Narrative, a United States-based social media project that bills itself as the “World’s Journal,” has distributed its first rewards payout. The Narrative project, which went live in April, is set up to distribute 85 percent of its income to its community.
Narrative CTO Brian Lenz has outlined the project’s mission in the past, stating, “Companies like Facebook use their users…we’re not a big fan of that approach. We think users should be rewarded for their contributions. They will actually be rewarded and compensated as opposed to just being a product that makes big corporations profits.”
The rewards, which are denominated in Narrative’s “Reward Points” redeemable 1:1 for NRVE tokens, are intended to reward Narrative’s members, content creators, and active participants. The first rewards pool consisted of 2,508,982 Reward Points (estimated value of approx. US $29,000 at time of publishing), of which 60% is earmarked for the site’s content creators. Although the rewards distribution took place on June 13th, 2019, redemptions of NRVE will be delayed until July, 2019, to allow time for identifying any bugs in the payout system.
Detailed breakdowns of Narrative’s rewards pool can be found at the Narrative site; Narrative notes that despite the monthly payout schedule, its creators’ work “will be eligible for rewards as long as it is available” on the site.
Although content creators receive the majority of the monthly rewards, other network participants also receive a share. Niche (topic) owners receive a 10% cut, niche moderators get 6%, and members who contribute helpful interactions to the site via comments, votes, and ratings will receive 8% of the pool.
NRVE and USD
Narrative’s first rewards pool covers the period between the site’s Beta launch on April 2nd, 2019 through to May 31st, 2019. Future rewards pools will be distributed monthly. Narrative reports that 2,000,000 NRVE was minted for the first payout, while over 500,000 NRVE comes from a pro-rated redistribution of niche ownership auction fees.
Finally, Narrative member “Malkazoid” published an overview of what contributing members might expect to earn from participating in the network, based on his observations.
For content creation, Malkazoid compared two of his posts with differing engagement levels. One post that received “only three votes, 100% quality, and two comments” earned just under US $1 in Rewards Points. Another with “28 upvotes, 100% quality and 22 comments,” earned approximately US $38.
In addition, Malkazoid estimated that he received about US $100n in rewards for two hours of work as a moderator for a popular niche. Similarly, activity rewards for general site interaction were estimated at roughly US $3 for very light use to US $50 for a heavily engaged Narrative user.
Narrative’s rewards pool announcement may be viewed in full at the following link:
About The Author: Colin Closser
Colin Closser, M.D., was a speaker at the first NEO DevCon in San Francisco. A devoted contrarian, he has managed the improbable: a peaceful and healthy life, despite holding a medical degree. He aspires towards the wisdom of Michael Lewis and Nassim Nicholas Taleb.
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