A NEW app, SnakeNation, that enables content producers to earn cryptocurrency will be launched in South Africa in August.
Users will earn SnakeNation's digital currency Venom Tokens (VNM), and they will be able to trade their tokens for access to content, creative services, mobile data, merchandise, and gear. Users will be assigned digital wallets once they sign up.
Platform members are incentivised for engaging with content like posting, flame-ups, comments, and shares.
While the app will be launched next month, users can download the app in beta download, and users can sign up at https://snakenation.io
According to SnakeNation, the media platform aims to target creatives across the country and has founded creative college societies with access to an audience of over 8 million multicultural millennial creators and consumers.
"It also drives awareness and participation in Southern Africa on 52 campuses and reaches 600k students," the company said.
Based in Atlanta, US, and Cape Town, the company said its mission was to enable equity in the creative economy for diverse creators, by giving them the tools to own their narrative.
"By linking creative and economic freedom and tapping into the intersection of creativity, culture, and technology, millennials now have a powerful means of alleviating youth unemployment and poverty at their fingertips," the company said.
SnakeNation CEO Karl Carter said: "Media consumption has changed, and so has the world. Millennials watch what they want when they want, and how they want. They have the buying power to move the needle, and their diverse stories are not reflected in traditional media."
Carter said he was excited to be launching the social media platform in South Africa. “Now, South Africans have the opportunity to get in on the act by generating their content, curating and sharing and, importantly, also earn crypto tokens from their interactions with content, creators and brands.
“We're calling on young creators in South Africa to chart their path,” said Carter.
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