SocialPayMe Unveils NFT Marketplace On Blockchain For Influencers August 18, 2022 August 18, 2022 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsAugust 18, 2022 by Kelly Cromley

SocialPayMe Unveils NFT Marketplace On Blockchain For Influencers

The initial tweet ever sent by Jack Dorsey, which was sold as a non-fungible token (NFT) in March 2021 for nearly $2.9 million, is currently only valued thousands of dollars. (MIAMI, FL) — During the same period , Jack Dorsey, then-CEO of Twitter, auctioned off his initial tweet as an NFT, and an investor acquired it for 1630.58 Ether, which was valued almost $2.9 million. A year afterwards, the buyer put on the market the identical NFT on OpenSea and proclaimed his intention to give fifty percent of the revenues to charity. The highest offer was $9968, representing a $2,905,867 decrease in value. Regardless of their low price, NFTs have enormous value in the current market. During the same month that it got the $9668 offer, the monthly trade volume on OpenSea increased to $2 billion, rising from $150 million only one year before. Dr. Ravi Singh, founder of SocialPayMe, the initial online platform and marketplace devoted completely to social media NFTs, asserts, “We can alter this paradigm.”

The platform enables influencers to leverage their social media platforms by working with relevant businesses and converting their social media posts into NFTs. It also enables businesses to purchase and hold NFTs as commercial assets or for future usage, and offers influencer verification and performance and value data. Followers may now be compensated for their participation and devotion by buying NFTs from their preferred influencer and accumulating or selling it back on the market. And, similar to the Jack Dorsey tweet auction, charity may gain from the sale of NFTs and collect contributions from influencers or followers.

SocialPayMe originated as Dr. Singh’s work for his PhD in Social Media and Technology on the 35,000+ tweets that assisted Donald Trump clinch the presidential race in 2016. Since then, this has been transformed into a patent-pending algorithm and serves as the foundation for the “Social Media Voice Theory” algorithm that runs the network and marketplace. SocialPayMe has its headquarters in Miami, Florida – the “Crypto Capital of the United States” – and is now gathering seed capital to debut in the fourth quarter of 2022.

And with the assistance of local leaders like Mayor Francis Suarez, SocialPayMe seeks to democratize the commercialization of social media influencers. Dr. Singh is a world-renowned authority on blockchain technology, non-fungible tokens, and social media speech, interaction, and tone. Along with many patents, he possesses two Master’s degrees, a Ph.D. in Social Media and Technology, and honorary alumni status from MIT. Business Week and USA Today have dubbed him “The Campaign Guru” for his assistance in the election of nine foreign presidents. On August 20, 2022, he will lecture on “The Super Science of NFTs” at the Crypto Connect Expo in West Palm Beach.

Scott Roseman founder of Crypto Connect Expo, said “We are thrilled to have SocialPayMe unveil their novel social media NFT marketplace at our summit, as well as have Dr. Ravi Singh, a specialist in social media and NFTs, provide the keynote address. We think that firms such as SocialPayMe will be important in bringing social media NFTs to the foreground of web3.”

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.