Cheez App Creates New Crypto Reward System
A mobile video app, Cheez, has just introduced a new incentive system designed to reward users in crypto through a collaborative effort with another blockchain platform, Contentos, as announced by Cheez on the 8th of August. The latest additions see Bitcoin, Ethereum and Contentos’ COS in the recent update.
According to the new update by Cheez, users will be rewarded in digital currencies once 15 different tasks on a daily basis are complete, including watching videos, playing the local app games or directly contacting a content creator through messages. The reward is nothing grand by any means, given that Cheez has set a limit for the amount of earned Bitcoin and Ethereum. When converted to USD, the daily reward limit for BTC is $1.56 and $1.28 for ETH. Additionally, every three, six and ten finished tasks will grant rewards form the two leading cryptocurrencies in the world.
Mick Tsai, the founder of Contentos has stated that any user will be able to transfer Bitcoin and Ether from any Cheez issued wallet to different cryptocurrency wallets and exchange them for fiat currency. The company is based on blockchain and states that it possesses a much more effective and beneficial income design for content creators on its platform. Collaborating with Cheese is also the first major partnership for Contentos.
Due to the new joint effort, Cheez users on its app will be able to choose COS rewards as opposed to Bitcoin and Ethereum although COS is currently pretty much worthless due not being listed on a single cryptocurrency exchange platform. As of now, Cheez has seen around 5 million downloads and focuses on 17-second videos. Its biggest rival is, of course, YouTube, the dominating website in terms of video content creation and uploading and has been downloaded over a billion times from Google’s app store.
As per a statement by Cheez, the company said that although crypto-blockchain tech is set to revolutionize the global economy in terms of transactions and dealings among one another, it still lacks mass adoption. Cheez attributes this to a difficult entry for newcomers and the current lack of real-life use cases by blockchain-tech.