Taki social networking app at first glance seems to mimic Twitter and Facebook, is set to become a new hub as it promises to offer rewards to its users in the form of crypto tokens and not likes and comments. While the popular social networking sites are all about followers and likes, Taki will stand out in the sea of those apps because of its cryptocurrencies and token system. Quite honestly, Taki is going to bring together social media and cryptocurrencies, garnering attention from both massive customer bases.
“Taki is designed to be a secure, safe and tech superior product that enables social enthusiasts to consume, invest, share, transact and build a token-based content portfolio,” said Sakina Arsiwala, co-founder of Taki.
Taki’s primary goal is to lure the growing customer base around the crypto market. The Taki crypto token is built on the Solana blockchain, known for its fast and inexpensive transactions. Moreover, the Solana network is known for its most energy-efficient blockchains, which serves the purpose of Taki since now they can market themselves as a power-efficient social network.
However, Taki is not the first app trying to attract users via in-app coins. What sets Taki apart is that it uses crypto tokens, called Taki, which can be converted to actual money once users list these tokens on the crypto exchanges. What adds fuel to the fire is that users can also create their crypto tokens instead of only relying on Taki.
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Taki Social Networking App to Offer Crypto Tokens as Rewards
In a conversation, the Taki co-founder, Sakina Arsiwala, described this idea as one based on the user economy as it empowers creators and influencers to leverage their audiences into earning crypto tokens or creating their tokens. The general concept is that a post made by a Taki user, when liked, is automatically rewarded as Taki tokens. This also motivates users to post content that helps them earn more crypto tokens. A small portion of these rewards is also shared with the followers of the Taki users, creating a positive feedback loop. Sakina, the co-founder, terms it as the form of dividend for the followers.
When users wish to cash out any Taki token, they can convert it to any other cryptocurrency after listing the Taki token. Arsiwala also remarked that they are working with several crypto exchanges to get Taki tokens listed. Solana has also partnered with Taki to set up a $2.5 million fund to bring creators on the platform.