[Tool recommendation] Every article is NFT | BBS Network

Dec 10, 2021

Every article is a tradable NFT, can you make money by posting scrap articles? This article will introduce the operation mechanism of BBS Network, the transaction operation principle of NFT and the token economy. In this decentralized forum, we can say whatever we want, no one has the right to censor your posts, even if he is the owner of the board.

foreword

BBS Network is a SocialFi project that looks like a Reddit forum. Everyone can set up their own discussion boards and post whatever they want to say. Once the article is published, no one can review or remove your post, even if he The same goes for the owner of the board, so I will think that if someone wants to maliciously make trouble on the board, or even post some illegal content, I will not take him...

With the emergence of NFT and more blockchain applications, concepts such as "creating value" and "freedom without supervision" are constantly being discussed. The protagonist of this article, BBS Network, is another Web3.0 application. 6 Announced that Binance Labs led a $1.5 million seed round of financing for BBS Network . I did a little research and found that it was quite interesting, so I would like to share it with you.

Every article is an NFT

Article NFT's gold flow profit sharing mechanism

What is very special is that each post is an NFT. After the article is published on the decentralized network, the starting price is 0.3 yuan. Every time it is bid, if the next person wants it, it must use 30% higher than the previous bid. Only the price can buy it, so as the number of transactions of the article NFT increases, the price will continue to increase by 30% each time.

The transaction process of article NFT can be carried out directly in the channel. If you just look at the NFT auction, it will be divided into four roles: Board Admin (board owner), Publisher (the NFT publisher of this article), Previous NFT Owner (this article The holder before the NFT was purchased) and the NFT Owner (the holder after the NFT was purchased in this article). After the purchase, the owner of the article will immediately transfer it to the new buyer (NFT Owner). By.

Example 1: First define role A as the board owner, B as the publisher, and C as the new buyer

B posted an article on the Internet and turned it into an NFT. The starting price was 0.3 yuan. C spent 0.3 yuan to buy it and became the owner of the NFT in the current article. 0.3 was split into 0.15 for A and 0.15 for B.

Example 2: Character continuation above, D is a new buyer

Since the last listed price was 0.3 yuan, if D wants to buy it, it must spend 30% more to buy it, which will be 0.39 yuan, 0.39 will be split into two first, and 0.3 is the money spent before C and must be returned to C first. Only the 0.09 yuan of the original purchase will be equally divided among A, B, and C, so in fact, C not only has the original purchase cost of 0.3 yuan returned, but also earns an equal share of 0.03 yuan.

Tokens of BBS Network

There is also a role of Advertisers in the figure of the gold flow sharing mechanism of the article in the article. It seems that the entire token economy must be supported by a godfather silently behind the scenes. The white paper seems to advertisers. There are no details, so how the revenue is built and how much it can be is less certain.

BBS Network itself issues its own BBS Token, but when each new discussion board is established, there will also be tokens inside the discussion board. In fact, in the previous example, I was talking about a few yuan, and I did not explicitly say how much. What kind of cryptocurrency or legal currency is the unit? This is the reason. This few yuan is not a BBS Token, but a new token in the discussion board. Then the value of the discussion board token may be the investment from advertisers. If it is In this case, the value of each discussion board token is different.

try it

You can create your own BBS discussion board. I also created my own BBS discussion board . Log in to chat every day and you can send additional discussion board tokens! Anyway, registering an account is quick and free of money, and everyone is welcome to come and play!

For more details, please refer to: BBS Network white paper , Binance labs seed round financing

What is NFT: One article to understand what is NFT and its application

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Original link ITechNote technology essay