What is Petals (PTS)?
Petals is a blockchain-based Web 3.0 short video creation and social platform that incentivizes users for participation. There are 5 major participants in the Petals ecosystem: content producers, content consumers, server node providers, algorithm providers, and advertising agents.
Content creators can launch their NFT-based video creations and get a portion of the advertisement revenue that comes with it. Besides, they get the entirety of the payment from customers who buy their work.
Consumers of content can obtain rewards by doing the following: watching ads created for them, liking, commenting, retweeting, or reporting on videos according to their validity, and also by providing data to the algorithm for recommendations. When using the client to access the server's content, consumers only use a small number of tokens.
Providers of server nodes offer a distributed method of storing content, necessitating the real-time updating of operational logic whenever a new node is added, as well as a portion of the dynamically managed video content and related information.
Developers are offered a chance to create open-source algorithms for credit evaluation systems for content creators and advertisers. Furthermore, they have to design a visible video auditing algorithm for video auditing and a transparent video recommendation algorithm for suggesting video content. Additionally, they can design open and transparent advertising strategies and bidding algorithms for ad recommendations. If their algorithm is chosen and put into use, they are able to get a portion of the advertising revenue.
The PTS token is the native utility token of the platform. You can check the live Petals price chart above to see the current PTS price.
PTS Use Cases
Petals coins mainly act as reward tokens for network users. Content consumers get rewarded for watching ads and engaging with the content. Content producers get rewarded for publishing content by receiving a portion of the revenue. Moreover, server node providers get compensated in PTS for providing storage. Besides, algorithm providers also get rewarded for their participation in the project.
Moreover, advertisers use PTC tokens to make bids. They have to bid for getting the opportunity to display their ads. Those who make the highest bids – get their ads displayed.
Who Founded Petals?
Details about the founders of the platform are scarce online. It is reputed that they are a competent team of software developers, blockchain specialists, and content creators.
PTS Tokenomics
The maximum supply of PTS tokens is fixed at 100 billion, with the majority of them being held in reserve for a lengthy period of time. These PTS tokens will be slowly distributed over a span of five years. The tokens are distributed in the following way: 80% to the community, 13.5% to the team, 5% to seed investors, 1% to advisors, and 0.5% to an airdrop.
Recall that you can check the current Petals price on the live chart above.
