Noah Blockchain Case Studies: Coin for a News Site Owners and Readers

Anton Dziatkovskiy’s team develops blockchain solutions for over 4 years. The uncompromising expertise of Anton Dziatkovskii as a founder of Platinum Q DAO Engineering helps with the full-cycle software development of any complexity. Read this article to pump your crypto brain.

We continue the series of Coiner use cases. This is a tool that allows you to create your own cryptocurrency in just a few clicks. To learn more about it, just read our detailed guide. New coins can be used in everyday life and we will prove it!

Today’s use case will be valuable for the news website owners and for their readers. Owners will get more users and the opportunity to increase their own income, and readers will be able to access premium content without unnecessary expenses. Sounds interesting! Let’s create a News Site Coin.

How the Coiner could help?

One of the problems that owners of news sites face is the need to place a lot of advertising. But even in such cases, it does not bring enough income. Therefore, they have to introduce paid subscriptions and pay-wall systems. Users treat them without much enthusiasm.

Paid content and restriction of viewing pages also don’t seem to be a solution for readers. Some of them can change the quality of content for free access. How to solve this situation with mutual benefit? Create a cryptocurrency!

Let’s call it Reader Coin. Cryptocurrency will become a kind of utility token of your website. Users will receive coins for viewing ads, creating traffic on free pages, and other activities. Readers will be able to exchange their accumulations for access to paid content. Now let’s talk in more detail how this will work.

How it works

The great thing about this is that the system will work automatically. The owner of the site only need to create a coin and configure the activity and the number of rewards for them. Here are some examples.

Example 1

The reader is already registered on the website and linked his wallet number. He went to the page and was shown a promotional video ad. If he views it to the end, the system will automatically send 10 coins to his wallet.

Example 2

A new page has appeared on the website with no ads. To attract more traffic to it, the website owner adds it to the Promo column. Each registered user will receive 5 coins for her visit and stay for at least a minute.

Example 3

A reader has 480 coins in his wallet but the access to premium content costs 500. To get 20 more coins, he needs to share any article with two people who will go to the site and register. The shares need to be done via a special button that creates a referral link.

As you can see, the rewards and the process of receiving them can be completely different: from a simple repost to a difficult quest. It all depends on your goals and needs. Another option for readers to get the needed amount of  Reader Coins is to just purchase them in the Noah tools platform.

Here are a few other ideas of coin usage:

  • Users with the largest amounts of coins can unite in reading clubs. You can come up with special conditions and bonuses for them, as well as use coins for interaction.
  • Readers can create communities related to specific topics and interests. E.g. members of the Financial Club can receive an additional analysis of a stock market.
  • You can hold contests and giveaways without spending money. Use coins and premium content subscriptions as gifts.

Coin minting

Since  Reader Coin has to perform utility functions, there is no need for a large NOAH coin reserve. It will be enough around the minimum value. Here are the main parameters that we propose to use when creating:

  1. Initial amount: 1000000. News sites have thousands of readers, so it’s worth issuing a sufficient amount of coins.
  2. Initial reserve: 250000. It’s the minimum amount and will be efficient for a utility token.
  3. Constant reserve ratio: 10%. As we said above, it’s normal value for utility functions.

Basically, these are three main parameters. Don’t forget to use messages when they needed.

The great prospects

If you think about the use case a little longer, you will understand that it can be efficient not only for news websites. A similar system is applicable to all websites that use textual content as a basis. It all depends on your imagination!

The Coiner solved another problem! The tool is so versatile that it is really applicable in any area of life. Don’t stop monitoring our updates, and we will continue to share other essential Coiner use cases.

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