There’s another social network out- EmpireAvenue. This one looks interesting though. Before EA, all the social networks do not directly reward you for retweeting, liking, Digging, etc. But this one does. And that is a gamechanger.
You Pay To Establish Connections
EA operates with their own currency called Eaves. You can buy shares in another person, company or brand. Once you do, you’re essentially following them getting their newsfeeds. It’s a subtle difference from the friend/follow model but one that makes a tremendous difference.
Unlike Twitter and Facebook where you can follow or like as many pages without any limits, you have to “pay” for them on EA. Unless you buy into them, you can’t follow them. And there’s a limit to how much Eaves you have because it’s a virtual currency. So what happens is that the shares you buy into, you really like what they’re doing. It’s just like stocks. And that’s why the model is so great.
Direct Reward System
The biggest difference I see is the direct reward system when someone becomes an evangelist for you. With Twitter, Facebook, and even Digg and the others, you get a good feeling that you helped spread good content to your friends because you think they’ll find it valuable. There’s not a direct monetary compensation or something that is measurable in that exchange.
EA does reward people who spread good content. It may not be real cash but their virtual currency does allow you to do a lot. Who doesn’t want to see their investment grow, even if it’s virtual?
Here’s a typical scenario of how everyone gains. Let’s say we, TBF came out with a great article (like this one). We put it on Facebook, Twitter, LinkedIn, etc. We normally have people retweet it anyway. Now that we are on EA, people who find it valuable can do that in addition to buying shares in us. They buy stock in us because they find our information valuable. And if they do, another person will.
Our share price increases everytime someone buys our stock or whenever we do something social (being active on Twitter, Facebook). So the person who finds our information valuable and brought stock in us will find their stock increase due to the very fact that someone else will find our information valuable.
But It’s Fake Money
Maybe, but you can do a lot with it. One of things you can do is buy exposure. That used to cost a lot. Super Bowl commercials ring a bell? For 30 seconds, you pay millions.
You can also build exposure on Twitter but it gets very spammy as there’s no restriction. But with EA, you can buy exposure for people who are interested in what you’re saying. It’s looking similar to the Facebook ad model except free.
On EA, you can buy ads using their currency and that’s cool.
As Long As You Have Valuable Content
As long as you have valuable content, your share price will go up. It goes back to “Content Is King”. The reason is because that information will be shared. More people share, more the price goes up. More price goes up, more everyone who brought shares also win. More people buy shares, more exposure you get for your brand. I just see a never ending spiral going up.
We’re testing that upward-spiral theory as we speak. And this is how we are doing it. Our current price is around $25. We think it will triple in about 3 months. The reason is because we have the Teen Business Summit coming up. It’s already generated buzz. Come the summit, it will be all over the web. That is guaranteed “social activity” as far as EA is concerned.
We will have people retweeting, liking, commenting on anything TBF and summit related just because it’s valuable.
And it is.
Our approach in trying to enlist more shareholders is just to use that as marketing materials. We are guaranteeing them that we will be very active in the next 2-3 months. If they don’t buy now, they risk of losing out on a great investment.
The more people see that, the more people will buy. The more people buy, the more our price goes up. And all this brings more exposure to the brand, and the cause.
How will you use EmpireAvenue?