You Own Your Own Words (YOYOW) – Chinese willingness to pay for digital content

In one of my last posts, I introduced You Own Your Own Words YOYOW to you guys. A few more points that i wish to add regarding YOYOW.

1. Initial focus on the chinese community

Right now, YOYOW wish to focus on the chinese community and of course this means absolutely chinese content. From my past experience as a steemit user, language of the content does matter. No one wants to be forced to see something foreign. IMHO, users can feel intimidated by a foreign language and this process can ruin the user experience at a social media platform.

Hence, I think YOYOW may be off to a promising start.

If you can read and write Chinese Mandarin fluently, and can create solid chinese content, you might be very well be the next star writer at YOYOW. But, the blogging scene in the chinese content market is also highly competitive. As an approximation, advertising fees usually go to the top 10% of content creators, with the rest of the 90% left with really nothing much. With YOYOW, 90% of content creators would expect some kind of more incentives to create even better content and quality network effect.

2. Blackchain Quora and Chinese willingness to pay for digital content

In a 2016 survey conducted by China Internet Watch, it revealed the top 3 purposes in using Weibo

The top 3 purposes for using Weibo are getting trending news in time (72.4%), following interesting content (65.5%), and getting useful knowledge and help (59.7%).

Turns out that getting useful knowledge and help is one of the top 3 purposes. This is evident from Zhihu. Zhihu, the chinese counterpart of Quora is highly popular in China with highly educated users. A Zhihu user, Qin Chao (former Facebook employee) sold US$12 tickets for a “How to find a job in Silicon Valley” course to Chinese online users on Zhihu Live. A single session got him an income of US$6,617 in about one hour. His total number of 9 Zhihu Live sessions attracted 4,418 users to participate. A rough calculation showed that he earned USD$53,000 from 9 Zhihu Live sessions. The numbers say a lot about Chinese’s willingness to pay for valuable and quality digital content.

3. China economy effect

Weibo has about 313 million monthly active users and still growing every quarter. In 2015, Zhihu has 17 million users. In December 2016, the number of China internet users hit staggering 731 million. This is double the size of United States population. Surely, it says a lot about the potential cryptocurrency adoption and cryptocurrency future volume. And of course, it is still very much subject to YOYOW’s platform and product success.

The initial coin offering (ICO) where you can be the first few investors in this platform will be somewhere in May at yunbi. So do watch out for YOYOW and yunbi space.

To understand more about YOYOW, you can go to the following links.

YOYOW white paper in english: YOYOW white paper in english

If you are proficient in Chinese mandarin, this is the white paper in chinese: YOYOW white paper in chinese

YOYOW has already started trading at btsabc, so watch out for YOYOW volume moving next month too!

If you are interested in joining YOYOW as an early content creator, email me at contact@coinbitgold.com and indicate your interest 🙂

And there are more reasons to join YOYOW. Watch out for my blog if you are interested in knowing more about YOYOW.

 

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