1.1 Introduction to Nova Network
What is Nova?
Nova Network is a revolutionary and invitation-only UGC app and social media platform. Nova Network incentivises users to be 1) content creators and 2) users. First, as content creators, users create and share content in text, graphic and video formats with their followers. Second, as content readers to not just browse content but also to up-/down-vote content, to determine order of appearance of that content on the entire platform.
How Nova is different?
Nova INCENTIVISES users by way of tokens - Novas and Novas Plus. Users can grow token balance through
1) signing into the app (and initiating daily earning sessions),
2) upvoting and downvoting other user’s content, and
3) publishing content and being voted upwards. Nova envisions to develop its tokens on a reliable blockchain (and subsequently its own chain).
Mainstream social media whose content sequencing is determined by proprietary algorithms (where app operators dominate choice of content presented to users). Nova prioritizes content to users using 1) publishing timeline and 2) popularity determined by “upvote” and “downvote”. As such, USERS determine what is share-worthy.
Token utility - Advertisers will need to purchase and use tokens in Nova Network Ecosystem to place advertisements. And Nova platform will use part of ecosystem earnings to benefit users. As such, users (both content reader and content generator) will truly OWN and monetise on their content, and SHARE the commercial benefits of their active engagement.
1.2 Shortcoming of Mainstream Social Media Arisen from Web 2.0
Centralization of ad dollars - A handful of mainstream social media platforms are multi-billion-dollar businesses (Top 3 social media platforms generated ~USD140B in revenue). Despite the commercial benefits being the result of billions of users output, none of the advertising revenue goes to rewarding its users in a manner that reflects their contribution. These giants took home ALL the benefits while exploiting our privacy.
Advertisers in Nova Network social media will buy novas plus tokens for placing ads in Nova through its built-in ad network mechanisms . We have created a revolutionary social media ecosystem where users (both content readers and content generators) can share a significant portion of the commercial benefits created by their contribution, disrupting the current mainstream platforms’ model in monopolizing the social media econom
These platforms DICTATE what we see. Content display sequences of current mainstream social media platforms are driven by a black box (often a proprietary algorithms unknown to the general public). These can, for example, lead to politically driven content that might not reflect user preferences ahead of elections.
Nova displays content according to the publication timeline in your newsfeed, and then ranks content by upvotes and downvotes in the discovery section. Content with more upvotes will be prioritized, and vice versa. At Nova, users decide which content is of better quality and show-worthy.
V1.0 15 July 2022
V0.6 May 2023