Scorum is a sports blogging platform that gives rewards to its active users using cryptocurrency. Both curators and content creators receive cryptocurrency rewards. Community members on Scorum also receive rewards for voting, uploading photos, commenting, and publishing posts. There are also custom solutions for sports writers, including interactive graphics and sports analytics. In addition to blogging, Scorum also offers zero-fee fantasy sports, advertising, and commission-free betting.
There are other blockchain based blogging platforms available, but Scorum is the only one geared around sports content which should help to bring users with similar interests together and foster a “community feeling”. Additionally, Scorum offers more than just a platform for blogging. There are also statistics centers, a fantasy sports platform, and commission-free betting. Scorum even has support from fan clubs and athletes worldwide.
Scorum is currently placed in the Top 15 most used blockchain products in the world by TX volume. Scorum also now holds an official gaming license from Gaming Curacao. which is a key step towards the launch of the Scorum Bet peer-2-peer betting exchange that features zero-commision wagers in SCR tokens.
How Does Scorum Work?
Anyone who is creative and a sports fan can use Scorum to share their ideas and tell their stories. No matter where in the world you are, you can use the platform to express ideas and attract readers, with some help from Scorum’s tools designed for writers. Technically, you can write about any topic on Scorum, but the platform’s main topic is sports. As such, you will get more engagement from other community members if you write about sports and pick an interesting or relevant topic, and higher engagement leads to more cryptocurrency rewards
Those who do not necessarily like to write about sports can choose to comment on them instead. When you offer insights or quick wit, you can earn rewards. Every comment gets shares in a reward pool for every article, meaning that the more engaged you are, the more you will win.
The platform also uses a content curation algorithm that lets users upvote content. Upvotes can lead to more rewards and help others find the best content on the platform.
In addition to offering a blogging platform that lets writers reach an audience, Scorum provides other tools and services. There are visualizations and widgets that display data in the stats center in the way that writers can use. As such, anyone who likes to write about sports is welcome to use Scorum, whether they currently have an interest in cryptocurrency.
Writers can make use of widgets to incorporate data and statistics into their content and also use images from a built-in photo database.
Since there are so many actions on Scorum that can lead to rewards, it makes sense to ask who figures out how those rewards are distributed. The community makes this decision. There is a reward pool, and it gets divided up based on whether users enjoy an article and give it plenty of upvotes. The Scorum team built safeguards into the blockchain algorithm to stop flagrant spam voting. These safeguards also incentivize the discovery of quality content.
The rewards for votes work by giving the first few users to upvote a popular post a reward that comes from the pool. Scorum goes into this system in more detail in its white paper.
Users on Scorum vote for interesting content to help decide how the rewards are distributed. The Voting Power of each user is based on the amount of SP they own, with those who hold more SP having a greater influence with each vote. Users can give up to 5 percent of their current Voting Power, which is then restored in five days. This means that it is impossible to like all the content on the platform or use all the Voting Power on a single post, preventing fraud and unfair reward distribution.
Can You Already Use Scorum?
Yes, Scorum already has its MVP live, so you can go ahead and signup and start creating content on the platform.
Scorum emitted its Scorum Coins (SCR) and then held a crowd sale in the first two months of 2018. The token sale included 3,995 participants from 126 countries, leading to fundraising of $5.63 million and Scorum reaching its soft cap.
Once you earn Scorum Coins, you can choose what to do with it. Use the SCR to promote your content on Scorum. Go to exchanges to convert it to fiat money or trade it for other cryptocurrencies on exchanges. You can also convert SCR to SP to increase influence.
There are actually two types of tokens in the Scorum ecosystem, Scorum Coin (SCR) and Scorum Power (SP). SCR is a cryptocurrency that is used within the ecosystem to buy in-platform advertising, purchase sports goods from partners, place wagers on the betting exchange, or pay buy-ins for tournaments within the fantasy platform. You can also convert SCR tokens immediately to SP tokens with a one-to-one ratio. SP tokens are internal and are used as rewards for engagement.
You cannot take SP out of the system right after getting them; instead, SP gets converted to SCR at an equal ratio within 12 months. This waiting period helps ensure the project’s financial stability. It also protects the token from looting within the blogging portion of Scorum and reduces the possibility of constant sales of the token on exchanges.
How Can You Get SCR?
You can get SCR in several ways, including buying them directly via the BitShares exchange via OpenLedger. There is also the choice mentioned above of converting the SP you earn from activity on Scorum to SCR using your ScorumWallet. Additionally, you can win SCR on the ScorumBet exchange or with ScorumDraft DFS tournaments. As a reminder, you get SP for registering on Scorum, creating content, signing blocks in the blockchain, and voting.
How Does Scorum Make Money?
The main form of income for Scorum will be partner programs and internal advertising. Every financial transaction within the Scorum ecosystem will take place in SCR tokens to ensure a transparent income and reward distribution. Fifty percent of the advertising budget goes to rewarding users on the platform.
Scorum offers a sports-centric blogging platform that rewards content creators as well as the users who engage with the content. It also includes a range of other features, such as a commission-free betting platform and a platform for fantasy leagues. The platform is currently in beta but looks very polished and already has a range of tools for content creators to use to get started and be rewarded in cryptocurrency.
There is already a lot of good content which has been shared on the platform, and sports fans do love to discuss and comment around their favorite sports so the future for Scorum looks promising indeed.