Project NEM announced the launch of a social media platform that pays users for content creation.

The new announced platform called “NEM Hub” was launched early on June 12, as it was directed to a small group of users on a trial basis, to be officially opened to everyone on July 15.

Assign rewards to creators:

Users can ‘not centered’ Earn crypto coins by completing required tasks, or by producing their own content, such as videos and articles.

Similar to Steemit, rewards are distributed according to each user’s reputation and points.

There is currently a user base of the platform about 800 users, of which 400 are active users, many of these users have linked their accounts on Twitter and Telegram to post content.

Read:Bitcoin’s suffering continues as it fails to maintain the $47,000 level

These users receive about $10,000 in XEM coins per month.

Or about $25 per active user per month.

community marketing:

The NEM Hub can be compared to sites that pay content creators in cryptocurrency, such as Steemit, Publish0x, Peepeth and Read.cash.

But the XEM-powered platform is unique in that it is only intended to be used in promoting the NEM project itself.

The new platform from NEM is aimed at users who have an interest in the success of the XEM token, the NEM Hub platform has a barrier to entry, as users must have 4,000 XEM or about $15 to be eligible for the rewards.

Since NEM Hub content can be published on other platforms such as Telegram and Twitter, the project has directly benefited from social media marketing.

Although this does raise questions about why users are using the NEM Hub as a social media platform.

According to NEM, the number of times NEM appears on social media has increased tenfold due to the launch of the new platform.

NEM Coin Market Cap:

The market has largely ignored the NEM project because it shares the same goals as Ethereum, the latter being the most common and used.

Read:Mining Pools Decide to Distribute Mysterious $2.4 Million Ethereum Transaction Fee

The fact is that the NEM blockchain was launched in the same year as the launch of Ethereum in 2015, but the NEM project was not able to make its next Ethereum counterpart.

XEM coin has recently experienced a slight upward trend, the coin has risen from $0.03 to $0.05 since March, and the coin is currently ranked 29th in terms of total market capitalization.

It is not yet clear whether the NEM Hub will significantly boost the value of the declining coin XEM, and whether the coin will be able to return to the competition arena, or is it already moribund.

Read also:

Learn about the NEM project and the project’s digital currency (XEM)

Lithuania launches its own encrypted digital currency LBCOIN … details here