTube from Instagram is the rate of watching the video rather than the number of subscribers or followers. YouTube’s algorithm and revenue source are the ads placed on the video. The more exposure viewers are to the ad, the more money the video producer makes. The main source of income for YouTubers is also sponsored content. Those who cannot make money from advertisements can make high profits by collaborating with brands. Another monetization method is the ‘join button’. With this feature, the content producer can produce special videos for their subscribers and earn income through live broadcasts from their subscribers who click the ‘join button’. Another monetization method from YouTube is ‘content licensing’. Thanks to ‘content licensing’, the creator’s video cannot be used without permission. YouTuber can allow a certain part of his video to be used for in return for payment.
Video sharing application TikTok is another social media application that is among the popular applications that make money. Methods of making money from TikTok; We can list them as e-commerce, sponsorships, directing your traffic to YouTube, live broadcasts and growing other social media accounts.
Some videos on TikTok can be used for product promotion. Users can direct their followers to e-commerce stores with the links they add to their profiles. To earn money from sponsorships, it is necessary to have over 50 thousand followers. Users who include the products of sponsors in their videos can generate income from the brands with this method. In TikTok, as in Instagram, brands prefer to work with accounts with high followers. While the number of views of the videos in the application is not enough to earn money, users who direct them to the YouTube channel can earn income from advertisements.
Users who exceed 50 thousand followers can make money from users watching live broadcasts by broadcasting live. The owner of the live broadcast earns from a certain part of the users by sending them likes and emojis that they buy with money. Users who reach a high number of followers can also generate income by directing their followers to other social media accounts. In particular, advertisements for Instagram have reached the highest figures of the last period.
If you have noticed, in the applications mentioned above, it is necessary to reach a high number of followers in order to earn money. This makes it necessary to spend a lot of time for the application, to keep the followers alive and to make interesting shares. Even if the number of followers is high, brands do not prefer to work with influencers with low interaction. The reason for this is that while investing in influencer, they want to reach their brands to a wider audience and turn it into sales.
You start earning as soon as you launching the application on Yoorbit
Unlike all other social media, Yoorbit offers a brand new revenue model to earn for every user who uses the application. With Yoorbit, the first social media application to earn crypto using blockchain technology, it will now be possible for everyone to win, whether they are influencer or not. Experience matters on Yoorbit, not the number of followers. The more experience you share, the more you will earn. Increasing your follower count will only be a factor for you to earn more.
Thanks to investments, YOORBIT will launch its project with RATE Token, which aims to ensure the use of cryptocurrencies by combining it with cryptocurrencies that are seen as an investment tool in the world. The user will make a profit by contributing to the social network interactions which they are already used to by taking part in a reliable formation that will make a difference in the global space where the user earns crypto as long as they interact and where they create their own digital universe. Start rating the likes of your internet worlds, create your own universe, earn crypto!
Rate to Earn on Yoorbit
How to earn on Yoorbit?
- Start earning using the app
Users will be able to earn RATE by rating existing content, creating new posts and commenting, launching the application, sharing on other social networks, inviting friends. When a user become more active, he/she can earn more. If you become early adopters in system, that means you will get more from the token pool.
2. Having tags to NFT
Tags are at the center of YOORBIT. Ratings and all interactions are connected to tags. Each unique tags is a candidate for being NFT. YOORBIT has its own NFT marketplace where users can mint, buy or sell tag NFTs. After minting, tags of owned NFT is linked to corresponding user for future income. Whenever a user rates, comments or interacts using these tags, NFT owner earns RATE token.
3. Upgrade your Status
The status of the users determines the RATE multiplier they can earn. Each user starts with the default status with 1x. The multiplier increases with each status upgrade. The status upgrade is not free and can be used by users with enough RATE. If a user does not meet the status conditions any longer, the status gets downgraded.
4. Converting Social Profile to NFT
Top users can mint NFTs from their profiles and sell them in the marketplace. NFT holders have earning-per-share of this profile’s income. So everyone can become an investor of a “Social Profile” they like.
5. Rocketing RATE tokens
Each user has some predefined RATE token right to send other users. If you like someone’s post, you can send him a ROCKET which has RATE token in it. This amount does not decrease your wallet. Actually, you have to send some Rocket to deserve same amount of tokens. That will make engagement more, increase content quality and retention.