The second day of CoinGeek’s New York conference saw the many emerging features of the blockchain social media platform, Relica. Brothers and co-founders Daniel (CEO) and Jeremy Street (CTO) showcase what Relica has in store over the next few months. Such features include geo-NFTs, Relica Maps, and an NFT Marketplace. With some available now and more upcoming soon, Relica is quickly becoming a social media sandbox. Allowing for a vast array of possibilities, content, and meaning between businesses and users alike.
Relica launched at the beginning of 2021, bringing a transformative reimagination to conventional social media platforms. The platform introduces data ownership and microtransaction integration to an image-sharing social media.
Unlike Facebook or Instagram, Relica stores the hash of a user’s data or photo to the BSV blockchain. This serves to prove user ownership over their data, instead of Relica maintaining full ownership. “Facebook start to collect the data as you go through their app. Everything that you like, your age, your interests, your hobbies. All of it is collected then sold off to third party advertisers,” Daniel said.
Additionally, the use of micropayments within the platform allows for value creation and the ability for every user to earn from their posts. “0.05% of users on Instagram are earning from their photos,” Daniel said. In Relica, 100% of users generate revenue from their photos from day 1.
As Relica takes a small percentage from every microtransaction, there is also no need or incentive for an advertising model. These features, facilitated by the BSV protocol, make for an unbounded level of value creation to the end-user.
Putting Bitcoin on the Relica Map
With the core values of Relica in place, the team has had time to innovate and evolve the application beyond simple image sharing. “Relica has always been about capturing moments… But what is a moment, if somebody else isn’t there to share it with you?…
