Will Empowr Beat Steemit? Maybe. Maybe Not.
Disclosure: I'm on the Empowr Advisory Board.
I feel as if my own crypto-related social media time has been dominated by Empowr over the past few months. It's been interesting: it, like Steemit, is a social network that's powered by a coin.
But that might be the only similarity between the two. Maybe. I'm attempting to figure out the maximum earning potential on the site - as an Advisory Board member, I may be compensated with coins and tokens from the team, but I have yet to see any of those yet, and they would vest over a long period of time anyway. So I'm going to aim - just like I did here a year plus ago - toward finding the right mix of social media posting, commenting, clicking buttons (more on that) and buying and selling stuff.
Let's take a closer look.
Can You Buy The Token?
Answer: yes. You can buy through the site itself - but that link appears to be broken right now. (Not a good sign.) Better try token.store instead.
Token.store isn't very active with EMPR trades yet. There's always a "fat fingers" opportunity on both sides, and someone who wanted to control a decent chunk of the market could very well start buying and become a whale quickly. BUT...and again you should DYOR (Do Your Own Research)...supply information is hard to come by.
500m Coins, Times $1.30 each, EQUALS...
When Empowr shifted gears a few months back, going away from an ICO and toward and airdrop, they then announced that they were limiting supply to 500m coins. However, that was going to be done in a very controlled fashion - and, in all candor, I don't believe CIRCULATING SUPPLY adds up to 500m. Not even close.
I'm waiting for a response from the executive team on a few of these questions, and will update everyone once I know more. However, given what I've been able to surmise about how coins vest for long-term Empowr members (1% a month in perpetuity), even if they held back a large percentage that would immediately vest - which they have done for some members of the community - they're not a top 20 coin yet.
Yes, It Looks Like Facebook
A lot of blue. Posting, posting of photos, clicking the like button. The difference between Empowr and Steemit is that the voting/money is in clicking the like button on Empowr. And you're not transferring a set amount of coins or money with your vote - you're trying to "close loops."
Once you either comment on someone's page - six times in this example - or click the like button on six of their posts, you can "close the loop" and move on to the next person. This particular person and I have been connected for some time, so that's why (I think) they are asking for six engagements to close the loop.
More loops you close, more money you can earn.
About the Earning Potential
Here's where I can't totally figure it out - and, again, I have questions into the founding team and will share answers when I get them.
To earn your money each day, you need to achieve your goals. Those goals involve listing items for sale, bidding on items others are selling, posting on your own feed, and sharing others' posts (which, I think, involves the engagement from clicking the like button or commenting on people's posts).
To give you an example from my own efforts, yesterday, I was awarded a grand total of...drumroll...well, here's the screenshot from my gmail:
Woo Hoo! 225 of their coins! And, at $1.30 average per, that's $292.50!
Hold Your Horses...
Where I'm cloudy is exactly how the earnings are calculated. I have upgraded my service level - using their coins - and each time I did so, my earnings increased. The general calculation I've used is something like this:
1/2 of my balance is taken every two weeks (since I'm on an auto upgrade plan). Then, my earnings - should I put in the time, which has averaged 45 minutes a day - are equal to around 1/8 of the amount of the upgrade.
So if you're following along, they took around 1500 coins for my last power upgrade, and I'm making around 200 of their coins a day. I should be due for another upgrade in a few days - they say 13 to 14 days on average is when they upgrade you - and then I'll have to spend another 45 minutes a day. But my earnings might grow to 300-350 coins a day. And so on, and so forth.
They're immediately vesting some users, as they announced above, based on how often they achieve their goals on Empowr - goals being those four cases above (List, Bid, Post, Share). Some folks who achieve goals or increase their engagement or something will get immediate vesting of their coins. Which might be awfully profitable.
What's The Point?
The point of all this is that it's too early to tell. I'm engaging more often - which is what I agreed to do as part of the Advisory Board - but I'm still really confused about the coin, its calculations, and the long-term prospects.
If you are on Empowr, feel free to let me know. And share this post if you know others who might benefit from more knowledg about it.