Narrative, a social media and content economy platform, has announced the official public beta launch on Tuesday, April 2nd. In the announcement, the Narrative team also noted the rollout of its certification process, onboarding enhancements, a significant reputation formula update, and a niche slot limit increase. Before the launch of the public beta, there will be one more upgrade in March of 2019.
Narrative states that its certification process establishes an individual identity. To protect user anonymity, Narrative purports they will not “force [users] to expose [their] real name on Narrative.” However, individuals that certify themselves will have the ability to boost their Reputation score, apply to be a Niche Moderator, and redeem NRVE in US $600 of equivalent value annually, plus more.
To register for certification, users must conduct know your customer (KYC) requirements, which include “a selfie photograph that includes a piece of paper with the date and the words “Narrative Certification” on it.”
Narrative states they will only retain the user’s birth month and year, country, and a “hash” (or a unique identification) for the system. The content economy platform provider states they are collecting birth month and year for access to age-restricted content.
The identity verification provider, Onfido, is a third-party processor that is “trusted with ID verification by more than 1,500 global companies.”
Currently, registration costs US $10, but that will increase to US $15 at the launch of the public beta.
In previous versions of the platform, a bug in the reputation system was found to reward and demerit specific actions improperly. The most recent update solves the problem and issues a new reputation formula. Now, Quality Analysis will represent 60% of a Reputation score, and Certification will represent 30%.
Additionally, members who have negative conduct scores will not be able to participate in particular actions on the platform and are placed in a “time out box.” Activity restrictions will include suggesting and bidding on Niches, voting and rating content, being nominated for any position, posting, and commenting. The volume and frequency of poor actions will determine the length of time for which a user faces penalties.
Onboarding and niches
Users are now able select Niches of interest during the registration process, which ensures they’ll have custom content streams once the platform is live.
Lastly, Narrative has increased the number of Niche slots a user may have from five to ten. Niche owners who had met their limit made requests for Narrative to revisit the ceiling cap. The niche design limit is set in place to act “as a decentralization mechanism to prevent whales from hoarding niches.”
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