Ideamarket uses markets to permanently change the incentives of content curation.
In the process, Ideamarket establishes a new passive income stream for creators, without the conflicts of interest created by ads, paywalls, donations, and other common business models.
Ideamarket is like reddit, with a profit motive (“buy low, sell high”).
Social media accounts are represented by tokens, and listed on an exchange. To increase an account’s rank, buy its token. Tokens bought later cost more.
Token price and supply are managed by a bonding curve. The first 1,000 tokens for each listing cost $0.10 each. Price increases by $0.01 for each 100 tokens minted thereafter. This means you can profit by discovering great accounts early.
Money spent on tokens is held in compound.finance, a decentralized lending protocol. Compound lends these deposits to borrowers, who pay interest (usually 1-10% annually).
All interest generated by token deposits is paid to the owner of the associated social media account.
Ideamarket creates a new passive income stream for creators, without requiring any extra work.
Ideamarket’s founding goal is to curate information without trusting a centralized third party to provide a stamp of legitimacy (such as a media corporation).
If Ideamarket replaces corporate media as the “arbiter of credibility,” trust becomes more profitable to earn than to fake. Genuinely trusted voices attain a high rank "for free" as their audience buys upvotes out of sincere belief and self-interest, while fake voices must pay out of pocket. Over time, market cycles shake out both the deceivers and the deceived.