Users of the TikTok-like platform will be paid for watching videos in cryptocurrency

The social network Coub, which is similar to TikTok in its concept, has announced a new approach to monetizing views — from now on, users will receive cryptocurrency for watching videos on the platform.

According to Coub representatives, all users will participate in video viewing for money by default, receiving rewards for their daily activities on the platform. In addition to money for watching videos, visitors will receive tokens for likes, comments, and reposts. Users will be able to receive exclusive rewards, upgrade to higher tiers, exchange their own tokens, and buy NFTs of their favorite videos.

However, to make a profit on the platform, each user must pay a one-time fee. According to the developers, the maximum length of videos that viewers can watch in unlimited quantities is only 10 seconds.

Users have already noticed that Coub’s «watch to earn» concept is similar to popular «Play2Earn» games. For example, hackers recently stole $ 625 million from one of the largest Play2Ear games — Axie Infinity. 1/3 of the stolen assets belonged to the company, but more than 100,000 units were gaming ones. However, on June 28, after the launch of the updated version of Ronin Wallet, the company began to return the lost funds to depositors.