There has been a great deal of injustice in the world as of late, with many people in developing nations unable to find reliable sources of income due to a lack of available occupations and the fact that some of those jobs have been taken by AI. However, the inverse trend is gaining speed as well: new technologies also bring new ways to make money.
The Issue of Job Crisis in Developing Countries
Developing countries’ populations face an economic crisis with few stable opportunities to secure their future. In Africa, one-third of young people are unemployed and losing hope of finding a job. Meanwhile, in Argentina (LATAM), this figure stands at 20%, and the numbers are increasing. The disastrous numbers are getting bigger with the looming power of AI.
This is why new social media apps targeting user attention and offering bottom up revenue streams are of huge interest to youth in developing countries. Attention Economy is the idea behind people making money from their attention. In the 1970s, Nobel Prize winner Herbert Simon prophesied that attention will be the most valuable resource in a post-industrial world.
One such social media platform that is targeting the concept of the Attention Economy is Cheelee, a new social network where ordinary people can watch short videos and earn money. Unlike traditional platforms, where users are treated as passive content consumers, Cheelee rewards its members for their valuable resource — attention — and this is something worth paying attention to.
Putting a Price on Attention
TikTok, YouTube, and other social platforms have been allowing only content creators to earn money, but ordinary users and their resources — attention — have been neglected. That’s why it’s essential to manage attention wisely by focusing on what truly matters — helping people use these resources to get value. Instead of giving attention away for free, Cheelee put a price on it.
When users pay attention to the content on this social media, they are not just passively consuming content; they contribute their energy to it, and that deserves to be compensated. Cheelee enables users to receive direct compensation for their attention, establishing a win-win incentive structure. With compelling and mesmerizing content, Cheelee offers a platform for users to earn while engaging with gripping videos.
Ruslan Sharov claims that “Attention has become the most precious currency now. At Cheelee, we believe that ordinary users deserve more than aimless scrolling”.
We give a chance to earn while actively engaging with social media feeds. By revolutionizing the attention economy, we enable individuals to turn their passive browsing into dynamic participation, enhancing their lives and ensuring that every click holds significance.”
The platform inherits familiar features from popular short video platforms, ensuring ease of navigation with intuitive menus and helpful tooltips. Upon signing up, users are provided with complimentary NFT Glasses to explore the platform’s mechanics and obtain their initial tokens, facilitating the learning process and incentivizing user engagement.
To earn something substantial, NFT glasses of higher rarity are needed. In Cheelee social networks, users share their earnings results, where the maximum daily revenue (in May) was 600 LEE (a utility token accrued for watching videos), which is equivalent to about $1560 at the token’s rate on that date.
The amount of earnings varies and depends on the strategy that users develop as well as on the rarity and number of NFT glasses that they use. NFT glasses are unique digital assets that the user buys in the app and kind of wears while watching the feed. The cost of the glasses ranges from $51.5 to $1,854. The higher the rarity of glasses and the more skilled the players are at leveling them up, the more they manage to earn.
How Daily Content Consumption Can Boost the Developed Regions Residents Income
For individuals residing in economically diverse regions like London, where the median income stands at £36,000 per annum, the Attention Economy presents an enticing avenue for income supplementation and improved financial well-being. By dedicating a few daily hours to consuming captivating content, users have reported average monthly earnings ranging from £500 to £1,000, providing a significant boost to their overall income.
Introducing medium rarity NFT Glasses has opened up even greater possibilities for Londoners pursuing financial success within the Attention Economy. Through a strategic approach of maintaining a 70% charge and actively pumping the Lenses module, individuals have successfully harnessed the immersive power of content consumption, surpassing regional income averages and experiencing substantial financial gains, thereby enhancing their economic status.
Attention Economy Perspectives for Getting Stable Income in Developing Countries
To return to the issue of the scarcity of ways to make money in developing countries, it’s important to highlight the positive effects that engaging with the Attention Economy can have on the lives of those who live there. In a world where attention is becoming increasingly valuable, users can leverage their attention to earn a stable income. This approach allows them to monetize their time and effort spent on activities such as watching vertical videos, playing games, and consuming content, which were previously seen as purely leisure activities.
Attention Economy has the potential to disrupt traditional notions of work and employment. Rather than relying on the traditional job market, individuals can generate income based on their interests.
However, it is crucial to note that the Attention Economy is still in its infancy, and there are potential risks and challenges associated with this way of earning money. For instance, individuals may face challenges in identifying legitimate and trustworthy platforms that offer fair compensation for their attention.
Overall, the Attention Economy offers an exciting opportunity for young people in developing countries to generate income, and this income could potentially become a universal one for everyone who needs it.